Amazon.com Inc.'s stock rose 0.6% in afternoon trade Wednesday, putting it on track for a record close, as investors jockey for position a day before the release of the e-commerce giant's first-quarter report. The stock was trading at $912.96, above the April 5 record close of $909.28, but still below that day's all-time intraday high of $923.72. This would be the stock's ninth record close this year. Amazon is expected to report results after Thursday's close. The stock has lost ground the day after the last two quarterly reports, by an average of 4.3%. The stock has run up 22% year to date, while the Nasdaq Composite has surged 12% and the S&P 500 has gained 7%.
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