Amazon is the leading online retailer and marketplace for third party sellers. Retail related revenue represents approximately 74% of total, followed by Amazon Web Services (17%), and advertising services (9%). International segments constitute 22% of Amazon's total revenue, led by Germany, the United Kingdom, and Japan.

Amazon is the leading online retailer and marketplace for third party sellers. Retail related revenue represents approximately 74% of total, followed by Amazon Web Services (17%), and advertising services (9%). International segments constitute 22% of Amazon's total revenue, led by Germany, the United Kingdom, and Japan.

We've seen some typical FOMC price action! Since the market was thumped after the Fed decision on Wednesday, the gears (historically) were likely to reverse on Thursday. Still, it REALLY didn't feel like that was going to happen this time after stocks fully tanked following a very confusing press conference by Fed Chairman Warsh. The media pressed and pressed about the 'no hike despite continued elevated inflation' but got little if anything back. We are told that that is the new norm, so get used to it. Economists and Fed junkies will now have to get down and dirty, as they should have been doing all along, and do their own work rather than just parroting what the Fed spoon feeds them. Imagine if corporations (and there has been talk of this) were no longer required to report results every quarter. The analyst community would have to go back to 'kicking the tires' as was common decades ago. Where's Benjamin Graham and Warren Buffett when you need them? The S&P 500 (SPX) surged 1.7% on Thursday and the QQQ ripped higher by 3.3%, reversing Wednesdays' carnage. After breaking down from its triangle, the SPX rallied back in what looks like a false breakdown. The QQQ stalled out at its recent breakdown level of 685. The ETF has plenty of chart and moving-average resistance overhead, so a 'V' bottom is unlikely. The damage to many tech charts is extensive -- and generally that takes time to repair. Yet despite the carnage in many semi names and the inconsistent performance of the Mag 7 stocks, the S&P 500 remains in the middle of a three-month trading range, with little if any technical damage.

Amazon.com is the leading U.S. e-commerce retailer and among the top e-commerce sites globally. It includes Amazon Web Services (AWS), the global leader in cloud-based Infrastructure-as-a-Service (IaaS) platforms. The company's Prime membership platform is a key online retail differentiator, providing customers with free shipping (after an annual fee) along with exclusive media content (music, video, audible books, etc.). The company's Kindle reader and Alexa-based Echo and Dot digital voice assistants are category leaders.