Markets sagged Tuesday as lawmakers in Washington continue to argue over resolution to the debt ceiling. Republican leaders continue to push for a temporary plan while President Obama is threatening to veto any legislation that doesn't provide a long-term solution to the debt ceiling. Stocks held in for most of the day, but sold off hardest in the last hour and a half of trading. While there has been some weakness, investors are mostly acting as if a deal is an inevitability.
After the close, Amazon.com Inc. (AMZN) became the next of the tech leaders to report earnings, and they didn't disappoint. AMZN reported EPS of $0.41 vs $0.35 per share and revenues of $9.91B vs. $9.37B estimated, and the stock is surging higher after hours (currently about 6%). While the jobs picture remains bleak in the US, corporate earnings, especially from leading companies, continue to impress.
*DISCLOSURE: Scott Redler is long DANG, SPY, MS, MCP, AAPL, SLV, V, BAC, YNDX, LVS, JPM, FXE. Long AMZN calls, short AMZN stock.
This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by T3 LIVE or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs. Visit the T3Live Homepage, Virtual Trading Floor, and Learn More About Us.
After the close, Amazon.com Inc. (AMZN) became the next of the tech leaders to report earnings, and they didn't disappoint. AMZN reported EPS of $0.41 vs $0.35 per share and revenues of $9.91B vs. $9.37B estimated, and the stock is surging higher after hours (currently about 6%). While the jobs picture remains bleak in the US, corporate earnings, especially from leading companies, continue to impress.
*DISCLOSURE: Scott Redler is long DANG, SPY, MS, MCP, AAPL, SLV, V, BAC, YNDX, LVS, JPM, FXE. Long AMZN calls, short AMZN stock.
This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by T3 LIVE or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs. Visit the T3Live Homepage, Virtual Trading Floor, and Learn More About Us.
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