Amazon Earnings Boost Market Sentiment, Stocks Rebound on Strong Quarter

Stocks rebounded on Friday as Amazon's strong earnings boosted market sentiment.

The S&P 500 climbed 0.70%, while the tech-heavy Nasdaq Composite overperformed, gaining 1%. The Dow Jones Industrial Average increased 0.53%.

Amazon stocks surged more than 15%, but Apple's stock fell 7% after their respective quarterly reports on Thursday.

Apple cited 'supply constraints' despite beating market expectations in earnings, revenue, and iPhone sales. However, its revenue growth will be between 9% and 11%, below analysts' expectations of 12%.

Oil prices rose during the session, with Brent crude climbing over 1.5% to stand above $88 a barrel at 4:03 p.m. ET, while West Texas Intermediate gained 1.36% to stand below $85 a barrel.