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FT News Briefing
An historic prisoner swap
Aug 2, 2024
Amazon's disappointing earnings report stirs market concerns, emphasizing the ongoing tech turbulence. A historic prisoner swap between Russia and the West raises eyebrows about future diplomatic relations. Insight into major central banks reveals a shift focusing on economic growth over inflation control, highlighting the UK and U.S. approaches. Meanwhile, Japan's unique low-interest policies, coupled with the yen's fluctuations, continue to impact its exporters and spark discussions about market reactions.
10:33
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Quick takeaways
- Amazon's earnings report, despite cloud computing growth, disappointed investors due to narrow profit margins leading to a significant share price drop.
- A historic prisoner swap between Russia and Western countries illustrates complex diplomatic negotiations but does not signify improvement in U.S.-Russia relations.
Deep dives
Amazon's Earnings and Market Reaction
Amazon's latest earnings report fell short of investor expectations despite growth in its AI-driven cloud computing division. While the company outperformed forecasts in revenue, declining profit margins due to increased capital spending resulted in a significant drop in its share price, falling over 5% in after-hours trading. This downturn contributed to a broader decline in the tech-heavy NASDAQ, which experienced a fall of more than 2% as chip manufacturers like Arm and Qualcomm issued disappointing outlooks. The overall market volatility reflects growing concerns among investors regarding the sustainability of the recent surge in tech stock valuations.
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