Stock Market Update: Amazon’s 9.6% Surge Powers Nasdaq to 23,724 After Friday Close as Dow Steadies at 47,562

Stock Market Update After Friday Close: Amazon’s 9.6% Surge Lifts Nasdaq to 23,724 as Dow Holds 47,562 in Powerful Month-End Rally

After the Friday, October 31, 2025 closing bell, U.S. equities finished the month on a powerful note, completing one of the strongest stretches for Big Tech this year. The Nasdaq Composite (^IXIC) advanced 0.61% to 23,724.96, logging its seventh consecutive monthly gain and a 5.3% jump in October. The S&P 500 (^GSPC) added 0.26% to 5,146.74, and the Dow Jones Industrial Average (^DJI) gained 0.09% to close at 47,562.87, its sixth straight monthly increase.
The rally capped a month marked by surging earnings from Amazon, Apple, and Nvidia, alongside growing optimism that the Federal Reserve’s rate-cut cycle could extend into early 2026. Despite lingering inflation concerns, markets celebrated easing yields, rebounding corporate profits, and a resilient U.S. economy that continues to support risk assets into the final quarter of the year.

Amazon’s Blockbuster Quarter Powers Nasdaq Higher as AWS Grows 20%

Amazon (NASDAQ:AMZN) was the clear star of the session, rocketing 9.58% to $244.22, after briefly touching an intraday high of $250.50, its highest price ever. The rally added over $200 billion in market value in a single session, lifting the company’s capitalization beyond $2.5 trillion.
The e-commerce and cloud leader delivered Q3 earnings of $1.95 per share on $180.2 billion in revenue, sharply ahead of the $1.58 EPS and $177.8 billion expected by analysts. Growth in Amazon Web Services (AWS) was the key driver, with revenue up 20% year-over-year to $33 billion, reigniting confidence in the company’s enterprise momentum after a year of uneven cloud demand.
CEO Andy Jassy emphasized Amazon’s deepening AI commitment, unveiling further investments in its Trainium2 processors and Project Rainier, a massive AI training cluster using over 500,000 chips. The company’s advertising and logistics units also posted record profitability, reinforcing Amazon’s position as the top performer among the so-called “Magnificent Seven” this quarter.

Apple Briefly Touches $277 Record Before Cooling as iPhone 17 Faces Supply Pressure

Apple (NASDAQ:AAPL) joined the rally early Friday, hitting a record intraday peak of $277.32, before easing slightly into the close as traders booked profits. The company’s fourth-quarter earnings topped expectations with EPS of $2.27 and revenue of $92.5 billion, though iPhone 17 sales came in marginally below forecasts due to ongoing supply constraints in Asia.
CEO Tim Cook described demand as “extraordinary,” saying the December quarter is expected to be Apple’s strongest in history. The company continues to benefit from expanding margins in services and wearables, which now account for nearly 30% of total revenue, offsetting weaker Mac sales. Apple’s market cap remains close to $4 trillion, making it one of only three companies globally above that mark, alongside Microsoft (MSFT) and Nvidia (NVDA).
Analysts said Apple’s strong forward guidance solidified investor confidence heading into the holiday season, especially with iPhone backlogs signaling resilient global demand despite softer spending trends in China.

Nvidia Rebounds Toward $5 Trillion Valuation on South Korea AI Expansion

Nvidia (NASDAQ:NVDA) extended its weekly recovery with a modest 0.13% after-hours rise to $202.62, following an earlier 1% intraday advance, as investors cheered the chipmaker’s strategic expansion into South Korea. CEO Jensen Huang announced a deal to supply 260,000 AI chips to the country’s government and major conglomerates, part of a national initiative to develop “sovereign AI” infrastructure independent of U.S.-China tensions.
Huang, speaking at the APEC Summit in Seoul, noted that sovereign AI demand could reach $1.5 trillion globally within the next five years, underlining Nvidia’s central role in the next phase of global computing investment. Despite trade restrictions limiting its Chinese exports, Nvidia continues to diversify across Asia, Europe, and the Middle East, maintaining gross margins near 75%, among the highest in the semiconductor industry.
Nvidia’s market cap ended the session just shy of $5 trillion, after surpassing that milestone earlier in the week, underscoring its dominance in the generative AI ecosystem and its influence over the broader equity market’s momentum.

Netflix Rises 2.7% on 10-for-1 Split and Warner Bros. Discovery Deal Speculation

Netflix (NASDAQ:NFLX) gained 2.74% to close at $1,118.86, after confirming a 10-for-1 stock split effective November 17, and amid reports the company is evaluating a potential acquisition of Warner Bros. Discovery (NASDAQ:WBD). The stock has now climbed over 60% in 2025, supported by double-digit subscriber growth and a surge in ad-supported tier engagement.
Analysts say the stock split could attract fresh retail participation and improve liquidity ahead of the holiday content cycle. A potential Warner Bros. deal, if finalized, would give Netflix control of major franchises including Harry Potter and DC Comics, solidifying its position as the leading global entertainment platform.
Post-split, Netflix shares are expected to trade around $112, maintaining the same valuation but broadening accessibility for new investors, a strategy that has historically led to outperformance following similar corporate actions.

