Overview
- Amazon reported third‑quarter cloud revenue growth of 20% that beat estimates and posted $180.2 billion in sales with $21.2 billion in profit.
- Its shares jumped more than 11% during trading after the release and closed up about 9.6%, marking a record high.
- The Nasdaq led with a 5.30% monthly gain for a seventh straight advance, while the S&P 500 rose 2.63% for a sixth month and the Dow added 2.58%.
- The Federal Reserve lowered rates by 25 basis points to a 3.75%–4% range this week, bolstering risk appetite.
- Earnings from major tech firms kept focus on AI and cloud performance, with heavyweights including Nvidia helping drive the sector’s momentum.