Amazon falls post-earnings, all eyes on US jobs [Video]

Monday’s trade tensions have been gradually waning, last week’s DeepSeek shocker is also digested among global tech investors. Earnings continue to flow in, on the other hand, and reinforce the narrative – or the fear – of rising AI spending and slowing growth. In this context, Amazon – that reported its latest quarter results yesterday after the bell – was the latest to post better-than-expected earnings and revenue but a slower growth of its cloud division.

Zooming out, the S&P500 and Nasdaq 100 are surviving the less-than-wow Big Tech earnings. Both indices hang on near their ATH levels. The easing US yields certainly give a hand to valuations despite uncertainties regarding what the Federal Reserve (Fed) should do next. This week’s US jobs data has so far given mixed signals with lower job openings in December, lower job cuts during the course of last year but a jump in terminations in January, weaker labour productivity, a weaker-than-expected jump in labour costs, and a stronger-than-expected ADP employment figures. Today, the official US jobs data is expected to print 169’000 new nonfarm jobs added last month, with a slightly slower wages growth and a stable unemployment rate near the 4.1%. Investors will also focus on the annual revisions to the jobs figures.

Elsewhere, the Bank of England (BoE) announced a 25bp cut yesterday, and two members wanted to cut by 50bp, while in energy, US crude extended losses toward the $70pb.