Stock Market Today, Oct. 19: Amazon Surges on Morgan Stanley Top Pick and $350 Price Target
Amazon.com (NASDAQ:AMZN), a global e-commerce, cloud computing, and digital advertising platform, closed at $262.45, up 4.98%. Morgan Stanley’s top-pick call and higher price target lifted shares, and investors are watching Amazon Web Services (AWS) growth in the company’s October 29 earnings report.
Trading volume reached 54.5 million shares, coming in about 4% above its three-month average of 38.9 million shares. Amazon.com IPO’d in 1997 and has grown 263,927% since going public.
The S&P 500 (SNPINDEX: ^GSPC) closed at 7,691, up 0.42%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) closed at 26,431, up 1.11%. Within internet retail, cloud computing, digital advertising, and logistics services, Walmart (NASDAQ:WMT) closed at $118.70, down 0.09%, while Microsoft (NASDAQ:MSFT) closed at $533.52, up 0.84%, underscoring mixed trading as cloud scrutiny and AI spending stay in focus.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.