The markets are holding onto gains, including a 0.35% rise in the Nasdaq Composite, as tariff discussions between the Trump administration and China appear set to resume. Meanwhile, Friday’s upcoming jobs report is in focus amid recent signs of a weakening labor market originating from the private sector and the latest jobless claims data. Economists predict an increase of 125,000 jobs for May, reflecting a decline from April levels. The Fed will be watching for any signals from the tariff environment ahead of its mid-June meeting.
Ned Davis Research has published a report saying that the growth trade is back on, owing to normalcy returning to the markets, advising investors to choose growth stocks over value ones. The markets have become less volatile than they were just a couple of months ago, with the CBOE Volatility Index (VIX) currently hovering at 17 compared with climbing as high as 60 at the height of the tariff wars. The markets are oscillating between positive and negative ground today, most recently turning higher, including a 0.40% advance in the Nasdaq Composite.
Wall Street analysts have turned increasingly bullish on Amazon stock. Here’s a roundup of the most recent analyst moves:
Earlier this week, BofA reiterated a Buy rating on AMZN and raised its price target from $230 to $248. The analysts highlighted Amazon’s advancements in robotics and AI, noting these could add approximately 2 percentage points to retail margins, supporting further upside.
JPMorgan maintained an Overweight rating and increased its price target from $225 to $240. The firm emphasized Amazon’s leadership in e-commerce and Amazon Web Services (AWS), along with margin tailwinds and a strong free cash flow (FCF) ramp, fueling a bullish long-term outlook.
Barclays reiterated an Overweight rating with a price target of $240, noting that delays in Amazon’s Project Kuiper (satellite internet initiative) are expected and priced into the stock. They expressed confidence in Amazon’s 2025 launch cadence and cost guidance for the project.
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The markets remain fickle, but today there is reason to be optimistic. Discussions have reemerged between the White House and Beijing, according to Chinese media reports. This has revived the ‘risk-on’ trade and sent major stock market indices higher across the board. In a last-ditch effort, officials from both sides are trying to salvage trade talks that had previously stalled. Sectors of the economy are mixed today, with no clear conviction in either direction.
Amazon (Nasdaq: AMZN | AMZN Price Prediction) has been capturing attention lately, most recently for announcing a $10 billion bet on AI-powered data centers in North Carolina. The stock is up 1.7% today. Additionally, the markets are keeping an eye on the broader S&P 500 index, which will announce changes to its member lineup on Friday. Bank of America has offered its two cents, suggesting that AppLovin (Nasdaq: APP) and Carvana (NYSE: CVNA) could muscle their way into the index.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 60.49 (+0.14%)
Nasdaq Composite: 72.99 (+0.38%)
S&P 500: Up 16.85 (+0.28%)
In a bullish move for Big Tech, analyst firm Daiwa has reiterated its “outperform” rating on Nvidia (Nasdaq: NVDA) stock, lifting the price target to $165 per share, reflecting upside potential of 17%. Separately, Bank of America analysts reemphasized NVDA stock as one of their top picks with a $180 price objective, saying it’s in the best spot to capture the benefits of the “AI tide.”
Tesla (Nasdaq: TSLA) is losing close to 5% today after Elon Musk turned his attention to the U.S. tax bill.
Broadcom (Nasdaq: AVGO) will release its quarterly results after the closing bell today. The stock is trading slightly lower this morning.
Procter & Gamble (NYSE: PG), a Dow component, is down 1.4% after revealing massive layoffs to the tune of 7,000 jobs amid a wider corporate restructuring.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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