Connect with us

Hi, what are you looking for?

Markets

U.S. stocks open lower as Amazon’s cloud outlook, sticky inflation disappoint investors

U.S. stock indexes opened lower on Friday after Amazon warned about a slowdown in its cloud business, while strong inflation data cemented expectations for higher rates in the U.S.. The Dow Jones Industrial Average dropped 70 points, or 0.2%, to 33,758. The S&P 500 was down 0.1%, while the Nasdaq Composite lost 0.3%. Amazon.com Inc. shares slumped 2.5% after the company’s chief financial officer said in a conference call on Thursday that the company’s cloud revenue is decelerating in the current quarter. In economic data, the cost of goods and services rose 0.1% in March and the yearly rate of inflation slowed again…

Read the full article here

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

This article was written by Follow Hi, my names Tyler! While I am currently a student at University of South Carolina well on my...

News

This article was written by Follow Buyside analyst covering global stocks on Seeking Alpha since 2018. I’ve been investing personally and professionally across major...