“Americans are on pace to buy more gift cards that ever before, with gift-card spending this Christmas Holiday Season expected to rise 19% compared to last year“– Paul Ebeling
Note: Thursday, Christmas Eve in the US will have a shortened trading session.
As the Christmas Holiday shopping season wraps up, US stock investors are gauging whether lagging shares of brick-and-mortar retailers can sustain their recent rebound in anticipation of a full economic reopening in Y 2021.
The SPDR S&P Retail ETF, which tracks a broad group of retailers such as department and specialty stores, is up nearly 40% YTD. Its gain reflects a rally that has lifted shares of companies in sectors particularly sensitive to the economic cycle in the wake of recent breakthroughs in COVID-19 vaccines.
The numbers pale in comparison with the huge gains online companies such as Amazon.com Inc.(NASDAQ:AMZN) , Etsy Inc.(NASDAQ:ETSY) and Wayfair Inc. (NYSE:W) have experienced this year, after the virus chaos drove a shift toward internet shopping.
Some investors believe that more traditional retailers may be able to narrow that gap in Y 2021.
Their view aligns with a broad bet that vaccines against the coronavirus will spur widespread economic reopenings across the US, helping the industries that have suffered most from the effects of The China Virus.
Wall Street is looking forward to a time when America is not locked down.
Wednesday, the benchmark US stock indexes finished at: DJIA +114.32 at 30129.77, NAS Comp -36.80 to 12771.12, S&P 500 +2.75 at 3690.01
Volume: Trade on the NYSE came in at 813-M/shares exchanged
HeffX-LTN’s overall technical analysis of the major US stock market indexes is Bullish with a Very Bullish bias in here.
- NAS Comp +42.3% YTD
- Russell 2000 +20.3% YTD
- S&P 500 +14.2% YTD
- DJIA +5.6% YTD
Looking Ahead: Investors will not receive any economic data Thursday
Have a healthy Happy Christmas Holiday week, Keep the Faith!