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Big Tech Sparks Market Rally as Apple and Amazon Earnings Lift Wall Street
US stock futures staged a strong rebound on Friday, fueled by better-than-expected earnings from Apple and Amazon, which helped restore investor confidence in the technology sector after a volatile week.
The S&P 500 futures climbed 0.7%, while the Nasdaq 100 surged 1.3%, reflecting renewed optimism in Big Tech’s ability to drive market momentum. In contrast, the Dow Jones Industrial Average futures hovered near flat, underscoring the tech-heavy nature of the rally.
Amazon shares soared nearly 13% in premarket trading after the company reported third-quarter results that easily beat Wall Street forecasts. Its cloud division, Amazon Web Services, posted a 20% revenue jump, signaling robust enterprise demand and reinforcing Amazon’s position as a leader in cloud computing.
Apple also impressed investors with stronger-than-expected earnings and upbeat guidance for the holiday quarter, a critical period for iPhone and services sales. The company’s performance reassured markets that consumer demand remains resilient despite broader economic uncertainty.
The rebound comes just a day after the S&P 500 and Nasdaq suffered sharp losses, with Meta’s steepest one-day drop in three years weighing heavily on sentiment. The latest results from Apple and Amazon, however, appear to have shifted the mood, highlighting the continued dominance of Big Tech in shaping market direction.
With most of the so-called “Magnificent Seven” companies now having reported earnings, investors are closely watching how these results will influence broader market trends heading into the year’s final stretch. For now, Wall Street seems encouraged that Big Tech remains a reliable growth engine, even amid global economic headwinds.
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