Amazon.com, Inc. (NASDAQ:AMZN) shares are trading higher by 3.63% to $142.84 Wednesday morning amid overall market strength following a better-than-expected July CPI report. Today’s report has helped cool inflation concerns and lifted economic sentiment, which could benefit consumer spending.
What Happened?
The headline CPI rose 8.5% in July, down from 9.1% in June. June had marked the highest CPI inflation reading since November 1981. The July CPI reading also came in below economist estimates of 8.7%.
Core inflation, which excludes volatile food and energy prices, was up 5.9% in July, below economist estimates of a 6.1% gain… Read More
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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.
