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Friday Market Climbs on Amazon Earnings, Labor Numbers at Four-Year Low | Live Stock

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Kevin Travers wrote a column · Nov 1 22:52
Good morning, traders. Happy Friday, November 1st. The market climbed despite a shockingly light non-farm labor number- the U.S. added just 12,000 jobs in the past month, 100k lower than estimated. However, the unemployment rate did not rise, and the report mentioned the disruptions caused by hurricanes and strikes as one-time events.
My name is Kevin Travers; here is the news and animal spirits moving markets today.
$Amazon (AMZN.US)$ shares climbed 6.77% Friday after its third-quarter net sales hit $158.9 billion, up 11% from last year. For Q4, Amazon forecasts net sales between $181.5 billion and $188.5 billion, indicating a 7% to 11% growth. The midpoint of $185 billion slightly trails the $186.2 billion predicted by analysts. it was the highest gainer on the Dow.
$Apple (AAPL.US)$ Thursday reported that Q4 adjusted earnings and revenue beat and came in just above estimates for iPhone 16 sales worldwide. Adjusted earnings of $1.64/share, vs estimates of $1.60/share, on revenue of $94.93 vs estimates of $94.37B. Shares fell after weak guidance for its December holiday sales.
$Intel (INTC.US)$ shares jumped 7% Friday after its Thursday revenue came in high, but the firm lost an adjusted 46C a share in the Third quarter. Revenue for the quarter reached $13.28 billion, about 260M higher than estimated. New CEO Pat Gelsinger attempted to downplay loss and pin it to the previous leadership after he took the reigns in September.  
Within industries tracked by moomoo, Internet Retail was soaring with Amazon at the head- bringing 2T in market cap power to pull up much smaller firms.
Friday Market Climbs on Amazon Earnings, Labor Numbers at Four-Year Low | Live Stock
$Crude Oil Futures(JAN5) (CLmain.US)$ climbed, $Bitcoin (BTC.CC)$ rose back to $71k, while gold and silver fell. The       $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the       $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.
The market was climbing Friday after a profoundly busy earnings week. Just past 10:44 am ET the     $S&P 500 Index (.SPX.US)$ traded +87 bps, the       $Dow Jones Industrial Average (.DJI.US)$ climbed 1% and the     $Nasdaq Composite Index (.IXIC.US)$ climbed 1%.
In macro, non-farm employment numbers came in at the lowest monthly report since 2020, when the number went negative during the first major wave of the pandemic. Still, the unemployment rate remained at 4.1%.
Friday Market Climbs on Amazon Earnings, Labor Numbers at Four-Year Low | Live Stock
Who will win the Presidential Election, and how will it affect the market?
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Yesterday, users watched as Amazon's results beat pulled shares of Microsoft and others higher, that were up until that point falling for the week. It is amazing what a little positivity can do.
Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!
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