{"id":48329,"date":"2024-11-01T21:01:32","date_gmt":"2024-11-01T21:01:32","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report\/48329\/"},"modified":"2024-11-01T21:01:32","modified_gmt":"2024-11-01T21:01:32","slug":"market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report\/48329\/","title":{"rendered":"Market Recap: Wall Street Rebounds on Tech Surge, Eyes on Jobs Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report\/48329\/#Major_Indexes_Close_Higher_as_Amazon_Leads_Tech_Rally\" >Major Indexes Close Higher as Amazon Leads Tech Rally<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report\/48329\/#Amazon_Sparks_Tech_Sector_Rally\" >Amazon Sparks Tech Sector Rally<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report\/48329\/#Market_Sentiment_Improves_Despite_Recent_Volatility\" >Market Sentiment Improves Despite Recent Volatility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report\/48329\/#Upcoming_Market_Events_All_Eyes_on_Jobs_Report\" >Upcoming Market Events: All Eyes on Jobs Report<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report\/48329\/#Federal_Reserve_Meeting_and_Interest_Rate_Outlook\" >Federal Reserve Meeting and Interest Rate Outlook<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report\/48329\/#Global_Market_Influences\" >Global Market Influences<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report\/48329\/#Oil_Prices_and_Geopolitical_Tensions\" >Oil Prices and Geopolitical Tensions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report\/48329\/#Looking_Ahead_Key_Factors_to_Watch\" >Looking Ahead: Key Factors to Watch<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rebounds-on-tech-surge-eyes-on-jobs-report\/48329\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Close_Higher_as_Amazon_Leads_Tech_Rally\"><\/span>Major Indexes Close Higher as Amazon Leads Tech Rally<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a dramatic turnaround from Thursday&#8217;s selloff, U.S. stock markets closed higher on Friday, November 1, 2024, with tech stocks leading the charge. The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> gained 1.9%<\/b>, closing at 5,705.45, while the <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average rose 0.9%<\/b> to 41,763.46. The <b>tech-heavy Nasdaq Composite surged 2.8%<\/b>, ending the session at 18,095.15.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Amazon_Sparks_Tech_Sector_Rally\"><\/span>Amazon Sparks Tech Sector Rally<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The day&#8217;s standout performer was <b>Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>)<\/b>, which saw its stock price soar by 5.3% in after-hours trading following its impressive third-quarter earnings report. The e-commerce giant&#8217;s profit exceeded Wall Street expectations, driven by strong retail sales and continued growth in its cloud services division. This stellar performance added a staggering $104 billion to Amazon&#8217;s market capitalization.<\/p>\n<p><b>Intel (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=INTC\">INTC<\/a>)<\/b> also contributed to the tech sector&#8217;s positive momentum, with its shares jumping 7% after hours. The chipmaker surprised investors with upbeat revenue projections, signaling a potential turnaround in the semiconductor industry.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Sentiment_Improves_Despite_Recent_Volatility\"><\/span>Market Sentiment Improves Despite Recent Volatility<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The market&#8217;s rebound comes after a challenging week marked by volatility and concerns over Big Tech earnings. <b>Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>)<\/b> and <b>Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>)<\/b> had faced significant pressure earlier in the week, with their shares dropping 4% and 6% respectively, despite beating earnings estimates. Investors&#8217; worries about the impact of growing artificial intelligence investments on profits seemed to ease by Friday.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events_All_Eyes_on_Jobs_Report\"><\/span>Upcoming Market Events: All Eyes on Jobs Report<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we look ahead, the market&#8217;s attention is firmly fixed on the upcoming <b>U.S. nonfarm payrolls report<\/b>, set to be released later today. Economists anticipate the addition of 113,000 jobs in October, although some analysts, including Goldman Sachs, project a more conservative figure of 95,000 new jobs. The jobs data will be crucial in shaping expectations for the Federal Reserve&#8217;s next move.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Federal_Reserve_Meeting_and_Interest_Rate_Outlook\"><\/span>Federal Reserve Meeting and Interest Rate Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are keenly awaiting the <b>Federal Reserve&#8217;s policy meeting next Tuesday<\/b>. Market sentiment strongly favors a quarter-point rate cut, with a 94% probability priced in. This expectation comes on the heels of recent data showing robust U.S. consumption and signs of easing inflationary pressures.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Market_Influences\"><\/span>Global Market Influences<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>International markets presented a mixed picture. Asian markets started the month cautiously, with Japan&#8217;s <b>Nikkei index falling 2.1%<\/b> due to a stronger yen. However, Chinese markets showed resilience, with the <b>Hang Seng index in Hong Kong rising 0.4%<\/b> after a private survey indicated China&#8217;s factory activity returned to expansion in October.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Oil_Prices_and_Geopolitical_Tensions\"><\/span>Oil Prices and Geopolitical Tensions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the commodities market, <b>oil prices extended their rally<\/b>, with Brent crude up almost 2% to $74.13 a barrel. This increase is attributed to reports of potential geopolitical tensions, specifically concerns about Iran preparing a retaliatory strike on Israel.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead_Key_Factors_to_Watch\"><\/span>Looking Ahead: Key Factors to Watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we move into the new month, investors should keep a close eye on several key factors:<\/p>\n<p>1. The U.S. jobs report and its impact on Fed policy expectations<br \/>2. The upcoming U.S. presidential election on Tuesday<br \/>3. The Federal Reserve&#8217;s policy decision and commentary<br \/>4. Ongoing earnings reports from major corporations<br \/>5. Developments in global trade and geopolitical situations<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Friday&#8217;s market rebound, led by strong performances in the tech sector, provides a positive end to a volatile week. As we enter a crucial period with significant economic data and events on the horizon, market participants will be closely monitoring how these factors shape the investment landscape in the coming weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Close Higher as Amazon Leads Tech Rally In a dramatic turnaround from Thursday&#8217;s selloff, U.S. stock markets closed [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[94],"tags":[31,33,391,3741],"class_list":["post-48329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-intc","tag-msft","tag-amzn","tag-meta"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=48329"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48329\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=48329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=48329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=48329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}