By Caitlin Ostroff and Caitlin McCabe

U.S. stocks wobbled Friday, largely shrugging off a decline in shares of $Apple(AAPL.US)$ and $Tiger Global Holdings(BK2121.US)$ after the companies' earnings showed even the biggest winners during the Covid-19 pandemic have been affected by supply-chain problems and tight labor markets.

Investors during earnings season have been on high alert for signs that stickier-than-expected inflation as well as shipping and logistics delays are eating into companies' profits. On Thursday, Apple said supply-chain disruptions were hindering the manufacturing of iPhones and other products and would bring increased difficulties during the holiday-shopping season. Amazon posted lower-than-expected third-quarter sales and signaled that a tight labor market and supply-chain disruptions would weigh on fourth-quarter earnings.

$S&P 500 index(.SPX.US)$ added 8.96 points, or 0.2%, Friday to end at 4605.38. For the month, it added 6.9%, the index's largest percentage gain since last November. The technology-heavy $Nasdaq Composite Index(.IXIC.US)$ also notched its best performance since November, adding 7.3% for October. For the day, the index added 50.27 points, or 0.3%, to finish at 15498.39.

The $Dow Jones Industrial Average(.DJI.US)$, meanwhile, gained 89.08 points, or 0.2%, Friday to end at 35819.56. For October, the index gained 5.8%, its best monthly showing since March.

Apple shares fell 2.2%, and Amazon.com shares retreated 2.8%. Together, the companies account for nearly 10% of the S&P 500's market capitalization.

"I think investors are taking [Apple and Amazon's earnings results] in stride because they've seen broader strength across the market" during earnings season, said Keith Lerner, co-chief investment officer at Truist Advisory Services. "You're seeing this quarter that corporate America is showing how adaptable it is."

Major indexes are on pace to close October with big gains. The S&P 500 is up 6.6% this month, on pace for its largest monthly increase since November of last year. The Nasdaq Composite has climbed 6.9% month-to-date, while the Dow is up 5.5%.

Their performance marks a sharp turnaround from September. But a strong earnings season and low volatility helped turn the U.S. stock market around in October. About 82% of S&P 500 companies that have reported so far this season have beaten expectations for earnings, according to FactSet data from early Friday afternoon.

Throughout earnings season, companies across many sectors have warned about supply-chain and labor constraints. But many are also betting customers will keep paying higher prices.

Supply-chain problems are "not a terrible thing for corporate profits," said Jonathan Golub, chief U.S. equity strategist and head of quantitative research at Credit Suisse.

On Friday, the two largest U.S. oil companies, $Exxon Mobil(XOM.US)$ and $Chevron(CVX.US)$, reported their most profitable quarterly earnings since before the pandemic. Shares gained 0.2% and 0.9%, respectively.

$Starbucks(SBUX.US)$ shares slid 7.4% after the coffee chain said its U.S. sales were strong.

Fresh data Friday showed that U.S. consumer spending grew more slowly in September, as the Covid-19 Delta variant and supply-chain disruptions weighed on households.

Overseas, the pan-continental Stoxx Europe 600 added 0.1% for the day and 4.6% for the month. Shares of Volvo Cars, the Swedish auto maker controlled by China's Zhejiang Geely Holding, rose more than 20% from its initial public offering price when it started trading Friday in Stockholm.

In bond markets, the yield on the 10-year Treasury note ticked down to 1.560% from 1.568% Thursday. Yields fall when prices rise.

Investors sold off eurozone government bonds after fresh data showed that inflation in the eurozone accelerated in October at the fastest pace since July 2008.

This came after European Central Bank President Christine Lagarde said Thursday that investors were wrong to expect the ECB to increase interest rates next year in response to rising inflation. The selloff in bond markets this week suggests investors doubt the central bank's ability to hold that line.

"The market was betting on the full credibility of the ECB, and is now having doubts," said Sebastien Galy, macro strategist at Nordea Asset Management.

In Asia, stock indexes closed with mixed performance. China's Shanghai Composite added 0.8% for the day, but posted a 0.6% loss for the month. Hong Kong's Hang Seng fell 0.7% on a daily basis but rose 3.3% for the month. South Korea's Kospi declined 1.3% for the day and 3.2% for the month.