By Dhirendra Tripathi

Investing.com — Technology stocks helped lift the wider market and investors bought big tech companies like Amazon despite an Amazon Web Services outage that caused many sites to be inaccessible for several hours.

Tech-heavy surged by 3% in one instance, but was up 2.7% 20 minutes before the end.

Tech investors are now selling after the Federal Reserve indicated a quicker monetary tightening than anticipated and potentially a earlier rate increase next year. 

The other factor on peoples’ minds this week – the risk of a new surge in Covid-19 cases – was further eased after public health officials said it appeared the new Omicron strain was not as deadly as previous variants.

Three things could impact the markets in tomorrow’s future:

1. Soup earnings

Campbell Soup According to Investing.com analysts, Company’s first quarter profit per share was 81c on revenues of $2.27 Billion. Investors will be listening to the company’s comments about supply chains and profit margins.

2. JOLTs numbers

It is likely that the number of jobs available will have decreased again in October. The Labor Department’s Survey will be released Wednesday and it is seen reporting job openings of 10.369 in the month, down from 10.438 in September. 8.629 million job openings were available in August.

3. Amazon drama 

Amazon.com Inc (NASDAQ:)’s Web Services, Prime Video and its namesake e-commerce website were down for thousands of users on Tuesday, according to outage tracking website Downdetector.com, Reuters reported. And it’s likely people will still be talking about it on Wednesday.

Amazon stock rose 3.3% on Tuesday contrary to what many people believe.

Multiple websites were affected by the outage that lasted several hours. It was also the third AWS-related outage this year. Roku (NASDAQ:), Venmo, Walt Disney’s video streaming service, and FanDuel.

–This report was prepared by Reuters