Wall Street ends October higher as megacap tech lifts indices into fresh streaks

U.S. equities closed October with solid gains, extending multi-month streaks across the S&P 500 and Nasdaq. A strong earnings season, led by megacap technology, underpinned breadth improvements and risk appetite into November. Amazon’s post-results rally amplified tech leadership, while easing rate expectations and an improving capex outlook supported multiples. Strategists noted the S&P 500’s renewed record cadence and Nasdaq’s seven-month run, even as macro risks linger around labor softness and consumer resilience. Portfolio positioning tilted toward quality growth and AI beneficiaries, with defensives mixed. Futures suggested a steady Asian handoff and modest positive bias into the new month.