TMTB EOD Wrap

Early one today as have to run some errands post-close…QQQs +30bps as semis +1% and IWM +1.2 outperformed. BTC +3%/ FXI +1% as yields finished down sligthly. Let’s get to it

Internet

• GOOGL - 1% as M-sci said search growth decelerated tracking 2-3ppts bellow street

• AMZN +60bps as TGT +12% followed WMT with a beat and raise. Yip data also showed retail getting better in the last week. TheInformation also had an interesting snippet on AWS:

Meta is also a longstanding customer of AWS. It has been using Amazon for small cloud tasks for about a decade. In recent months, executives from Amazon and Meta have been negotiating a potential deal that would boost Meta’s spending on AWS, likely to more than $1 billion per year, making Meta one of the service’s largest customers, according to a person involved in the discussions. Meta currently spends between $250 million and $500 million on AWS and Azure cloud services, according to The Information’s Cloud Database.

• RBLX +7% on 2x daily avg volume - l…