Amazon hits record, Netflix gains as broader market struggles [CNBC]
Meta Platforms, Inc. - Class A (FB)
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Source: CNBC
show chapters Shares of Amazon hit an all-time high on Monday to lead large-cap tech stocks higher, while the broader stock market struggled for gains as the corporate earnings season kicked into full swing. Amazon rose 0.7 percent as Prime Day got under way. Sales during last year's Prime Day surged 60 percent and reached a record. Cowen analyst John Blackledge said in a note he expects another record year for Prime Day in 2018. Amazon extended Prime Day '18 to 36 hours and is available in 4 add'l countries, including WFM locations, and will feature more than a million deals globally. Beyond adding further revenue/GMV, Prime Day is a key driver of Prime subs, which we view as the core driver of LT eCommerce growth, he said. Facebook and Apple rose 0.5 percent and 0.6 percent, respectively, while Netflix jumped 1 percent ahead of earnings. The major stock indexes, meanwhile, chopped around the flatline as some of the largest U.S. companies release
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