Amazon in Focus
Exactly as expected and in line with our analysis yesterday, Amazon stock is very much under the microscope, considering that Amazon Prime Day, which lasts for more than a day, started yesterday.
Investors are, according to many analysts in North America, looking at last week's doldrums and preparing for some volatility due to yesterday morning's change in circumstances and the retail bonanza cleverly orchestrated by Jeff Bezos every year since 2015.
Snapchat's parent company Snap, PayPal, Vale, and Intuitive Surgical are also under scrutiny from today's traders, and Intuitive Surgical is closing in on entries.
U.S. Stock Indices Higher
Dow Jones futures rose 0.5% against fair value and S&P 500 futures gained 0.3%, whereas NASDAQ 100 futures have climbed 0.2, all representing a different direction to last week's worst week since January in which it fell 3.5% in the week ending June 18.
Last week, there was concern that the Federal Reserve may raise interest rates sooner than had been expected. If they do, that will start to crimp the flood of cheap money flowing through the economy at zero percent interest.
The blue-chip Dow Jones Industrial Average rose 1.6% today, rebounding from its worst week since October, and the S&P 500 gained 1.1%, whereas the Nasdaq Composite was the relative underperformer with a 0.4% gain as some key tech names including Amazon, Tesla and Netflix all traded in the red.
Given that lackluster performance, it is of interest to note how Amazon will perform this week after the television viewing bonanza spurred by Amazon Prime's showing of Jeremy Clarkson's epic 'Clarkson's Farm' show, and the e-commerce rush that begins on Amazon Prime Day, making a very different outlook from considering downcast Fed policy and potential inflation.
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