What's Going On With Amazon Stock Today

Amazon.com, Inc. AMZN shares are trading higher by 2.98% to $116.37 during Monday's trading session. Shares of several companies in the broader consumer discretionary sector are trading higher amid a rebound in equities following September weakness. Ongoing Fed policy tightening and inflation concerns have weighed on the sector and consumer spending outlook.

A drop in treasury yields has also helped lift the broader market in today's session. The 10-year Treasury yield hit an intraday low of 3.569% Monday morning before rising to around the 3.637% level. The intraday drop in U.S. Treasury yields benefits companies such that, when interest rates otherwise rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock.

Equities fell in September due to concerns over inflation, contractionary Federal Reserve policy and a potential recession. An economic slowdown could negatively impact discretionary spending.

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