What is Going On With Amazon Shares

Amazon.com, Inc. AMZN shares are trading lower by 3.10% to $92.85 Friday afternoon amid overall market weakness following January PCE data, which showed a rise in US inflation. Rising inflation could lead to more aggressive Fed policy, which could negatively impact consumer spending.

So What Happened?

Our Benzingateam reported the headline PCE rose 5.4% in January. That's up from a 5.3% gain in December but still well below its 2022 high of a 7% increase in June. The January PCE reading came in well above economist estimates of 4.9%.

Core PCE inflation, which excludes volatile food and energy prices, was up 4.7% in January, above economist estimates of 4.3%…Read More

According to data fromBenzinga Pro, AMZN has a 52-week high of $170.83 and a 52-week low of $81.43.