Wall Street Rebounds Midday as Tech Earnings Drive Momentum on October 31st
Stock Market News·2025-10-31 16:07

Market Overview - The U.S. stock market is showing a mixed but generally positive picture, with major indexes attempting to recover from earlier losses, driven by strong corporate earnings, particularly in the technology sector [1][11] - The Dow Jones Industrial Average (DJIA) is up approximately 348.81 points, or 0.73%, reaching around 47,980.81, indicating a recovery [2] - The S&P 500 (SPX) is slightly down by 0.32% at 6,868.76 points, while the Nasdaq Composite (IXIC) is down 0.99% at 23,722.46 points, reflecting a divergence in market leadership [2] Upcoming Market Events - The market is anticipating a busy week ahead with numerous earnings releases and key economic data announcements [3] - Key economic indicators such as Durable Goods Orders and the Dallas Fed Manufacturing Survey are set for release, which could influence market direction [4] Corporate Developments - Nvidia (NVDA) has surpassed a $5 trillion market capitalization, highlighting its dominance in the AI sector [5] - Amazon (AMZN) shares surged by 12.5% following stronger-than-expected third-quarter sales, driven by its cloud computing business [6] - Apple (AAPL) shares rose 2% after exceeding analyst projections, with strong demand for the new iPhone 17 [7] - Alphabet (GOOGL) saw a nearly 9% increase in shares following earnings that surpassed expectations, while Meta Platforms (META) shares fell 9% due to a significant charge [8] - Eli Lilly (LLY) climbed almost 4% after strong earnings driven by its diabetes and obesity treatments [8] - Reddit (RDDT) shares rose 10.8% after reporting a 68% revenue increase [9] - Disney (DIS) shares dipped 0.8% amid a breakdown in streaming contract negotiations with Google (GOOGL) [10]