Stock Market Today, June 24: Amazon Gains as Investors Monitor Strong Prime Day Demand and AI Shopping Activity
Amazon.com (NASDAQ:AMZN), global e-commerce, cloud infrastructure, and digital advertising platform giant, closed at $234.27. The stock edged higher on Prime Day demand, AI shopping activity, and analyst support for a Q2 revenue beat.
Trading volume reached 67.7 million shares, coming in about 47% above its three-month average of 45.9 million shares. Amazon.com IPO'd in 1997 and has grown 239,256% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) fell 0.10% to 7,358, while Nasdaq Composite (NASDAQINDEX:^IXIC) declined 0.43% to 25,477. Among global e-commerce, retail, cloud computing, advertising, and logistics peers, Walmart (NASDAQ:WMT) fell 0.34% to $119, while MercadoLibre (NASDAQ:MELI) rose 4.79% to $1,659.57, highlighting mixed trading across consumer and platform names.
What this means for investors
Amazon’s Prime Day event has begun, with four days of special deals and enticements to expand the company’s Prime membership base. Prime Day got off to a strong start, according to spending data from Adobe (NASDAQ:ADBE).
Initial figures show online spending jumped 5.3% on the event’s first day yesterday, year over year, to $8.3 billion. AI-driven spending is one of the reasons boosting activity. Online spending for electronics and appliances hit records while baby products and everyday essentials also showed strength. The event runs until Friday, and analysts will use the data to adjust estimates for Amazon’s second-quarter sales.
That might have some investors wanting to get ahead of any revenue and earnings adjustments. Amazon is also seeing tailwinds from its cloud infrastructure business with a planned $10 billion investment for a large new data center.
Should you buy stock in Amazon right now?
Before you buy stock in Amazon, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Amazon wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $392,713!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,227,782!*
Now, it’s worth noting Stock Advisor’s total average return is 897% — a market-crushing outperformance compared to 208% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of June 24, 2026.
Howard Smith has positions in Amazon. The Motley Fool has positions in and recommends Adobe, Amazon, Corning, MercadoLibre, and Walmart. The Motley Fool recommends the following options: long January 2028 $330 calls on Adobe and short January 2028 $340 calls on Adobe. The Motley Fool has a disclosure policy.
Recommended Articles
