Thursday was a solid day for the stock market, with the S&P 500 index reaching all-time highs and other indexes coming in closely behind.
If anything can send the market to new records on Friday, it’ll be earnings reports from a couple of stocks with exposure to technology.
The day was a volatile one, with markets initially climbing on positive economic news.
Revenue soared 44% to $108.5 billion, with service sales leading the way higher with a 52% year-over-year gain.
The thriving e-commerce business makes complete sense given the ongoing COVID-19 pandemic, but the success of Amazon Web Services was also noteworthy.
Founder and CEO Jeff Bezos celebrated the 10th anniversary of Prime Video and the 15th anniversary of Amazon Web Services, and he foresees plenty of upside for them in the future.
Third-quarter revenue jumped 38% from the year-ago period, with subscription-based sales soaring at an even faster 43% rate.
The company pointed to data analytics provider Splunk as just one example of many companies moving to the cloud in order to get more value from Atlassian offerings like Jira and Confluence.
Atlassian has flown under the radar of many investors, but it’s rapidly becoming a massive player in the global cloud services industry.