A 7% rise in Amazon shares after earnings is helping to shore up equity market sentiment following a rout yesterday. S&P 500 futures are up 25 points following a 108 point decline yesterday.
Amazon reported a big beat on revenue and earnings. That’s counterbalanced somewhat by Apple, which is down 1.5% premarket.
On the economic front, the softer non-farm payrolls data lowered Treasury yields and will work as a tailwind for stocks.
At the same time, the market is pre-occupied with the election and the latest betting odds have improved for Harris, which isn’t just good for her but could limit the chances of a red sweep.
She has also improved this week to 48-cents at PredictIt from 43-cents. That matches her best since Oct 15.
Shares of the meme stock DJT are also down 6% premarket.
