Why Amazon Stock Was Higher Today

Shares of Amazon (NASDAQ: AMZN) were trading up 3.1% as of 11:58 a.m. ET on Tuesday. It was pacing ahead of the S&P 500 index gain of 2.1% on a positive day for stocks.

The move followed news out of China that its central bank was moving to loosen monetary policy, as well as positive news from GlaxoSmithKline about the effectiveness of its antibody treatment against COVID-19 variants, including omicron and delta. The news got investors refocused on Amazon's near-term growth drivers that have one analyst upbeat about 2022.

Image source: Amazon.

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Source Fool.com