Amazon Surge Boosts Global Markets Amid Mixed Economic Signals
Global stock markets gained on Friday, fueled by Amazon's strong performance amidst economic uncertainties. Despite U.S. job market challenges, Amazon's better-than-expected results spurred investor optimism. Treasury yields fluctuated with market shifts while political tensions and Middle Eastern conflicts continued to influence global financial dynamics.
Global stock indexes recorded gains on Friday, largely propelled by Amazon.com's impressive earnings report, which surpassed expectations and sparked a 6.2% surge in share prices. This uplift tempered the impact of Apple shares' 1.2% decline after the company's modest growth outlook.
Investors found reassurance in Amazon's predicted strong performance for the upcoming holiday season, alongside a steady U.S. unemployment rate of 4.1%, even amid a weak jobs report affected by industrial actions and hurricanes. Benchmark 10-year Treasury yields rose by 2.5 basis points to 4.309%, anticipating potential interest rate cuts at future Federal Reserve meetings.
Attention shifts toward a tight U.S. presidential election and escalating Middle Eastern tensions. Meanwhile, global markets saw boosts, with the Dow Jones, S&P 500, and Nasdaq indices closing higher, while oil prices climbed on geopolitical concerns involving Iran and Israel.
(With inputs from agencies.)
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