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Amazon.com, Inc. AMZN shares traded lower by 4.77% to $114.56 to close Friday’s trading session, but were otherwise marginally higher by 0.73% for the week. Amazon shares were trading sharply lower Friday amid overall market weakness after better-than-expected US unemployment data dimmed hopes for a Federal Reserve policy pivot. Continued hawkish Fed policy could drive an economic slowdown, which would negatively impact consumer spending.
What’s Going On In The Broader Market?
The U.S. added 263,000 jobs last month, outpacing average economist estimates of 250,000 jobs, according to Benzinga Pro.
New data from the Bureau of Labor Statistics showed the U.S. unemployment rate at 3.5%, beating the 3.7% level economists had projected. The labor participation rate dropped 0.1% to 62.3%, compared to the 63.4% pre-pandemic rate in February 2020…Read More
See Also: American Workers Seeing Drop In Real Wages Under Biden Administration: Report
According to data from Benzinga Pro, Amazon has a 52-week high of $188.11 and a 52-week low of $101.26.
Photo: Courtesy of Phil Murphy on flickr
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Image and article originally from www.benzinga.com. Read the original article here.