Shares of Amazon (AMZN) dipped in extended trading on worries about g🌄rowth in its cloud computing business, and the Commerce Department is set to release an update on the Fed's preferred gauge of consumer inflation. Here’s what investors need to know today.

1. After Sur🎃ging, Amazon Shares Dip on Cloud Growth Worries

Shares of Amazon slipped 2% in pre-market trading after posting 澳洲幸运5开奖号码历史查询:higher-ওthan-expected sales and earnings, but warning of a slowdown in its cloud computing business during the current quarter. Amazon revenues came in at $127.4 billion compared to🔯 analyst estimates of $124.5 billi𝕴on, up 9% from a year ago. It posted $3.2 billion in profit, almost 50% higher than analysts expected.

澳洲幸运5开奖号码历史查询:Amazon Web Services (AWS), the company’s cloud computing business, posted growth of 15.8%, slightly higher than e🐻xpected. AWS operating income came out to $5.12 billion, a bit below analyst estimates. Its operating margin came in at 24%, the narrowest its been since 2017. However, on a conference call with analysts, an executive said cloud spending was decelerating, with April revenue growth down about 5 p𒀰ercentage points compared with the first quarter.

2. An Update Due on the Fed's Preferred Inflation Gauge

The Commerce Department is scheduled to release data on consumer inflation with the , which likely rose 0.3% last month, matching February’s pace. Prices are projected to have climbed 4.5% year-over-year, which would mark the slowest annual gain since the summer of 2021. 澳洲幸运5开奖号码历史查询:Core prices, which exclude volatile food and energy costs, also liꦬkely rose 0.3% from February and 4.5% over a 12-month period. The PCE Price Index is considered to 🎀be the Fed’s preferred measure of inflation. 

3. Eurozone Economy G🅰rows More Slowly Than♉ Expected

The eurozone economy grew just 0.1% in the first quarter, missing expectations as the German economy slowed. The economy expanded by 1.3% on an annuali🤪zed basis, just under expectations of 1.4%.

4. Snap Shares Sink After Missing Estimates

Snap (SNAP) shares sank 18% in pre-market trading after the social media company missed estimates for first quarter revenue. Snap revenue ⭕came in at $989 million compared to expectations of $1 billion. Global daily active users (DAUs) were 383 million, below estimates of 384 million. Average revenue per user was also lower than anticipated at $2.58 per uꦡser compared to estimates of $2.63 per user.

5. First Republic Shares Surge on Rescue Repor𝐆ts

First Republic Bank (FRC) shares jumped 11% in pre-market trading following reports U.S. regulators are discussing rescue options with other banks. First Republic's stock price lost more than half of its value this week.