Amazon's Stock Jumps To a Record Ahead Of Prime Day, Again

By Markets MarketWatch Pulse

Amazon.com Inc.'s stock ran up 1.3% to a record high ahead of the online retail giant's Prime Day sales event, again. The stock has surged 27% over the past three months, while the First Trust Dow Jones Internet Index ETF gained 11%, the SPDR S&P Retail ETF has edged up 0.9% and the S&P 500 has tacked on 4.9%. A year ago, Amazon's stock shot up 2.2% to close at a record high on July 14, the day before Amazon launched its inaugural sales event, before slipping 0.9% the day of the event. Some analysts believe sales at this year's event could be double what they were last year.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.