Amazon was almost named “Cadabra”, but Jeff Bezos changed it after a lawyer misheard it as “Cadaver.”
Bezos initially wanted a name that conveyed magic and wonder, inspired by the word "Abracadabra." However, realizing the potential for confusion and negative associations, he decided to rename the company.
He settled on “Amazon” because it evoked a sense of vastness and scale—just like the world's largest river. It also had the advantage of appearing early in alphabetical listings, a strategic choice in the early days of internet directories.
Market Wrap
On Friday, March 7, 2025, U.S. stock markets experienced a volatile session, influenced by mixed economic data and ongoing policy uncertainties.
Mixed Employment Data:
The U.S. economy added 151,000 jobs in February, falling short of expectations, while the unemployment rate edged up to 4.1%. This data suggests a modest softening in labor market conditions, raising concerns about economic momentum.
Federal Reserve's Stance:
Federal Reserve Chair Jerome Powell indicated that the economy remains in good shape, and the central bank is in no hurry to adjust interest rates. This reassured investors, contributing to a late-session rebound in stock prices.
Market Indices Performance:
Despite intraday volatility, major indices closed higher. The Dow Jones Industrial Average rose 0.5%, the S&P 500 gained 0.6%, and the Nasdaq Composite added 0.7%. However, for the week, the S&P 500 recorded its largest decline since September, reflecting broader market jitters.
Global Market Reactions:
European and Asian markets mirrored U.S. volatility, with investors worldwide grappling with the implications of U.S. economic data and trade policies. Notably, Germany's surprise spending plans led to a selloff in benchmark German Bunds, adding to global market unease.
Commodity and Currency Movements:
Oil prices edged higher, with U.S. crude rising 1.5%, reflecting supply concerns amid geopolitical tensions. The U.S. dollar weakened, hitting a three-month low, as trade war fears sparked discussions of a potential economic downturn.
Upcoming Economic Indicators:
Investors are keenly awaiting the upcoming U.S. Consumer Price Index (CPI) report, which could influence Federal Reserve policy decisions. A higher-than-expected CPI could reignite inflation concerns, impacting future monetary policy and market dynamics.
Broadcom Inc. shares surged 8.6% after the company reported robust fiscal first-quarter earnings, highlighting a significant revenue increase in its AI sector, which boosted investor confidence.
DoorDash Inc. shares rose 7.5% in extended trading after the announcement of its inclusion in the S&P 500 index, reflecting increased investor optimism.
Hewlett Packard Enterprise Co. shares plummeted 12% due to disappointing earnings and the announcement of upcoming layoffs, raising concerns about the company's future profitability.
Walgreens Boots Alliance Inc. shares climbed 7.5% following the announcement of a $23.7 billion buyout by Sycamore Partners, signaling a strategic shift for the pharmacy chain.
