Amazon reaches milestone before crossing $1 trillion

Amazon.com Inc.’s ascent toward $1 trillion in market value resulted in a stock-market milestone last month. The Internet retailer’s shares became the most expensive in the S&P 500 Index by surpassing those of Booking Holdings Inc., an online-travel company that held the top spot for the past 4 1/2 years. The position changed hands after Booking, formerly Priceline Group Inc., gave a disappointing earnings forecast in Aug. 9. The stock-price gap between them closed at $61.16 last week, when Amazon topped $2,000 for the first time.