AMZN stock rises to trade at $117.67 as of 10:48 AM EDT.
The founder of Amazon (NASDAQ:AMZN), Jeff Bezos, has become the latest to issue a warning about impending doom and gloom, telling Americans to prepare for a recession. In reaction to a CNBC interview with the CEO of Goldman Sachs, he commented on Twitter, “Yep, the probabilities in this economy urge you to batten down the hatches.” David Solomon gave businesses advice in the video to consider more carefully and to take unpredictability into account when making economic projections.
Summary Jamie Dimon, CEO of JPMorgan, predicted that the storm might hit the United States in the next six to nine months due to “extremely substantial” headwinds like inflation, rising interest rates, quantitative tightening, and the conflict in Ukraine. The IMF said last week that the U.S. economy will continue to slow and warned that “the worst is yet to come.” Even President Biden said that there is a chance for a recession, although he only anticipates it to be “very minor” if it does happen.
As someone who obviously has his finger on the pulse of many sectors of the economy, Bezos’ message is sure to be internalized by many company CEOs. He is able to assess retail transactions, and roughly a third of the world’s cloud companies are supported by Amazon Web Services, which generates the majority of the company’s earnings. Goldman Sachs recently searched for stock bargains for a recession while markets were in a bear market.
Retail sector outlook will influence AMZN stock
After two consecutive quarters of negative real GDP growth (-1.6% in Q1 and -0.6% in Q2), the United States is already technically in a recession. The NBER’s Business Cycle Dating Committee, which has been in charge of determining the dates of the U.S. economy’s peaks and troughs since 1978, is in charge of making any decisions on the declaration of a genuine recession. The strange thing is that the committee frequently waits until after a recession has started, and occasionally even after it has completely ended, to formally declare it.
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Author Jowi Kwasu 
