New York Stock Exchange Rebound Thanks to Amazon Earnings Despite Employment Shock

Although the U.S. October employment results were shocking, Amazon's strong performance helped the New York stock market rebound from the previous day's plunge.

On the New York Stock Exchange, the Dow Jones 30 Industrial Average closed at 42,052.19, up 288.73 points and 0.69% from the previous session.

The Standard & Poor's 500 closed at 5,728.8, up 23.35 points and 0.41% from the previous session, and the Nasdaq Composite closed at 18,239.92, up 144.77 points and 0.80% from the previous session.

The Philadelphia Semiconductor Index, which comprises artificial intelligence and semiconductor-related stocks, also made up for some of its recent plunge, jumping 54.68 points and 1.11% to 5,001.42.

Experts analyzed that the market used Amazon's better-than-expected sales of $158.9 billion in the third quarter of this year as the basis for the rebound, instead of sluggish employment data in October.