Amazon will report earnings Thursday afternoon in the wake of upbeat cloud results from its major rivals that suggested healthy AI demand. MarketWatch will be breaking down the expectations and results.

The tariff deal between the U.S. and China helped Amazon stock rally back from April lows. But the stock is still chasing highs from early February and may have some questions to answer for investors before it can reach new heights.

Amazon and Microsoft's dominant position in cloud computing is having an adverse effect on competition, exacerbated by technical and commercial barriers to switching, an inquiry group from Britain's antitrust regulator said.

Amazon Web Services (AWS), the cloud unit that accounts for less than a fifth of the company's sales but typically about 60% of its profit, likely grew 17% in the April-June period. Amazon, like its rivals Alphabet and Microsoft,