Amazon.Com Inc (AMZN)
Amazon.com Inc (AMZN) is a global technology and e-commerce giant founded by Jeff Bezos in 1994. It started as an online bookstore and has since expanded into a vast online marketplace offering a wide range of products and services. Amazon is also a leader in cloud computing through its Amazon Web Services (AWS) division, providing scalable cloud infrastructure and services to businesses worldwide. Additionally, Amazon is involved in digital entertainment, artificial intelligence, and logistics, making it one of the world's most influential technology companies.
Company News
The S&P 500 experienced a decline of about 1%, reflecting a growing market divergence between tech stocks and other sectors, driven by insufficient market liquidity. The market's dispersion index fell while implied correlation rose, suggesting potential continued market contraction.
Yoolax's Outdoor Lighting and Shading System received the MUSE Design Award, recognizing its innovative smart outdoor shading technology that offers versatile, solar-powered, and user-friendly solutions for enhancing outdoor living spaces.
Swiss bank Pictet sold nearly 3 million Nike shares worth $221.7 million in Q3, reducing its stake by over 90% and opening put positions, signaling bearish sentiment amid Nike's challenging financial performance.
Stock futures were mixed as big tech companies reported quarterly earnings. Alphabet and Apple showed positive results, while Meta and Microsoft experienced declines. The market awaits further economic data and Fed commentary.
