(Sharecast News) - Major indices were sharply higher at the opening bell on Friday as market participants shrugged off disappointing tech earnings and fears of a cryptocurrency collapse.
As of 1515 GMT, the Dow Jones Industrial Average was up 1.53% at 49,655.80, while the S&P 500 advanced 0.84% to 6,855.24 and the Nasdaq Composite came out of the gate 0.53% firmer at 22,660.14.
The Dow opened 747.08 points higher on Friday, more than reversing losses recorded in the previous session.
Online retail giant Amazon was in focus at the open after posting another quarter of solid revenue growth late on Thursday, driven by a strong showing from AWS, but shares fell in extended trading after it unveiled plans for a major increase in capital spending in 2026. AWS revenue climbed almost 24% in the fourth quarter to $35.58bn, ahead of market expectations, and accounted for about 17% of total sales, while total revenues came in at $213.39bn, up from $187.79bn last year and marginally ahead of consensus, marking the fourth straight quarter in which Amazon has topped revenue expectations. At group level, Amazon reported adjusted earnings of $1.95 per share.
However, shares traded lower prior to the open after chief executive Andy Jassy said Amazon expects to invest around $200bn in 2026, largely directed toward AWS, a figure well above consensus estimates of $148.86bn.
In terms of Friday's earnings, tobacco giant Phillip Morris said revenue had risen 6.8% to $10.4bn in its fourth trading quarter as it reported a fifth consecutive year of volume growth, while sportswear company Under Armour posted quarterly earnings per share of $0.09 per share, coming in well and truly above of estimates for $0.02 loss per share, even as revenue was down $74m year-on-year.
Bitcoin was also drawing an amount of investor attention after the benchmark cryptocurrency fell 16% overnight, briefly sinking below $61,000. As of 1140 GMT, bitcoin had recovered somewhat, up 5.37% at $66,173.42.
On the macro front, the University of Michigan's consumer sentiment index rose by 0.9 points to 57.3 in February, according to a preliminary estimate, ahead of market expectations of 55 to mark a third consecutive monthly increase. However, despite the improvement, sentiment was still roughly 20% below the level seen in January 2025.
Still to come, December consumer credit change figures will be released at 2000 GMT.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $51.19 6.12%
Cisco Systems Inc. (CSCO) $83.89 1.86%
Microsoft Corp. (MSFT) $399.58 1.50%
Apple Inc. (AAPL) $279.78 1.40%
Amgen Inc. (AMGN) $372.61 1.31%
Dow Jones - Fallers
Home Depot Inc. (HD) $382.37 0.00%
Procter & Gamble Co. (PG) $158.61 0.00%
Dow Chemical Co. (DOW) $30.60 0.00%
Visa Inc. (V) $329.13 0.00%
Merck & Co. Inc. (MRK) $119.75 0.00%
S&P 500 - Risers
Gen Digital Inc. (GEN) $24.77 10.44%
Advanced Micro Devices Inc. (AMD) $205.12 6.56%
Biogen Inc (BIIB) $196.95 6.25%
KLA-Tencor Corp. (KLAC) $1,411.90 6.08%
Ipg Photonics Corp. (IPGP) $104.98 5.72%
Lam Research Corp. (LRCX) $225.26 5.60%
Intel Corp. (INTC) $50.88 5.47%
Nvidia Corp. (NVDA) $181.28 5.47%
Applied Materials Inc. (AMAT) $319.75 5.18%
American Airlines Group (AAL) $14.88 5.08%
S&P 500 - Fallers
Illumina Inc. (ILMN) $121.63 -8.97%
Amazon.Com Inc. (AMZN) $202.84 -8.91%
VeriSign Inc. (VRSN) $230.20 -5.12%
Microchip Technology Inc. (MCHP) $75.69 -3.00%
News Corp Class B (NWS) $26.59 -2.92%
News Corp Class A (NWSA) $23.59 -2.54%
Nektar Therapeutics (NKTR) $34.47 -1.85%
Alphabet Inc. Class C (GOOG) $325.20 -1.85%
Jack Henry & Associates Inc. (JKHY) $173.91 -1.72%
Meta Platforms Inc. (META) $658.99 -1.67%
Nasdaq 100 - Risers
Gen Digital Inc. (GEN) $24.77 10.44%
Biogen Inc (BIIB) $196.95 6.25%
KLA-Tencor Corp. (KLAC) $1,411.90 6.08%
Lam Research Corp. (LRCX) $225.26 5.60%
Intel Corp. (INTC) $50.88 5.47%
Nvidia Corp. (NVDA) $181.28 5.47%
Applied Materials Inc. (AMAT) $319.75 5.18%
American Airlines Group (AAL) $14.88 5.08%
Broadcom Inc. (AVGO) $325.10 4.70%
Seagate Technology Plc (STX) $424.00 4.58%
Nasdaq 100 - Fallers
Illumina Inc. (ILMN) $121.63 -8.97%
Amazon.Com Inc. (AMZN) $202.84 -8.91%
Sirius XM Holdings Inc (SIRI) $21.30 -5.75%
Mercadolibre Inc. (MELI) $1,947.96 -4.27%
Microchip Technology Inc. (MCHP) $75.69 -3.00%
Alphabet Inc. Class C (GOOG) $325.20 -1.85%
Meta Platforms Inc. (META) $658.99 -1.67%
Verisk Analytics Inc. (VRSK) $182.30 -1.29%
T-Mobile Us, Inc. (TMUS) $199.65 -1.09%
O'Reilly Automotive Inc. (ORLY) $91.95 -0.98%
60.53 (0.59%)
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