Today’s Top News ⇒ Big Tech Booms, Oil Dips, and Crypto Holds Strong

[Em Vicky Khan]

Amazon Reports Record Q1 Profits – AI and Cloud Services Drive Revenue Surge
Amazon reported an all-time high in Q1 earnings, with $12.7 billion in net income driven by explosive growth in its AWS cloud platform and advertising business. CEO Andy Jassy cited AI integrations as a "game-changer" for long-term scalability. Amazon stock jumped 7% in after-hours trading.

Oil Prices Drop Below $80 as Global Demand Forecast Slips
Crude oil prices fell by 2.1%, settling at $78.95 per barrel after OPEC reduced its global demand forecast. Analysts attribute the drop to slower-than-expected economic recovery in China and energy efficiency reforms across Europe.

Bitcoin Holds Steady Above $61,000 Despite Regulatory Uncertainty
Bitcoin maintained its position above the $61,000 mark, showing resilience amid continued U.S. SEC crackdowns on crypto exchanges. Investors are watching for updates on a potential Bitcoin ETF approval in June.