“New technologies are impacting a wide range of Americans’ commercial behaviors, from the way they evaluate products and services to the way they pay for the things they buy“–Paul Ebeling
According to a Pew Research Center survey of US adult consumers, the survey revealed 79% Americans are now online shoppers and that they have bought more goods this Holiday season than in Y 2019.
To that end the Port of Los Angeles Executive Director said cargo volume is up 50% in 2-H of this year driven by a spike in the Holiday season buying.
This has caused delays in unloading ships at US ports and limited warehouse space putting a strain on the supply chain.
The Los Angeles port is North America’s busiest container port accepting 17% of all US cargo.
In November, it logged 890,000 20-ft-equivalent units (FEUs) of shipments, +22% from Y 2019. Since August, monthly cargo volume had averaged nearly 930,000 in 20-FEUs, the volume is unusual this late in the year. And imports from Asia are coming in at record marks. The port is strained.
Activity at the *Port of Los Angeles expected to continue for several more months.
- Note:The Port of Los Angeles and neighboring Port of Long Beach comprise the San Pedro Bay port complex, which handles more containers per ship call than any other port complex in the world. Worldwide, the Port of Los Angeles ranks #17, and the San Pedro Bay port complex ranks #9.
Monday, the benchmark US stock indexes finished at: DJIA +204.10 at 30403.91, NAS Comp +94.69 at 12899.43, S&P 500 +32.30 at 3735.36
Volume: Trade on the NYSE came in at 734-M/shares exchanged.
HeffX-LTN’s overall technical analysis of the major US stock indexes is Very Bullish in here.
- NAS Comp +43.8% YTD
- Russell 2000 +19.7% YTD
- S&P 500 +15.6% YTD
- DJIA +6.5% YTD
Looking Ahead: Investors will receive the S&P Case-Shiller Home Price Index for October Tuesday.
Have a healthy day, Keep the Faith!