AI Hardware Momentum Propels Western Digital and Seagate to Multi-Year Highs

AI infrastructure investment continued to power hardware suppliers higher. Western Digital (NASDAQ:WDC) surged 8.75% to $150.21, while Seagate (NASDAQ:STX) rose 1.7%, closing out one of their strongest weeks in years. JPMorgan reported that Western Digital has purchase commitments through 2026 with its top five clients, ensuring stable cash flow visibility amid surging storage demand from AI data centers.
Seagate, which guided above Wall Street estimates earlier this week, has rallied 20% in five sessions, making both companies top-three gainers in the S&P 500 for October. Analysts say data storage will remain a key growth pillar of the AI value chain through 2026 as hyperscalers expand global compute capacity.

Energy Majors Outperform as Oil Steadies Near $61 on Earnings Strength

Energy markets were steady as West Texas Intermediate (CL=F) settled at $60.98 per barrel, up 0.68%, and Brent (BZ=F) closed around $64.00. The monthly decline of 3% failed to dent optimism after both Chevron (NYSE:CVX) and ExxonMobil (NYSE:XOM) posted better-than-expected quarterly results.
Chevron reported EPS of $1.85, topping the $1.66 consensus, while Exxon delivered $1.88 versus $1.81 expected, helped by output growth and improved refining margins. Exxon’s production rose 1.1 million barrels per day sequentially, supported by its $53 billion Hess Corp. acquisition. Analysts view this consolidation wave as a sign of strategic positioning for the next oil upcycle expected between 2026 and 2028.
Chevron shares closed 2% higher, while Exxon dipped 0.7%, reflecting differing capital allocation approaches as energy executives focus on efficiency and dividend stability amid moderate price pressure.

Federal Reserve Officials Expose Deep Split Over Rate Path

The week’s 25-basis-point rate cut initially boosted sentiment, but Friday’s speeches from Fed officials reignited policy uncertainty. Kansas City Fed President Jeff Schmid said he would have preferred to hold rates, warning that inflation remains “too high” and that easing too early could damage the Fed’s credibility. Dallas Fed President Lorie Logan echoed this, suggesting patience is warranted before further cuts.
Following their comments, CME FedWatch data showed the probability of another December rate cut dropped from 90% to just 60%, as markets reassessed the central bank’s tone. The 10-year Treasury yield held steady at 4.28%, while the U.S. Dollar Index (DXY) stabilized near 107.2, maintaining pressure on commodities and emerging-market currencies.
Analysts believe the Fed will now pivot to a “data-dependent” stance, keeping the possibility of a pause alive if inflation fails to decelerate in November’s CPI reading.

Bitcoin Recovers Above $109,000, Gold Consolidates Near $4,000 on Safe-Haven Demand

Digital and precious metals markets also saw renewed buying into the weekend. Bitcoin (BTC-USD) climbed back to $109,000, recovering from a midweek dip below $108,000, but still ended October down 4%, marking a pause after its early-month record above $126,000. Despite the pullback, Bitcoin remains up 58% year-to-date, supported by ETF inflows and institutional positioning around the $100,000–$110,000 range.
Meanwhile, Gold (GC=F) closed at $3,996.50 per ounce, down 0.48% but holding firm above $4,000 support after a 2.4% surge on Thursday. The yellow metal remains underpinned by geopolitical risk and the U.S.-China trade truce, which tempered but did not eliminate long-term strategic tension. Traders are watching for a potential breakout toward $4,080 if yields and the dollar ease further in early November.

Outlook: November Opens With Momentum and Fed Uncertainty

With October now behind, markets head into November buoyed by strong Big Tech earnings, easing rate pressures, and robust consumer spending trends. The Nasdaq’s 5.3% monthly rise, combined with gains in the S&P 500 and Dow, sets the stage for continued strength in technology and communication services.
Analysts expect AI, cloud, and semiconductor sectors to remain the market’s core growth engines, while macro volatility may return around key CPI and employment data releases. Institutional investors remain heavily allocated to high-quality growth names, viewing any pullbacks as opportunities to re-enter.
As of Friday’s close, Wall Street’s focus shifts to whether the Federal Reserve will confirm or delay its next rate cut, how corporate guidance evolves into year-end, and whether energy and commodities can stabilize amid a shifting inflation outlook.
The combination of Amazon’s record-breaking earnings, Apple’s supply-constrained success, Nvidia’s trillion-dollar AI leadership, and Netflix’s strategic expansion firmly positions Big Tech as the defining force of this market cycle, carrying momentum into November’s opening week.

That's TradingNEWS