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The US stock market is up this year—thanks to Amazon

By John Detrixhe

From our Obsession

Future of Finance

New technology is upending everything in finance.

The US stock market has traded mostly sideways this year—the S&P 500 Index of stocks is up a meager 0.44% on a total-return basis.

But it could be worse. Amazon’s 34.5% rally boosted the broader index of stocks by 0.65%, putting it in positive territory, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. Without the e-commerce giant’s buoyant gains, the S&P gauge would be down 0.21% this year.

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