By Dhirendra Tripathi
Investing.com -- Tech stocks lifted the broader market, and investors snapped up big tech names including Amazon, despite an outage at Amazon Web Services that left many websites in the lurch for hours.
The tech-heavy NASDAQ Composite surged 3% at one point, and was still up 2.7% with 20 minutes until the close.
The rebound in tech comes a week after the Federal Reserve signaled a faster monetary tightening and possibly an earlier than expected rate hike next year, sending tech investors into selling mode.
The other factor on peoples’ minds this week – the risk of a new surge in Covid-19 cases – was further eased after public health officials said it appeared the new Omicron strain was not as deadly as previous variants.
Here are three things that could affect markets tomorrow:
1. Soup earnings
Campbell Soup Company (NYSE: CPB ) first-quarter profit per share is seen at 81 cents on revenue of $2.27 billion, according to analysts tracked by Investing.com. Investors will be listening to the company’s comments about supply chains and profit margins.
2. JOLTs numbers
The number of job openings are likely to have fallen again in October. The Labor Department’s Job Openings and Labor Turnover Survey will be released Wednesday and it is seen reporting job openings of 10.369 in the month, down from 10.438 in September. There were 10.629 million jobs open in August.
3. Amazon drama
Amazon.com Inc (NASDAQ: AMZN )’s Web Services, Prime Video and its namesake e-commerce website were down for thousands of users on Tuesday, according to outage tracking website Downdetector.com, Reuters reported. And it’s likely people will still be talking about it on Wednesday.
Contrarily, Amazon stock rose 3% on Tuesday.
The outage, which lasted for several hours and was the third for AWS this year, affected multiple websites, including Coinbase (NASDAQ: COIN ), Chewy (NYSE: CHWY ), Roku (NASDAQ: ROKU ), Venmo, Walt Disney’s video streaming service, and FanDuel.
–Reuters contributed to this report
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