Wall Street's main stock indexes ended the week higher on Friday, with their biggest boost coming from Amazon's upbeat earnings forecast, but sentiment was dampened by worries that the Federal Reserve is becoming more cautious about cutting rates.

The S&P 500, the Nasdaq Composite and the Dow boasted weekly gains and their longest monthly winning streaks in years.

Amazon shares rallied sharply, closing up 9.6 percent after hitting an all-time high following its forecast for quarterly sales above estimates. The online retailer and cloud services giant helped the consumer discretionary sector close up 4 percent for its biggest one-day gain since May 12.

But elsewhere in megacap companies, Apple's shares closed down 0.4 percent after its forecast for iPhone holiday-quarter sales surpassed Wall Street expectations was clouded by chief executive Tim Cook's flagging of supply constraints.

And in remarks that cooled investor hopes for policy easing, Federal Reserve Bank of Atlanta president Raphael Bostic said on Friday that a December rate cut was not locked in despite market expectations for a cut.

And his Cleveland counterpart, Beth Hammack, said she had opposed Wednesday's rate cut because inflation is too high. On Friday, traders were pricing in a 65 percent probability of a December rate cut, down from 72.8 percent on Thursday and 91.7 percent a week ago, according to CME Group's FedWatch tool.

"The theme today is pretty similar to what we saw yesterday. It's earnings coming in a little better than expected but tempered by a little more hawkish commentary from the Fed," said James Ragan, co-CIO and director of investment management research at D A Davidson.

Jake Seltz, portfolio manager for the Empiric LT Equity team at Allspring, said investors "may have gotten in front of their skis" in their bets for lower rates.

Some grocery stocks traded lower on Friday on worries about a dip in November sales if federal food aid benefits under the Supplemental Nutrition Assistance Program, lapse in the ongoing government shutdown. Two federal judges ruled on Friday that US President Donald Trump's administration cannot suspend food aid for millions of Americans during the shutdown, saying the government must use contingency funds to pay for the benefits.

But shares of grocer Kroger ended down 2.8 percent while food supplier Conagra Brands lost 1.3 percent and Walmart ended down 1 percent even after the rulings.

The Dow Jones Industrial Average rose 40 points, or 0.09 percent, to 47,562, the S&P 500 gained 17 points, or 0.26 percent, to 6,840 and the Nasdaq Composite gained 143 points, or 0.61 percent, to 23,724.

For the month, the S&P 500 was up 2.27 percent, for a sixth consecutive monthly gain, which was its longest such streak since August 2021.

The Nasdaq Composite added 4.7 percent for October, capping a seven-month winning streak, its longest since early 2018. The Dow rose 2.5 percent for the month, for its sixth straight monthly gain and its longest monthly advance since January 2018.

For the week, the S&P 500 rose 0.7 percent while the Nasdaq added 2.24 percent and the Dow climbed 0.75 percent.

Of the 315 S&P 500 companies that have reported third-quarter results so far, 83.2 percent have surpassed analysts' estimates, according to LSEG data. That is well above the historical average, where roughly 67 percent of firms beat forecasts. (Reuters)