Hello traders everywhere. Amazon.com Inc (NASDAQ:AMZN) shares fell a little over 2% after it reported a 77% drop in profit as its rapid and costly expansion into new shopping categories and countries shows no sign of slowing. Amazon is the worst performer on the NASDAQ and the second biggest drag on the S&P 500 today, pulling down both indexes today.
In economic news, U.S. economic growth for the second quarter came in-line with expectations, the Commerce Department said Friday. The U.S. economy grew at an annualized rate of 2.%, matching estimates.
Key levels to watch next week:
S&P 500 (CME:SP500): 2,412.79
Dow (INDEX:DJI): 21,279.30
NASDAQ (NASDAQ:COMP): 6,141.83
Gold (NYMEX:GC.V17.E): 1,246.60
Crude Oil (NYMEX:CL.U17.E): 47.86
U.S. Dollar (NYBOT:DX.U17.E): 94.90
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
