{
  "id": 17862414,
  "title": "Stock Market Today, Nov. 2: Amazon Rallies on Phillip Securities Buy Upgrade and $330 Target",
  "url": "https://urgent.news/2026/11/02/stock-market-today-nov-2-amazon-rallies-on-phillip-securities-buy",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T21:45:58.000Z",
  "source": {
    "name": "Motley Fool",
    "slug": "motley-fool",
    "url": "https://www.fool.com/coverage/stock-market-today/2026/11/02/stock-market-today-nov-2-amazon-rallies-on-phillip-securities-buy-upgrade-and-330-target/?source=iedfolrf0000001"
  },
  "original_language": "en",
  "account": "Amazon (AMZN) shares surged on November 2, 2022, following Phillip Securities' upgrade to a \"buy\" rating and a price target of $330 per share. The stock closed at $245.63, marking a 2.20% increase. Investors are closely monitoring demand for Amazon Web Services (AWS) and AI spending. Trading volume reached 57.7 million shares, which is approximately 51% higher than its three-month average of 38.3 million shares.\n\nAmazon, an e-commerce, cloud infrastructure, and digital advertising company, was founded in 1997 and has experienced a remarkable 250,755% growth since going public. In comparison, the S&P 500 (^GSPC) closed at 7,542, down 0.50%, and the Nasdaq Composite (^IXIC) finished at 25,164, down 1.07%.\n\nWhile internet retail, digital advertising, and logistics services peers showed mixed retail performance, Walmart (WMT) closed at $127.69, up 3.38%, and Costco Wholesale (COST) closed at $1,040.55, up 2.79%. Amazon regained positive momentum after a dip following its earnings report the previous week. Analyst Helena Wang of Phillip Securities praised the strength of AWS, which saw a 39% year-over-year increase to $46 billion, its fastest growth rate in nearly five years. Operating income surged 61% amid a growing backlog. Wang raised her rating on the stock after boosting fiscal 2027 revenue estimates and increased the price target by $10 to $330 per share.",
  "summary": "Today, Nov. 2, 2026, the analyst upgrade cited clearer cloud-demand visibility and AI positioning as AWS revenue growth accelerates.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Nasdaq Markets",
        "title": "Stock Market Today, Nov. 2: Amazon Rallies on Phillip Securities Buy Upgrade and $330 Target",
        "url": "https://urgent.news/2026/11/02/stock-market-today-nov-2-amazon-rallies-on-phillip-securities-buy-17863495",
        "published": "2026-11-02T22:05:58.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}