What's Going On With Amazon Stock?
Portfolio Pulse from Henry Khederian
Amazon.com Inc (NASDAQ:AMZN) shares dropped 2.1% amid a broader market decline due to rising Treasury yields, profit-taking, and uncertainties about economic reports and Federal Reserve actions. Investors are anticipating data from the Fed's December meeting and jobs reports. Rising yields impact growth stocks like Amazon by increasing the discount rate in valuation models, potentially lowering stock prices.
January 02, 2024 | 4:39 pm
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Amazon's stock price fell due to market-wide factors including rising Treasury yields and anticipation of economic data. As a growth stock, Amazon is sensitive to interest rate changes which affect its valuation.
Amazon's stock price is directly impacted by the broader market sentiment and rising Treasury yields, which are particularly influential for growth stocks. The anticipation of economic data and Fed decisions adds to the uncertainty, leading to a short-term negative impact on AMZN's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100