Why Amazon, Chewy, and Roku Stocks All Traded Lower Thursday Morning
Broader-market indexes were mixed on Thursday, as the Federal Reserve's ongoing mission to rein in rampant inflation appeared to be making progress. The latest U.S. government data revealed that prices moderated last month, which could influence how the Fed proceeds with its long-running campaign of interest rate hikes, which are intended to bring inflation under control.
With that as a backdrop, shares of Amazon (NASDAQ: AMZN) edged 0.7% lower, Chewy (NYSE: CHWY) slipped 2.1%, and Roku (NASDAQ: ROKU) fell 3.7%, as of 11:30 a.m. ET.
A check of all the usual sources -- press releases, earnings reports, and regulatory filings -- found very little in the way of company-specific news driving the rally (more on that in a minute). This suggests investors were primarily focused on the improving economic situation.
Source Fool.com
