STOCKS RALLY TO RECORD HIGH: Here's What You Need To Know
First, the scoreboard:
- Dow: 18,053.7, +23.5, (+0.1%)
- S&P 500: 2,088.7, +6.9, (+0.3%)
- Nasdaq: 4,806.8, +33.3, (+0.7%)
And now, the top stories:
1. Once again, the US stock market achieved new records. The S&P 500 set an intraday high of 2,092.70 and the Dow set an intraday high of 18,103.45. There were no major market-moving economic reports on the calendar today.
2. Holiday sales were strong. According to MasterCard Advisors SpendingPulse, retail sales during Black Friday through Christmas Eve were up 5.5% this year. According to ChannelAdvsior via Bloomberg, online sales jumped 14% from November 27 to December 21. According to IBM via Bloomberg, online spending on Christmas Day jumped 8.3%.
3. Amazon.com Prime service is booming. "We are excited to welcome more than ten million new members to Amazon Prime this holiday season, who benefited from unlimited Free Two-Day Shipping on their holiday gifts," CEO Jeff Bezos said. AMZN shares gained 2%.
4. GoPro shares surged 4%. Amazon.com highlighted the GoPro HERO4 SILVER, headstrap mount and clip, and accessories kit among its list of holiday best sellers.
Don't Miss: The Top 10 Things We Learned About The Economy And Markets In 2014 »