SPECIAL REPORT The Top 7 Stocks for 2024

Why Are Stocks Up Today?

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  • Stocks are up on Friday thanks to positive news from Amazon (AMZN).
  • The tech and e-commerce giant beat out estimates for the third quarter.
  • This saw several other stocks rally alongside the company’s shares today.
Stocks Up Today - Why Are Stocks Up Today?

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Stocks are up today and investors wondering why are in the right place, as we know what’s causing the market to rally on Friday!

The biggest news that has stocks up today comes from Amazon (NASDAQ:AMZN). The tech and e-commerce company released its earnings report for the third quarter of 2023 after markets closed on Thursday.

The big news investors are celebrating today is the company beating estimates. That includes its earnings per share of 94 cents and revenue of $143.08 billion coming in above Wall Street’s expectations of 59 cents per share and revenue of $141.75 billion.

That earnings beat is causing a chain reaction to lift up other stocks today. That includes the “Magnificent Seven,” a group of mega-cap tech stocks on the Nasdaq.

Let’s check out how this news has the major indices moving on Friday below!

Stocks Up Today: Major Indices Rally on Friday

  • Let’s start with the Nasdaq Composite, which is up 0.94% as of Friday morning.
  • Next, we have the S&P 500 with its 0.24% gain on Friday morning.
  • Finally, the Dow Jones Industrial Average is our only loser so far today, seeing a 0.16% drop as of this writing.

While stocks are up today, investors will note it has been a rough week for the major indices. Mixed earnings reports throughout the week have weighed on markets, as has additional economic data.

Investors that are looking for more of the most recent stock market news today are in luck!

We’re offering coverage of all the hottest stock market news worth reading about on Friday! A few examples of that include why shares of Nikola (NASDAQ:NKLA), Sanofi (NASDAQ:SNY) and Align Technology (NASDAQ:ALGN) stock are on the move today. You can catch up on all of these matters by checking out the links below!

More Friday Stock Market News

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2023/10/why-are-stocks-up-today-oct-27th/.

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