On Friday, futures linked to the S&P 500 and Nasdaq 100 indexes experienced gains following positive quarterly reports from leading tech companies. In after-hours trading, Amazon saw a remarkable 13% increase due to its third-quarter earnings surpassing expectations, driven by a 20% rise in revenue from its cloud division, AWS. Apple shares rose 2.5% after delivering robust fourth-quarter results and projecting a promising outlook for the holiday season. Additionally, Netflix's announcement of a 10-for-1 stock split led to a more than 3% uptick in its share price.
Conversely, on Thursday, Wall Street faced challenges; the Dow Jones Industrial Average dropped by 0.23%, while the S&P 500 and Nasdaq Composite fell by 0.99% and 1.57%, respectively. This decline was largely prompted by a significant selloff in technology stocks, spurred by escalating concerns over increasing expenditures on AI infrastructure. Furthermore, a meeting between Presidents Trump and Xi failed to boost investor confidence as it did not deliver any encouraging developments.
