Pursuits
Amazon Surges on Confidence Over Cloud, Spending Discipline
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Amazon.com Inc.’s shares reached another record, three days before the company’s earnings report, as investors expected upbeat results from the fast-growing cloud-computing business, a boost in sales from last week’s Prime Day promotion and signs that the company is controlling spending.
Amazon rose 1.1 percent to close at $488.10 in New York on Monday. The stock set records three days last week and is up 12 percent this month, while the Standard & Poor’s 500 Retailing Index has gained 5.5 percent.