Amazon.com (NASDAQ:AMZN) shares are trading higher amid overall market strength as traders assess Fed policy outlook, rising Treasury yields and quarterly earnings reports.
Shares of several retail & apparel companies, including Amazon, have otherwise experienced weakness in 2022 amid continued concerns over Fed tapering in order to combat inflation. Amazon shares are lower by 8.00% on a year-to-date basis.
Investors continue to assess upcoming corporate earnings in April while a new 2-year high of 2.930% for the U.S. 10-Year Treasury Tuesday has otherwise not impacted growth companies for the session. In general, when interest rates rise, the value of future cash flows is reduced for stocks, which in turn lower the value of the stock.
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According to data from Benzinga Pro, Amazon is trading higher by 2.72% at $3,138.81.
