Amazon's AI disclosure becomes the market's new lead story

The big shift on Thursday was that traders finally had something other than the Middle East to buy. Amazon shares jumped more than 5% after CEO Andy Jassy said AWS AI revenue had reached a $15 billion annual run rate and Amazon's chips business was running above $20 billion annually, giving investors a cleaner read on whether hyperscaler AI spending is turning into real revenue. CNBC said the stock surged after Jassy defended roughly $200 billion in 2026 capex, while Reuters reported the new revenue figures in the shareholder letter. CNBC Reuters

That mattered because the market was looking for proof, not promises. Amazon's update gave bulls a reason to rotate back into AI infrastructure winners even as software remained shakier. Bloomberg's markets wrap flagged Amazon, CoreWeave and Intel among the session's notable movers and said the S&P 500 logged its longest winning streak since October. Bloomberg

S&P 500 closes at 6,824.66 as stocks extend gains for a seventh day

The major indexes all finished higher in the April 9 session, though the move was far calmer than Wednesday's ceasefire surge. The S&P 500 rose 41.85 points, or 0.6%, to 6,824.66. The Dow Jones Industrial Average added 275.88 points, or 0.6%, to 48,185.80. The Nasdaq Composite gained 187.42 points, or 0.8%, to 22,822.42. The Russell 2000 climbed 0.6% to 2,636.31. Associated Press market data showed the Dow has now turned positive for the year, while the S&P 500 remains slightly negative on a year-to-date basis. AP

The tone was notable. Stocks opened under pressure as oil pushed back toward triple digits and traders questioned whether the U.S.-Iran ceasefire would hold. By the close, that anxiety had eased again after news that Israel would hold direct talks with Lebanon, helping investors treat the latest spike in crude as a risk event rather than a fresh regime change for inflation and growth. Bloomberg said U.S. crude settled near $98, while Yahoo Finance's market recap described the move as a rebound driven by renewed hopes that de-escalation would stick. Bloomberg Yahoo Finance

Stock movers: Amazon leads, AI names stay bid, software still lags

Amazon was the cleanest single-stock winner in large-cap land. The shares closed around $233.65, up roughly 5.6%, after Jassy's letter gave Wall Street hard numbers on AI monetization. That matters for the whole complex because investors have spent months rewarding chipmakers and data-center suppliers while questioning whether cloud providers would ever show matching revenue acceleration. Thursday's move suggested that debate is shifting. CNBC Reuters

Meta also stayed in focus after Bloomberg reported that CoreWeave struck a fresh $21 billion computing deal with the social media company through 2032, another sign that hyperscalers are still racing to lock up AI capacity. That helps explain why infrastructure-linked names kept attracting money even as parts of software remained under pressure. Bloomberg also noted software slumps had not stopped the broader rally, which is a useful tell for traders watching whether leadership is narrowing again around AI capex beneficiaries. Bloomberg

Bonds and the Fed: yields steady, but CPI is the real test

Treasuries were relatively calm compared with equities and oil. CNBC said yields were holding steady as traders braced for the March CPI report, and Bloomberg pointed to labor-market resilience after continuing jobless claims fell to the lowest level in nearly two years. That combination matters for the Fed. A stable labor market gives policymakers room to wait, especially if energy-driven inflation is about to show up in the headline data. CNBC Bloomberg

Bloomberg said economists project a 0.9% monthly increase in CPI, which would be the sharpest one-month rise since 2022. That is the number traders need to frame today. If headline inflation comes in that hot, the bond market may have to price a longer Fed hold even if the geopolitical premium in crude keeps fading. If it undershoots, equities could read that as confirmation that the market can survive a temporary oil shock without a full reset in rate expectations. Bloomberg

Oil near $98, gold steady, and commodities still set the macro tone

Crude remained the key macro swing factor. Bloomberg said U.S. crude settled near $98 after earlier volatility, and CNBC reported that the oil rally was losing steam as Israel agreed to negotiate with Lebanon. That still leaves energy at levels high enough to keep inflation nerves alive, but well below the panic highs traders feared when the Strait of Hormuz disruption first hit. Bloomberg CNBC

Gold was steadier, with Reuters coverage on CNBC's markets page describing caution ahead of the latest Iran deadline. That's consistent with a market that is no longer in full scramble mode but still wants hedges on. For traders, the message is simple: commodities are no longer screaming systemic stress, but they're still high enough to shape inflation prints, sector leadership and Fed pricing. Reuters via CNBC

Crypto is quieter, but still useful as a risk barometer

Crypto did not drive the session, but it stayed firm enough to confirm the broader improvement in risk appetite. CNBC's markets page showed bitcoin around $71,000 in the run-up to Friday, while other market coverage put bitcoin near $71,800 late Thursday. Ethereum was not the headline mover, but the absence of a sharp crypto selloff is notable given the week's geopolitical volatility and inflation risk. CNBC Motley Fool market recap

In other words, crypto is acting more like a confirming asset than a warning signal right now. If bitcoin starts breaking lower alongside a hotter CPI print and rising yields, that would be a cleaner sign that Thursday's equity strength was just a positioning squeeze. If it stays resilient, dip-buyers in tech will feel better about pressing risk. CNBC

What to Watch Today

March CPI: Bloomberg said economists expect a 0.9% monthly increase. That is the session's main macro catalyst and the clearest test for Fed-rate expectations. Bloomberg
Treasury reaction: Watch whether yields stay contained after the inflation print or break higher, which would pressure duration-heavy tech. CNBC
Oil and Hormuz headlines: Crude near $98 is manageable. A move back above $100 would quickly tighten the market's inflation narrative. Bloomberg
AI leadership breadth: Traders should watch whether Thursday's Amazon-led move broadens to semis and cloud, or stays concentrated in a handful of capex winners. CNBC
Ceasefire durability: The market is still trading every signal on U.S.-Iran talks, Lebanon negotiations and the path to a fuller reopening of shipping routes. Bloomberg