Retail Stocks Are Flying After Good News About Cyber Monday And Black Friday Sales

Retail stocks soared on Wednesday as the wave of good news keeps coming after Cyber Monday and Black Friday. Shares of big box retailers like Macy’s, Nordstrom, Sears, and Target have enjoyed gains of over 6%. Adobe Analytics estimated that the US holiday season would deliver $100 billion in sales for the first time. Online revenues are 13.8% higher compared to last year. Amazon accounted for half of the sales on Black Friday. Despite announcing that it had its biggest single sales day on Cyber Monday, its shares fell, dragged by an overall decline in tech stocks. Read more at Business Insider.