By - Rupam Roy
Highlights:
- Amazon (AMZN) will hold a "Cyber Monday Weekend Event" from Saturday, November 26.
- Revenue of Levi Strauss & Co (LEVI) surged one per cent YoY in Q3 FY22.
- On a last three-year basis, Shopify Inc. (SHOP) had a revenue CAGR of 52 per cent.
The US market has witnessed choppy trading so far through the year, with about most of the sectors falling into the bear market territory. Having said that, the S&P 500 index noted its worst first-half performance in several years, while the other two indices also fell into the bear market.
This week, investors might keep a close track of two key events like Thanksgiving and Black Friday.
The market participants are hoping that consumers might loosen their purse strings this year during the holiday shopping season. Meanwhile, the figures of the holiday spending plan are expected to provide insights to investors on how consumers are handling the decades-high inflationary pressures and other uncertainties in the market.
The latest strong retail sales data seemed to have lifted the market spirits, and the consumers are holding up their spending. In addition to that, the inflation data for October also suggested that inflation is cooling, in the wake of the Fed's aggressive tightening of its monetary plans.
The stronger-than-anticipated retail sales data also allayed some concerns of investors that the economy is heading toward a recession. Traders have lauded the latest set of positive economic data, including the US GDP readings for the third quarter.
The data showed that the nation's economy has advanced in the last quarter, after retreating for the starting two quarters of the year.
Meanwhile, while talking about the US e-commerce segment, the first name that pops up is Amazon.com, Inc. (NASDAQ: AMZN). However, several other companies comprise the e-commerce segment.