Amazon.com, Inc. (NASDAQ:AMZN) shares are trading higher by 2.21% to $92.55 going into the close of Tuesday’s session amid overall market strength following lighter-than-expected November CPI figures.
Fed monetary policy tightening could begin to taper off as inflation cools down, which would positively benefit growth stocks. Also, a decline in Treasury yields is positively impacting the sector.
What’s Going On With CPI Data?
The headline CPI rose 7.1% in November, down from 7.7% in October, according to data from the U.S. Bureau of Labor Statistics.
The November CPI reading came in below average economist estimates of 7.3%.
Tuesday’s highly anticipated CPI inflation reading comes just a day ahead of the Federal Reserve’s final meeting of the year…Read More
See Also: Inflation Slows Significantly In November, Sending Stocks Higher: What You Need To Know
According to data from Benzinga Pro, AMZN has a 52-week high of $174.17 and a 52-week low of $85.87.
