Amazon.com, Inc. (NASDAQ:AMZN) shares are trading higher by 3.06% to $118.78 Friday afternoon. Shares of several companies in the retail & apparel space are trading higher amid overall market strength following a WSJ report suggesting the Federal Reserve may be debating the size of future rate hikes. Fed policy tightening has weighed on consumer spending throughout the year.
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Per the WSJ article: “Federal Reserve officials are barreling toward another interest-rate rise of 0.75 percentage point at their meeting Nov. 1-2 and are likely to debate then whether and how to signal plans to approve a smaller increase in December.”
The WSJ article also notes that Fed governor Christopher Waller said in a speech earlier this month “We will have a very thoughtful discussion about the pace of tightening at our next meeting”.
The broader retail & apparel sector have otherwise been volatile in recent sessions amid a rise in treasury yields.
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According to data from Benzinga Pro, Amazon has a 52-week high of $188.11 and a 52-week low of $101.26.
