The stock market increased on Tuesday as latest job openings data fell to 8.1 million in April, from 8.5 million in March. This was the lowest since February 2021. This also raised investors’ expectations that the Federal Reserve may implement two rate cuts later this year.
Overall, S&P 500 and NASDAQ were up 0.2% to 5,291 and 16,857, respectively.
Tweet of the Day
Nvidia CEO Jensen Huang talks about a new partnership with Dell that will allow companies and government organizations to deploy their own artificial intelligence “factories.”
One of their first customers is ServiceNow, run by Bill McDermott https://t.co/MQGa2S1iwP pic.twitter.com/TcMFJ74irN
— Bloomberg TV (@BloombergTV) May 20, 2024
Chart of the Day
Here is the one-year chart of Amazon (AMZN) as of May 14, 2024, when the stock was at $187.
In last quarter’s earnings call, Amazon continues to please customers with quick and convenient delivery. Management claims that the company delivered in fastest speeds ever to Prime members last quarter. It had more than 2 billion global units arriving same or next day during the quarter. In March, across the top 60 largest US metro areas, nearly 60% of Prime members orders arrived the same or next day, including London, Tokyo, and Toronto.
Moving forward, the company is trying to use less boxes and make fewer deliveries. Management sped up deliveries by utilizing 8 regional warehouses in the US instead one big warehouse. This move has also helped profit margins surge higher.
AMZN is part of our Growth Portfolio and Aggressive Growth Portfolio.
