Equities Mixed Intraday as Amazon Jumps

02:09 PM EDT, 10/31/2025 (MT Newswires) -- US benchmark equity indexes were mixed intraday as Amazon.com (AMZN) shares surged following its third-quarter results, while investors parsed comments by two Federal Reserve officials.

The Nasdaq Composite was up 0.3% at 23,651.3 after midday Friday, while the Dow Jones Industrial Average fell 0.3% to 47,367.1. The S&P 500 was little changed at 6,820.7. Among sectors, consumer discretionary paced the gainers, while utilities saw the biggest drop.

In company news, Amazon (AMZN) shares jumped nearly 11%, the top gainer on the Dow and the second-best performer on the S&P 500. The e-commerce giant late Thursday logged third-quarter results above Wall Street's estimates amid stronger-than-expected sales growth in its Amazon Web Services cloud-computing unit. AWS revenue increased 20%.

Morgan Stanley said Friday that AWS is positioned for faster growth ahead amid a planned capacity boost in the near term and rising backlog.

Chevron (CVX) posted better-than-expected third-quarter earnings, buoyed by higher oil production despite lower crude prices. The company's shares were up 3.3% intraday, the second-best performer on the Dow.

Newell Brands (NWL) shares plunged 27% after the consumer products manufacturer cut its full-year outlook as its third-quarter results missed market expectations amid a bigger-than-expected tariff impact.

US Treasury yields were mixed intraday, with the 10-year rate little changed at 4.1% and the two-year rate dropping 1.2 basis points to 3.60%.

Dallas Fed President Lorie Logan said she would've preferred to leave interest rates unchanged at the central bank's meeting this week amid inflation concerns.

Inflation is likely to surpass the Federal Open Market Committee's 2% target "for too much longer," Logan said.

"I'd find it difficult to cut rates again in December unless there is clear evidence that inflation will fall faster than expected or that the labor market will cool more rapidly."

On Wednesday, the FOMC decided to lower its benchmark lending rate by 25 basis points and reiterated concerns regarding the labor market. Fed Chair Jerome Powell stressed that a rate cut at policymakers' December meeting was not guaranteed.

Kansas City Fed President Jeffrey Schmid voted in favor of holding rates steady at this week's meeting.

"By my assessment, the labor market is largely in balance, the economy shows continued momentum, and inflation remains too high," Schmid said Friday. "I view the stance of policy as only modestly restrictive."

West Texas Intermediate crude oil was up 0.6% at $60.94 a barrel intraday.

Gold fell 0.4% to $3,999.20 per troy ounce, while silver lost 0.8% to $48.21 per ounce.

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