Optim
Optimism has been sweeping the broader market since mid-October, when the USA and China introduced the phase-one commerce deal, after months of wrangling. The S&P 500 and the Nasdaq have hit a number of highs on this course of.
And as quickly because the Santa rally kicked in, the tech-heavy Nasdaq index hit the 9000-mark on Dec 26, backed by Amazon AMZN, Apple AAPL and commerce deal hopes. The Nasdaq index has now logged its 11th straight optimistic return, marking “its longest winning streak since 2009.”
Contained in the Drivers
Per Mastercard (M), vacation retail gross sales surged 3.4%, with on-line gross sales leaping 18.8%, marking a faster e-commerce pace than final yr. E-commerce gross sales accounted for about 14.6% of complete retail. Amazon reported file vacation gross sales this yr. Its shares gained 4.5% on Boxing Day, whereas Apple, one other beneficiary of Vacation season 2019, added greater than 1.9%.
Apple deserves a particular point out right here. Notably, a slew of latest devices, stable demand for AirPods and iPhone 11 could enhance…