IMO:CC - Dow Thunders Ahead 600+ Heads for Winning Week

Stocks rose on Friday despite a tumble in Amazon shares after economic data pointed to slowing inflation and a steady consumer.

The Dow Jones Industrials leaped 636.18 points, or 2%, to 32,669.40

The S&P 500 climbed 63.25 points, or 1.7% to 3,870.55.

The NASDAQ jumped 191.59 points, or 1.8%. to 10,984.26.

The Dow is set for gains of 4% on the week, and the S&P is on pace to end the week higher by about 2%. The NASDAQ looks to finish slightly lower.

For the Dow, it would be its fourth positive week in a row.

Amazon plunged by 13% after the company posted weaker-than-expected quarterly revenue and issued disappointing fourth-quarter sales guidance Thursday. Apple shares were initially lower too in extended trading Thursday after the company reported weaker-than-anticipated iPhone revenue, but the stock has reversed and was last up more than 7%. The company beat Wall Street estimates for quarterly earnings and revenue.

Apple and other more positive performers, like Intel, have given investors footholds within what some see as a particularly tumultuous tech sector, subsequently providing upward pressure to the tech-heavy Nasdaq, say the experts, who added the market was also boosted by oil giants Chevron, better by 2% and Exxon Mobil, up 0.8%, after both reported beating expectations before the bell.

The market got a boost after the core personal consumption expenditures price index in September increased 0.5% from the previous month and 5.1% from a year ago, still high but mostly in-line with expectations.

This is the preferred gauge of inflation for the Federal Reserve. Personal spending rose 0.6%, more than expected, the data showed.

Treasury prices faded, raising yields to 4% from Thursday's 3.92%. Treasury prices and yields move in opposite directions.

Oil prices sagged $1.19 to $87.89 U.S. a barrel.

Gold prices dipped $22.30 to $1,643.30 U.S. an ounce.