Amazon Defies Broader Market Slide Amid Consumer Stock Rotation

Amazon's stock price edged higher on Tuesday despite a broader market selloff.

The tech giant saw consumer stocks hold up, while technology stocks fell 2.56%, making it the sector's weakest group of the day.

The Consumer Discretionary sector gained about 0.6% as investors rotated into select consumer stocks.

Amazon's relative strength index stands at 52.91, a neutral reading suggesting the stock is neither overbought nor oversold.

The company also announced it increased its planned investment in northwest Louisiana to $18 billion from $12 billion, with the expansion including a third data center campus in Shreveport.