Amazon shares are in focus for Thursday with the earnings announcement coming after the close. The news from Microsoft that its cloud-computing business shows growth also helped expectations for Amazon which also has a large cloud business.

The seasonal moves for Amazon are quite mixed with average losses of nearly 3% from April 29 through to May 23 over the last 25 years. However, the seasonal pattern shows a period of distinct strength during the summer months.

So, would this make a dip on Amazon earrings a good dip to buy? Or are the risks surrounding the outlook for global stocks just too high?

Major Trade Risks: The major trade risk here would be if the US head into a deep recession and higher rates from the Federal Reserve pressure stocks generally.

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