Stocks
Amazon Drives Market Higher Despite Hawkish Fed Comments
The S&P 500 Index rose 0.70%, while the Dow Jones Industrial Average and Nasdaq 100 Index gained 0.53% and 0.60% respectively on Friday.
Amazon's strong quarterly revenue growth led megacap technology stocks higher, bolstering market sentiment.
The company's cloud unit reported its fastest quarterly revenue growth in five years, reassuring investors that its projected increase in capital spending will generate sufficient returns and sustain the global AI buildout.