Stocks rose on Friday to end a winning week on Wall Street as Big Tech earnings helped boost the broader market higher. The Dow Jones Industrial Average climbed over 270 points, while the S&P 500 Index and Nasdaq Composite rose 0.8% and 0.7%, respectively.
Here's how the market settled to close out the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Friday's gains also helped notch a winning week and month for all three major averages. The Dow finished April up 2.5%, for its best monthly performance since January. The 30-stock index also ended the week 0.9% higher. The S&P 500 rose 1.5% for April for its second positive month in a row, and also gained about 0.9% for the week. Meanwhile, the Nasdaq ended the month only slightly higher, with the tech-heavy index benefiting from a 1.3% gain for the week from better-than-expected mega-cap earnings tech earnings this week.
In the spotlight on Thursday, Amazon
CFO Brian Olsavsky told analysts during Amazon's earnings call that AWS revenues for April grew at about 11%, decelerating from the quarter's growth rate of 16%. Moreover, its AWS unit's grow dramatically declined from the same quarter last year's rate of 37%.
"As expected, customers continue to evaluate ways to optimize their cloud spending in response to these tough economic conditions in the first quarter," Olsavsky told analysts. "We are seeing these optimizations continue into the second quarter with April revenue growth rates about 500 basis points lower than what we saw in Q1."
Separately in tech, Snap
Intel
Elsewhere in earnings news, major players in the energy market reported results on Friday. ExxonMobil
On the economic front, the personal consumption expenditures (PCE) price index showed prices rose 0.1% month-to-month in March and 4.2% annually, according to the Bureau of Economic Analysis' report on Friday. Moreover, on a core basis -- which excludes food and energy prices -- prices rose 0.3% over last month and 4.6% over last year.
The University of Michigan's consumer sentiment index's final reading for April ticked higher at 63.5.
"Consumer sentiment was little changed this month, inching up less than two index points from March," said Joanne Hsu, director of the Surveys of Consumers, in a statement. "Buying conditions for durables improved 11% primarily on the basis of easing perceptions of unaffordability. Despite the increasingly negative news on business conditions heard by consumers, their short and long-run economic outlook improved modestly from last month."
Looking ahead, Wall Street is preparing for the Federal Reserve's latest monetary policy decision, which is scheduled for Wednesday afternoon.