Tech Earnings Propel U.S. Stocks to New Heights

U.S. stock indexes rallied on Friday, positioning them for an October close in positive territory. Amazon led this upward surge, recording a 10.6% rise after predicting better-than-expected quarterly sales, propelling optimism about Big Tech amid concerns over their AI investments.

Tech giants like Apple and Nvidia also played pivotal roles. Apple, despite flagging potential supply chain issues, exceeded iPhone sales forecasts for the holiday quarter. Nvidia, pursuing fresh opportunities with its new chip line in China, saw a 1.6% share increase.

The Federal Reserve's interest rate stance remains a crucial factor, with traders adjusting expectations after recent policy signals. Wall Street's appetite for technology remains strong despite uncertainties, as reflected in a multi-month rally extending across the Nasdaq and S&P 500 indices, indicative of continued investor confidence.