The e-commerce company offered few details about the sales event. One analyst said it’s “mostly just another day on Amazon.” Read More...
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Why Amazon, Shopify, and MercadoLibre Stocks All Fell Today
Amazon (NASDAQ: AMZN), Shopify (NYSE: SHOP), and MercadoLibre (NASDAQ: MELI) were all diving today after the September Consumer Price Index (CPI) came in hotter than expected. Wall Street was eagerly anticipating the report, as the inflation number is one of the biggest factors impacting the Federal Reserve’s decision on interest rates. With the month-over-month CPI up 0.4%, its fastest growth in three months, and the year-over-year number still high at 8.2%, it’s clear that inflation continued to be a problem for the economy in September.
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