Amazon.com, Inc. AMZN shares are trading higher by 10.05% to $94.80 Thursday morning. The stock is trading higher in sympathy with major indices are higher following key U.S. economic data, which showed a slowdown in inflation and a rise in jobless claims. This has alleviated some concerns of high inflation and a tight labor market.
What Happened With CPI Data?
The headline CPI rose 7.7% in October, down from 8.2% in September, according to data from the U.S. Bureau of Labor Statistics.
The October CPI reading came in below average economist estimates of 8%.
Thursday’s highly anticipated CPI inflation reading comes a week after the Federal Reserve raised its benchmark rate by 0.75% for the fourth straight time in a continued fight against historically high inflation…Read More
According to data from Benzinga Pro, AMZN has a 52-week high of $188.11 and a 52-week low of $85.87.
Image and article originally from www.benzinga.com. Read the original article here.