But Asian markets took big losses, as the US market did the day before.
The Dow Jones Industrial Average and S&P 500 both were down around 0.5% on the day.
The Dow Jones Industrial Average fell almost 300 points and the S&P 500, a benchmark for many index funds, is now down 9.3 per cent from its September peak.
But other large industrial companies in the Dow fell, including Caterpillar and 3M which dropped 5.6 per cent and 4.2 per cent, respectively.
Even so, traders are concerned about future growth amid rising inflation, interest rates and uncertainty over trade. Their chief concern is that US and global economic growth has hit its high-water mark for the current business cycle and is already starting to weaken. Natural gas declined 1.4 percent to $3.17 per 1,000 cubic feet.
Amazon and Alphabet reported big jumps in quarterly profit, but Amazon's sales forecast for the critical holiday-shopping quarter disappointed analysts, and Alphabet's revenues in the just-finished quarter also lagged expectations.
While third-quarter profit growth estimates have risen to 22.4 percent from 21.6 percent in the last 10 days, weaker forecasts have pulled down fourth-quarter growth estimates to 19.5 percent from 20 percent, according to I/B/E/S data from Refinitiv.
"It's certainly reassuring to see stocks bounce back today on stronger earnings, but I would expect that we continue to see a lot of day to day volatility", said Kate Warne, an investment strategist for Edward Jones.
When the Commerce Department report on third-quarter growth comes out Friday, it's expected to show another solid pickup of 3.3 percent.
Companies with big gains after earnings Thursday included Microsoft, which rebounded 5.8 percent, Tesla, up 9.1 percent, American Airlines, up 6.7 percent, Ford, up 10.0 percent and Twitter, up 15.5 percent.
The Dow closed up 401 points, or 1.6%, on Thursday.
The losses followed a mixed day of corporate earnings that analysts fear signal the economy is exiting the "peak" earnings environment helped by USA tax cuts that were enacted late previous year.
U.S. technology companies have suffered a stock market rout not seen since the throes of the financial crisis, putting years of booming share prices into reverse. But huge companies like Microsoft, Alphabet and Amazon.
Disappointing earnings reports weigh on technology.
The Russell 2000 is down 73.34 points, or 4.8 percent.
The Dow fell 474 points, or 1.9 percent, to 24,494. USA -traded shares of WPP fell 17.5 percent to $57.75. It had dropped 12.3 percent from its record high in late August.
The Nasdaq composite, a bundle of tech shares including Apple, Amazon and Google's parent company Alphabet, has fallen by more than 10pc since the start of October. South Korea's Samsung Electronics sank 3.6 per cent and Japanese telecoms and energy giant Softbank lost 4.4 per cent.
Investors may also be signaling their concern that interest rate hikes by the Federal Reserve will dampen USA economic growth, according to Capital Economics.
Bond prices rose. The yield on the 10-year Treasury note fell to 3.09 per cent.
ENERGY: Benchmark U.S. crude edged up 0.6 percent to settle at $66.82 a barrel in NY. Brent crude, used to price global oils, declined 56 cents to United States dollars 75.61 a barrel.
Wholesale gasoline gained 0.1 per cent to $1.82 a gallon. The Hang Seng Index in Hong Kong was down more than 3%, while the Nikkei 225 fell 2.65%.
Gold rose 0.1 percent to $1,232.40 an ounce. Copper was little changed at $2.76 a pound.