U.S. Stocks Edge Higher as Amazon Weighs on Tech: Markets Wrap

Amazon shares cap 20% decline since reaching September high
China pledges to expand purchases of U.S. goods in trade talks

U.S. Adds 304,000 Jobs in January, Jobless Rate Rises to 4% Markets: European Open. (Source: Bloomberg)

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By Sarah Ponczek and Reade Pickert

January 31, 2019 at 10:02 PM UTC

Updated on

February 1, 2019 at 9:04 PM UTC

This article is for subscribers only.

U.S. stocks eked out a small gain as a better-than-expected jobs report and signs of progress in trade talks overshadowed a disappointing sales forecast from Amazon.

The S&P 500 Index rose less than 0.1 percent, extending a weekly advance to 1.6 percent. Tech-heavy gauges slumped as Amazon capped a 20 percent drop from its September high. Energy companies were the best performers as oil rose to the strongest in more than two months and data showed nonfarm payrolls increased by 304,000 last month, the most in almost a year. The dollar was steady and U.S. Treasury yields rose.