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Thanksgiving online sales pass $1.5B

Published 11/24/2017, 04:59 AM
© Reuters.  Thanksgiving online sales pass $1.5B
  • U.S. shoppers splurged more than $1.52B online by Thanksgiving evening and more bargain hunters turned up at stores as they opened their doors early ahead of Black Friday.
  • According to Adobe, which tracks 80% of online transactions at the top 100 U.S. retailers, consumer spending rose 16.8% Y/Y until 5 p.m. ET.
  • At least from the stock market perspective, history tells us this is a very good time for retail stocks. Since 2007, from a week before Black Friday to a week after, the sector usually gains 5%.
  • Previously: Thanksgiving shopping puts retail on watch (Nov. 23 2017)
  • ETFs: XLP, XLY, VDC, XRT, VCR, RTH, PBJ, RETL, PEJ, IYK, FXG, IYC, SCC, FXD, RHS, UCC, PMR, UGE, RCD, PSL, PSCC, SZK, FDIS, FSTA, PSCD, PEZ
  • Now read: How To Avoid The Worst Sector ETFs Q3 2017


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