Amazon's Q3 2026 results, released October 29, drove the dominant sentiment for the week of October 26, with net sales of $201.9 billion and EPS of $1.89 both missing consensus while operating income reached a record $28.1 billion and AWS revenue accelerated 39%. Heavy AI infrastructure spending produced trailing twelve-month negative free cash flow of $42.4 billion, prompting a post-earnings selloff that pushed shares below $240 from the prior close near $244 amid broader concerns over 2026 capex guidance of $220 billion. Traders are weighing AWS backlog growth and operating margin expansion against near-term cash flow pressure and advertising softness, with no major catalysts remaining in the week. Market-implied probabilities continue to embed this earnings-driven volatility.