US Stocks Advance, Poised for Robust Monthly Gain
US stocks were in the green on the final trading day of October, with the S&P 500 up 0.6%, the Nasdaq gaining 1.2%, and the Dow Jones rising about 40 points, as investors welcomed a fresh batch of strong corporate earnings.
Nvidia rose 2% after unveiling new partnerships with South Korea’s biggest firms. Apple gained 0.5% after topping revenue expectations and issuing an upbeat holiday forecast. Amazon surged almost 11% following its fastest cloud-unit growth in nearly three years, while Netflix advanced around 2.3% after announcing a 10-for-1 stock split. Chevron added 1.5% after reporting better-than-expected earnings and revenue. In contrast, Exxon Mobil slipped roughly 0.8% as its quarterly profit declined year over year.
For the month of October, the S&P 500 gained more than 2%, the Nasdaq jumped nearly 4.1%, and the Dow Jones advanced 2.4%, putting the Dow on track for its sixth consecutive monthly gain, its longest winning streak since 2018.
Source: Tradingeconomics.com
