Amazon shares jumped 13% in Friday's trade, leading a broad rebound in technology stocks after the e-commerce giant reported better-than-expected quarterly earnings.
The rally extended gains from the previous session, providing the primary lift for Wall Street's major indices as investors rotated into growth names ahead of the month-end close.
The Nasdaq Composite led gains among Wall Street's major indices on Friday, buoyed by the significant rally in Amazon shares.
The e-commerce and cloud-computing giant's stock jumped 13.7%, providing the primary lift for the tech-heavy index.
This surge helped offset declines in other large-cap technology names, including Apple, which faced selling pressure during the same session.
Three of the 11 sectors in the S&P 500 advanced in the morning trade, with consumer discretionary leading the way thanks to Amazon's performance.