Stock Market Update

[BRIEFING.COM] The major averages remain firmly lower with just half an hour left in today's session. 

Investors have another sizable batch of earnings reports on tap after the close, including that of Amazon (AMZN 222.72, -10.27, -4.41%).

The stock heads into Q4 earnings with expectations elevated following an exceptional Q3, making guidance the primary swing factor for the stock. Investors will watch closely to see whether AWS can sustain its recent reacceleration and whether operating income lands toward the upper end of guidance. With Microsoft's (MSFT 393.52, -20.66, -4.99%) Azure results providing a mixed signal, sentiment hinges on whether AWS demand remains robust enough to justify premium cloud valuations. Given AMZN's streak of 11 consecutive double-digit EPS beats, execution is not the concern; rather, the stock's reaction will likely depend on Q1 commentary and management's confidence in cloud, AI investment returns, and margin durability as 2026 begins.