Amazon (NASDAQ: AMZN) stock jumps more than 4% as record-breaking Prime Day online spending topped $26.4 billion, driving a massive rally in retail and tech shares.

Retail experts attribute the 9.3% year-over-year increase in spending to high inflation and shoppers purchasing more discretionary, long-lasting products.

Total spending for the period was up 9.3% from last year’s Prime Day sale held in July, according to Adobe.

Amazon (AMZN), the e-commerce and cloud computing giant, saw strong overall demand around its annual Prime Day event, but the latest data gives ...

E-commerce spend during this year’s earlier June dates reached $26.4 billion, according to Adobe data.

The gains were fueled by heavy promotions across categories including electronics, appliances, clothing, toys, personal care products, and household necessities, as consumers…

Amazon stock climbed Monday after a rough week for shares of the e-commerce and cloud-computing behemoth.

Amazon (NASDAQ: AMZN) stock jumps more than 4% as record-breaking Prime Day online spending topped $26.4 billion, driving a massive rally in retail and tech shares.

BofA keeps AMZN as a Buy with a $310 price target. Strong June retail data and the AWS price increase is expected to boost second-half growth.