U.S. stocks climb on Amazon strength despite soft payrolls
Main U.S. indexes end green; Nasdaq up 0.8%
Cons Disc leads S&P sector gainers; Utilities down most
Dollar up; crude settles up ~0.4%, gold dips; bitcoin down ~1%
U.S. 10-Year Treasury yield jumps to ~4.39%
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U.S. STOCKS CLIMB ON AMAZON STRENGTH, DESPITE SOFT PAYROLLS
U.S. stocks closed higher on Friday, but off their earlier highs, as investors shook off a soft payrolls report that was distorted by labor strikes and hurricanes, and then latched onto the strong gains in Amazon.com AMZN.O after its quarterly earnings provided a lift.
With the jobs data and megacap earnings largely out of the way, investor focus now shifts to the U.S. presidential election on Tuesday. Which served to push bond yields higher despite a sharp drop initially after the jobs data.
Polls show an extremely close election, raising the possibility of confusion over the outcome and another contested election.
Also on tap for next week is the Federal Reserve's policy statement, with expectations for a cut of 25 basis points by the central bank locked in on the heels of the weak jobs report.
For the week, the S&P 500 .SPX fell 1.37%, the Nasdaq .IXIC declined 1.5%, and the Dow .DJI fell 0.15%.
Below is your closing market snapshot:
(Chuck Mikolajczak)
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FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:
US EARNINGS GROWTH VIEW IMPROVES AFTER BIG TECH RESULTS - CLICK HERE
INDIVIDUAL INVESTORS LIKE STOCKS FOR THE LONG HAUL - AAII - CLICK HERE
FRIDAY'S ECONOMIC ALSO-RANS: PMI, CONSTRUCTION SPENDING - CLICK HERE
BRAINY EFFORTS UNDERWAY, BUT STILL SOME WAY TO GO FOR NEURO DRUG DEVELOPERS - CLICK HERE
JOBS REPORT DRILL-DOWN: IS DIRE DATA A BLIP OR TREND? - CLICK HERE
U.S. STOCKS RISE AFTER PAYROLLS AS AMAZON LEADS - CLICK HERE
U.S. STOCK FUTURES ADD SLIGHTLY TO GAINS, YIELDS FALL, AFTER JOBS DISAPPOINT - CLICK HERE
COULD OCTOBER PAYROLLS BE NEGATIVE? - CLICK HERE
EUROPEAN EARNINGS: BETTER BUT STILL MIXED - MORGAN STANLEY - CLICK HERE
UK GILTS: TRUSSED UP? - CLICK HERE
EUROPEAN SHARES BOUNCE, STILL SET FOR WEEKLY FALL - CLICK HERE
EUROPE BEFORE THE BELL: FUTURES STEADY BEFORE JOBS DATA - CLICK HERE
A NOVEMBER TO REMEMBER... -CLICK HERE
Closing levels Nov 1 https://tmsnrt.rs/4fslLmm
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