Black Friday is over and now it is Cyber Monday. A new day with new opportunities. It`s Cyber Monday shopping for consumers to shop online, but it seems like it is Cyber Monday shopping on Wall Street too.
The Dow is up a whopping 373 pints amid expectations for a historic Cyber Monday. Nasdaq jumped 2,30 percent and ended at 6,677,26. I talked about the declining SPDR S&P Retail ETF on Friday last week, but it bounced back on Monday, up nearly 2 percent.
The shares of retailers rose on Monday after last week`s sell off. According to Adobe analytics, Cyber Monday spending is seen reaching an all-time high of $7,25 billion in the United States, and that will mark a historic day for online shopping.
Thanksgiving, Black Friday, Cyber Monday and the coming Holiday Season can help to lift retailers from the declining trend we have seen since October. The third-quarter reporting season is also over, with nearly 97 percent of companies in the S&P 500 having reported. 78 percent of the companies beat analyst expectations.
Cyber Monday is an event that can only be rivaled by Black Friday, and Cyber Monday is expected to set new spending records for online shopping in 2018. Not only total sales are high on Cyber Monday, but Cyber Monday is also likely to see a record number of online shoppers this year.
Cyber Monday was wild last year, but it jumped nearly 100 percent from 2016 to 2017. This year, the online sale is expected to jump over 10 percent. $7,25 billion in sales will be a new record for online sales in a single day.
Trade tensions will come back later on this week as President Donald Trump is planning to meet with Chinese President Xi Jinping at a multilateral Summit in Argentina on Friday and Saturday, with tariff escalation between the world`s largest economies on the line.
Investors are waiting for the G20 Summit convening in Buenos Aires on Friday and Saturday. In the mean time, be prepared for what can be the largest online sales day in history; Cyber Monday.
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