What's Going On With Amazon Shares

Amazon.com, Inc. AMZN shares are trading higher by 2.21% to $92.55 going into the close of Tuesday's session amid overall market strength following lighter-than-expected November CPI figures.

Fed monetary policy tightening could begin to taper off as inflation cools down, which would positively benefit growth stocks. Also, a decline in Treasury yields is positively impacting the sector.

What's Going On With CPI Data?

The headline CPI rose 7.1% in November, down from 7.7% in October, according to data from the U.S. Bureau of Labor Statistics.

The November CPI reading came in below average economist estimates of 7.3%.

Tuesday's highly anticipated CPI inflation reading comes just a day ahead of the Federal Reserve's final meeting of the year...Read More

See Also: Inflation Slows Significantly In November, Sending Stocks Higher: What You Need To Know

According to data from Benzinga Pro, AMZN has a 52-week high of $174.17 and a 52-week low of $85.87.