Amazon.com, Inc. (NASDAQ:AMZN) shares are trading higher by 5.66% to $122.44 Tuesday morning following bullish commentary on the stock from JPMorgan.
In a Tuesday note, the firm said Amazon remains its ‘Best Idea’ as it expects year-over-year revenue acceleration, margin expansion and capex moderation to ‘drive significant FCF inflection in 2023.’
A drop in treasury yields has helped lift the broader market in today’s session as the 10-year Treasury yield hit an intraday low of 3.583% Tuesday morning.
Equities fell in September due to concerns over inflation, contractionary Federal Reserve policy and a potential recession.
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