NEW YORK, June 7, 2026, 13:06 (EDT)
- Amazon ended Friday off 3.1% at $246.03, with volume jumping to 55.6 million shares.
- The Nasdaq dropped 4.18% Friday and ended the week down 4.7%, putting pressure on major tech names ahead of Monday’s session.
- Amazon landed a $4 billion AWS contract with Pinterest, pushed Prime Day back to late June, and investors are still questioning Amazon on AI costs and rules for the cloud in Europe.
Amazon.com shares are under pressure to start the week after tumbling on Friday. Investors are watching some new AWS contract wins, but the broader tech selloff and interest rate concerns are hanging over the stock.
The stock closed Friday at $246.03, off $7.81, or 3.1%. U.S. exchanges were closed Sunday, so this is in play for Monday’s open, not current trading.
Amazon got a boost last week on company news. Pinterest said Thursday it will spend $4 billion with Amazon Web Services on cloud through 2031, its biggest deal yet. Amazon shares picked up 1.5% that day. AWS plans to give Pinterest custom chips, like Graviton and Trainium, for the social site’s AI projects.
Pinterest CTO Matt Madrigal said in a statement that the expanded AWS deal gives Pinterest “compute flexibility” and “infrastructure efficiency” as it ramps up its AI work. Amazon is counting on customer deals like this as it faces investor questions about whether its AI spending will pay off in lasting revenue. Reuters
Wall Street snapped its nine-week run on Friday. A strong U.S. jobs number spooked traders, who worry the Fed could hold off on rate cuts. The S&P 500 slid 2.64%. The Nasdaq Composite shed 4.18%. The Dow Jones Industrial Average was down 1.35%.
The dam just broke after a record run, said Ryan Detrick, chief market strategist at Carson Group. Ohsung Kwon, chief equity strategist at Wells Fargo, said it looked more like traders shifting positions rather than a collapse in fundamentals. Kwon added semiconductors had gotten “way overbought.” Reuters
Amazon’s numbers are mixed after the first quarter. The company posted net sales of $181.5 billion, up 17%. AWS sales climbed 28% to $37.6 billion. But free cash flow dropped hard, down to $1.2 billion from $25.9 billion a year ago, as property and equipment spending connected to AI went up.
Andy Jassy, CEO, said in the release that AWS growth came in at its quickest pace in 15 quarters, adding Amazon was “well positioned to lead.” Still, the market wants to know what the price tag will be for that lead. Amazon
Retail names drew attention again. Amazon plans to hold Prime Day from June 23 to June 26 this year, shifting it back to June after five years in July. Jamil Ghani, Amazon Prime international VP, told Reuters the date was set to account for the FIFA World Cup and the upcoming 250th U.S. anniversary.
Prime Day is turning into more than a shopping event. It’s also a test for delivery speeds, grocery orders and the value of Prime, as Walmart keeps pushing Walmart+ same-day service. Vivek Pandya, lead analyst at Adobe Digital Insights, said Adobe is looking for “strong year-over-year growth” in June’s online spend tied to Prime Day. Reuters
EU cloud rules threaten Amazon, Microsoft, Google in public-sector tenders. The European Union is working on regulations that would limit the ability of Amazon, Microsoft and Google to bid for sensitive government cloud projects in industries like banking, healthcare and energy. The draft still needs the support of EU governments and lawmakers. Amazon would not comment, Reuters reported.
The week looks straightforward but tense. On Monday, the market will see if investors view Amazon as a strong cash machine from its cloud and retail units, especially with fresh AWS demand coming in. Or investors could lump it in with other big tech names facing rate pressure, high spending on AI, and more rules on the cloud. Nasdaq’s open may shape that answer as much as anything Amazon reports.
