Stock markets recovered today as the S&P 500 and Nasdaq Composite rose after strong results from Amazon.com, Inc. reignited faith in Big Tech. Amazon’s shares jumped by about 12% following a third-quarter earnings beat. Amazon’s cloud business, Amazon Web Services (AWS), posted 20% year-on-year growth in revenue, driven by demand for AI and cloud infrastructure.

Investors interpreted the strong tech signal as a sign that the broader tech sector might be stabilising. That pushed both indexes higher: the S&P 500 lifted and the Nasdaq out-performed as large tech stocks gained.

Still, some analysts caution that challenges remain, including margin pressure and global economic uncertainties. But for now, Amazon’s upside surprise has helped rebound market sentiment.