Amazon, Charter Communications, Apple, and More

U.S. equities kicked off the new month with solid gains at midday, with the tech sector getting a boost from Amazon’s (AMZN) strong earnings news. A weaker-than-expected jobs report also raised optimism about future Federal Reserve rate cuts. The Dow Jones Industrial Average, S&P 500, and Nasdaq all were up about 1%.

Amazon exceeded profit and sales estimates as its cloud and advertising revenue grew.

Charter Communications (CHTR) shares jumped after the cable TV, mobile, and internet services provider posted better-than-anticipated results as it lost fewer subscribers than anticipated.

Shares of Atlassian (TEAM) soared when the provider of software and services for developers and project managers also reported results that beat forecasts and raised its guidance on surging subscriptions driven by demand for artificial intelligence (AI) technology.

Apple (AAPL) shares fell as the iPhone maker’s sales in China slowed.

Shares of Wayfair (W) slumped after the online home furnishing retailer lost customers, and total orders and orders from repeat customers declined.

Amcor (AMCR) shares dropped when the global packaging firm missed earnings and revenue estimates on unfavorable price/mix and foreign exchange rates. 

Oil and gold futures rose. The yield on the 10-year Treasury note gained. The U.S. dollar was up on the euro and yen, but lost ground to the pound. Prices for most major cryptocurrencies were lower.