US Stock Market Today: S&P 500, Nasdaq Edge Higher As Amazon Stock Zooms 12% Post Strong Results
As of 7:40 p.m., the Nasdaq traded 0.93%, S&P 500 traded 0.40% higher and Dow Jones traded flat.
The benchmark US stock market indices opened higher on Friday after tech giant Amazon Inc. reported robust financial results.
The tech-heavy Nasdaq Composite Index opened 1.40% or 329.23 points higher to trade at 23,910.38. The S&P 500 opened in the green, trading 0.67% or 45.69 points higher at 6,868.03, and the Dow Jones Industrial Average opened 0.16% or 74.11 points higher to trade at 47,596.23.
As of 7:40 p.m., the Nasdaq traded 0.93%, S&P 500 traded 0.40% higher and Dow Jones traded flat.
Amazon's stock rose nearly 12% higher to trade at $249.32 in the early minutes of trade. Among other tech companies, Intel Corp.'s stock rose 0.31% to trade at $40.30, Meta Platforms extended losses to trade 1.53% lower at $658 and shares of Microsoft Corp. also fell 1% to trade at $520.29.
Six out of 11 sectoral indices traded lower, with materials sector leading the decline, while gains were led by consumer discretionary sector. Information Technology sector also traded higher.
Spot gold was fell 0.13% to $4,019.61 an ounce. Crude oil prices rose, with West Texas trading 0.31% higher at $60.74 per barrel and Brent crude trading 0.26% higher at $60.76 per barrel.
The Bloomberg Dollar Index was up 0.2%, with the British Pound down 0.4% to $1.31, Euro declining 0.3% to $1.1534, and the Japanese yen little changed at 154.20 per dollar. Bitcoin, the largest traded cryptocurrency, rose 1.9% to $109,512.48.
