Amazon is the leading online retailer and marketplace for third party sellers. Retail related revenue represents approximately 75% of total, followed by Amazon Web Services' cloud computing, storage, database, and other offerings (15%), advertising services (5% to 10%), and other the remainder. International segments constitute 25% to 30% of Amazon's non-AWS sales, led by Germany, the United Kingdom, and Japan.

The S&P 500 couldn't hold 6,000 on Tuesday, finishing down a modest 0.3%, while the NYSE couldn't hold 20,000, dropping 0.8%. The Nasdaq, Nasdaq100, and S&P 100 were all flat. The larger losses came from recent leaders, with the S&P MidCap 400 falling 1% and the S&P SmallCap 600 dipping 1.5%. Has a fear of large, round numbers on some of the major indices replaced a fear of missing out (FOMO)? Or can we just call it profit taking on a very short, but torrid, advance higher? With the smaller and less-concentrated indices falling the most, the reading for market breadth was very bad. The reading for NYSE advances-decliners was -1,917; the reading for NYSE advancing issues/total issues was a weak 20% (one of the worst days in recent months); and the reading for NYSE advancing volume/total volume was 29%. The S&P 500 sectors didn't inspire a lot of confidence, but it's only one day. Materials dropped 1.7%, Healthcare gave up 1.4%, Consumer Discretionary and Real Estate fell 1.3%, Utilities dipped 1.2%, and Industrials fell 0.9%. Communication Services led, with a 0.5% gain. Bitcoin reached $90,243 intraday despite the continued rally in the U.S. Dollar Index. So much for the consistent negative correlation between the two assets. However, gold futures fell to $2,606/oz., the lowest mark since September and a clear trend break. Silver futures finished near $31/oz., after hitting $35/oz. late in October. The COT data for metals remains bearish and the COT data for the greenback remains bullish -- so additional weakness in metals is quite possible. (Mark Arbeter, CMT)

Amazon.com is the leading U.S. e-commerce retailer and among the top e-commerce sites globally. Amazon.com also includes Amazon Web Services (AWS), the global leader in cloud-based Infrastructure-as-a-Service (IaaS) platforms. The company's Prime membership platform is a key online retail differentiator, providing customers with free shipping (after an annual fee) along with exclusive media content (music, video, audible books, etc.). The company's Kindle reader and Alexa-based Echo and Dot digital voice assistants are category leaders.

Stocks are solidly higher Friday morning, led by good earnings from various companies (with Amazon and Intel leading the charge) as well as a jobs report that is being broadly interpreted as meaning that Fed will indeed cut interest rates further next week. Traders may finally be starting to look ahead, positioning themselves for a world in which the name of the next U.S. president will be known, the economy will remain on solid footing, interest rates will continue to head lower, and inflation will finally hit the magic 2% level.