Morning Business Report: Amazon Prime Day begins, but it’s not what it used to be

Amazon’s Prime Day is here, but it’s not what it used to be. The sale simply doesn’t drive up the company’s stock these days. In fact, for the past few years, Amazon stock has fallen during the week of Prime Day. But, that doesn’t mean Americans are ditching Amazon. According to data gathered by Upgraded Points, the average American spends $91.75 on the ecommerce site each month.

Median monthly mortgage payments are at a record high. The Mortgage Bankers Association says that the payments are now $2,165. Higher interest rates and home prices are to blame.

Wall Street started the week in the green.
The DOW gained 200 points.

Just last year, Bud Light was ranked as America’s 9th most popular beer. But, its ongoing slide in sales means that it’s not even in the top 10 anymore. MoneyWatch reports that Bud Light sales are down by almost 30% from last June and “Is showing no signs of rebounding from its slump.” So, where does Bud Light rank among consumers now? The brand is sitting at 14th.

This week, AMC Theaters announced that over 20,000 members of its AMC Stubs loyalty program have purchased tickets for two movies coming out on the same day. Movie goers are getting their seats for “Barbie” and “Oppenheimer” in advance. If you’re able to find seats, you can catch both movies on July 21.