Overview
- The Nasdaq led Friday's advance, rising 0.61%, as the S&P 500 gained 0.26% and the Dow added 0.09% at the Oct. 31 close.
- For October, the S&P 500 rose 2.63% to notch a sixth straight monthly gain, the Nasdaq climbed 5.30% for a seventh month in a row, and the Dow added 2.58% for a six-month streak.
- Amazon jumped about 9.6% to a record after forecasting fourth-quarter sales above Wall Street estimates and reporting 20% third-quarter growth in its cloud unit.
- The Federal Reserve lowered its policy rate to a 3.75%–4.0% range earlier in the week, and Chair Jerome Powell said another move next month is not assured.
- Investor focus also tracked a one-year U.S.–China trade truce and press reports of potential U.S. action in Venezuela that the president denied.