By Yasin Ebrahim

Investing.com – The S&P 500, Dow and Nasdaq clinched closing records Friday, as health care and tech stocks combined to coax bullish bets and restore market sentiment following a slide in Apple and Amazon.

It rose by 0.20% to close at record 4,605 on the last day. While the Nasdaq gained 0.33%, closing at 15,498, it was down 0.25% (89 points)

A late flurry intraday bullish betting supported health care stocks, with DXCM and CERN leading the charge. On the upside, latter rose more than 3% following approval by Federal Reserve of Vuity’s eye drops for treating age-related farsightedness.

After the FDA cleared Pfizer-Biontech Covid-19 for children aged 5 – 11, sentiment about health stocks was also supported by an increase in vaccine stocks. 

Amazon and Apple both reported quarterly results that fell short on the bottom line, marking a disappointing end to the wave of big tech results seen this week.  

Apple (NASDAQ) has recovered some of its losses and ended the day with a loss of 1.8%, despite missing Wall Street estimates. Apple cautioned that continuing chip shortages would impact sales.

Wall Street analysts made a series of price reductions, but Wedbush maintained that the Apple slide is an opportunity to buy.

“While the bears will hang their hats on this supply chain issue and a valuation that has re-rated … [we] view any sell off as a buying opportunity given our robust view of Cupertino’s product cycle demand story into 2022,” Wedbush said in a note.

Amazon.com (NASDAQ.) fell 2% in the meantime amid worries about rising cost after Amazon.com forecasted a $4B increase in prices to satisfy demand in fourth quarter due labor and materials shortages.

Facebook (NASDAQ: ) surged 2% following its Wall Street reception of its rebranding announcement, which was made a day before. This came after the release of its quarterly report that had been disappointing earlier in this week.

Facebook declared Thursday that the Metaverse will be its new name. It is a strategic move by Facebook to capitalize and build on its metaverse. The metaverse allows real-world experiences to be replicated online using virtual reality headsets.  

Starbucks (NASDAQ) fell 6% on earnings reports after third quarter revenue fell short of analysts’ estimates due to weaker China demand. This was in response to a spike up in Covid-19 infection.  

The biggest loser was energy, as major oil producers were. Chevron (NYSE: Exxon Mobil (NYSE:) reported quarterly earnings which beat expectations despite losing gains. This was despite the fact that oil prices have risen and they had to report higher earnings.