What's Going On With Amazon Shares

Amazon.com, Inc. AMZN shares are trading higher by some 4.58% to $93.99 Wednesday afternoon amid overall market strength as stocks rise ahead of tomorrow's CPI report.

Additionally, Cowen & Co. analyst Ronald Josey on Wednesday maintained Amazon with a Outperform and lowered the price target from $160 to $140.

What's Going On In The Broader Market?

The market is anticipating a critical consumer price index (CPI) inflation reading coming on Thursday morning.

Economists are expecting the U.S. Labor Department to report 6.5% CPI inflation in December, down from 7.1% in November and a peak of 9.1% in June. Economists are also projecting that core CPI inflation, which excludes volatile energy and food prices, gained 5.7% in December versus 6% in the previous month...Read More

According to data from Benzinga Pro, AMZN has a 52-week high of $170.83 and a 52-week low of $81.43.