Tech Surge: Amazon's Cloud Deal Boosts Stocks Amid Economic Uncertainty

Major stock indexes rose on Monday, buoyed by Amazon's announcement of its multi-year, $38 billion cloud-computing service agreement with OpenAI, adding momentum to equities with a notable 4% rise in Amazon shares.

Despite the Federal Reserve's anticipated rate cut last week, uncertainty persists as Chair Jerome Powell indicated December's decision is not guaranteed. This ambiguity contributed to a complex market environment, with some investors speculating further easing under Fed Governor Christopher Waller's push, while economic data remains sparse due to the U.S. government shutdown.

In the broader economic landscape, the euro fell against a strengthening dollar amidst continued trade discussions and potential tariff implications in the U.S. Supreme Court. Investors eyed forthcoming tech company earnings, including Palantir and AMD, anticipating insights into AI investment returns.