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The news reassured investors wearied by a a string of earnings warnings and disappointments in recent weeks.
After a string of earnings calls in which top Amazon amzn execs revealed plans to spend more than Wall Street expected on fulfillment or advertising, company spending has finally leveled off.
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The Fed decision came amid a string of weak earnings reports, including a bleak profit outlook at Yahoo, which announced layoff plans.
The results follow a string of bad earnings reports in the European banking sector.
Analysts and traders said it would take a string of good earnings reports to restore confidence in technology shares.
A string of lackluster earnings reports weighed on the stock market on Tuesday, ending an eight-day winning streak for the Standard & Poor's 500-stock index.
Wall Street was hit by a string of corporate earnings warnings this week, but investors are betting the market hit bottom in September and is poised to rise further.
Though Amazon has released a string of stellar earnings reports recently, its shipping costs are rising, and it faces capacity constraints.
Atchinson's departure after five years as chief executive comes at a difficult time for the company following a string of disappointing earnings and a torrent of negative publicity over its killer whale shows.
It was the latest in a string of disappointing earnings news from big technology companies that has some asking if the industry, after at least five years of growth, is finally slowing down.
SEATTLE — Amazon delivered a blowout quarter on Thursday, joining Facebook as one of the rare bright spots in a technology sector that has recently produced a string of disappointing earnings reports.
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