Amazon Holds at $266.32 Near Buy Point as Market Rally Extends

Stock-market momentum stayed positive on May 23 with the S&P 500 rising 0.4% on Friday and 0.9% for the week, marking its eighth straight weekly gain while the Dow hit a fresh record. Amazon (AMZN) leads the watchlist at $266.32 after clearing its $258.60 buy point, with Jefferies reiterating a $320 target on AWS AI growth. Cadence Design cleared a $365.01 entry at $373.59, FedEx gained 4.9% weekly to $394.20 ahead of its June 1 spin-off, and Scorpio Tankers benefited from $70k/day tanker rates, all underscoring constructive technical setups amid geopolitical tailwinds.