New York, Jan 22, 2026, 10:05 EST — Regular session
- Amazon shares ticked higher in early trading amid gains on Wall Street sparked by tariff relief news
- CEO Andy Jassy noted that import tariffs are beginning to impact some prices on Amazon’s platform
- Investors are focused on whether sellers will pass costs on and how consumers respond
Shares of Amazon.com Inc edged up 0.2% to $231.81 in Thursday’s morning session, following earlier swings tied to tariff news impacting the wider market this week.
The stock posted a modest gain as U.S. indexes kicked off higher, following President Donald Trump’s softened stance on tariffs against European nations—a key concern that had unsettled risk appetite. 1
Amazon faces a key question: how much of the tariff costs will be passed on to consumers. CEO Andy Jassy told CNBC this week that the company is beginning “to see some of the tariffs creep into some prices,” as earlier stockpiles that cushioned the impact “run out in the fall.” 2
This matters because Amazon’s retail operation depends on slim margins and quick inventory turnover. A large chunk of sellers on its platform are third-party merchants, who choose whether to swallow the increased import costs or pass them on to customers.
Tariff chatter has flipped the volatility dial in markets. “It’s a pretty standard response to geopolitical tensions: pull back on equity risk, move into gold, and hold cash,” said Alex Morris, CEO and CIO of F/m Investments, in a Reuters report this week. 3
Strategists noted that the Greenland dispute sparking fresh tariff threats is shaking trust in U.S. assets. “Global investors are taking these threats seriously,” Jack Ablin, chief investment strategist at Cresset Capital, told Reuters. 4
Jassy noted that while shoppers continue to seek out bargains, they’re “a little bit more hesitant” when it comes to pricier discretionary items — a red flag if rising costs start hitting a broader range of products.
Amazon’s various business lines are feeling the tug and pull. A dip in shopping can quickly hit seller services and advertising revenue, yet investors continue to see AWS as the profit powerhouse that can smooth over retail’s rough patches.
The downside is clear: if tariff relief doesn’t last and sellers raise prices again, demand may weaken, hitting Amazon’s volume-driven model right away.
Traders will be watching closely for Washington’s next tariff signals, while also gearing up for Amazon’s upcoming earnings report, set for Feb. 5 according to market calendars. 5
