Amazon Stock Edges Higher Amid Broader Market Weakness

Amazon's (NASDAQ:AMZN) stock edged higher on Tuesday as consumer stocks bucked the broader market trend. Despite the Nasdaq falling 1.48% and the S&P 500 losing 0.53%, Amazon's relative strength came from investors rotating into select consumer stocks.

The Consumer Discretionary sector gained about 0.6%, making it a rare bright spot in an otherwise down day for markets. Eight of the 11 S&P 500 sectors traded higher, but the Dow fell 0.19% and the Russell 2000 dropped 1.01%.

Amazon remains near the upper half of its 52-week range, with buyers continuing to support the stock during broader market weakness. As a result, the stock has continued to attract investment despite the challenging market conditions.