S&P, Nasdaq Bounce Back After Amazon Earnings, Jobs Report – The Wall Street Journal

The S&P 500 advanced Friday after a better-than-expected January jobs report showed the economy is still growing solidly, giving major stock indexes weekly gains.

The technology-focused Nasdaq Composite jumped 1.6%, a day after the index posted its largest loss since September 2020. The S&P 500 climbed 0.5%. Both were bolstered by a 14% jump in shares of Amazon.com , which surged after the e-commerce giant said profit nearly doubled in the holiday period.

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