What's Going On With Amazon Shares Falling Today?

What's Going On With Amazon Shares Falling Today?

Amazon.com, Inc. AMZN shares are trading lower by 2.16% to $106.57 Thursday afternoon. Shares of e-commerce, retail and consumer discretionary companies are trading lower during Thursday’s trading session after data showed a slowdown in U.S. consumer spending in May. The sector may also be lower in sympathy with RH, which updated its 2022 guidance to reflect weakening demand.

The U.S. Bureau of Economic Analysis reported real disposable personal income decreased 0.1 percent in May and real personal consumption expenditures decreased 0.4 percent; expenditure on goods decreased 1.6 percent.

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Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators.

According to data from Benzinga Pro, Amazon has a 52-week high of $188.65 and a 52-week low of $101.26.

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