Amazon holiday sales set yet another record, the markets did the same today and more in Thursday’s Closing Bell on Money & Markets.
While they didn’t release any specific sales numbers, Amazon.com Inc. (Nasdaq: AMZN) reported its holiday sales as “record-breaking.” The online retail giant did say 5 million new customers started Amazon Prime free trials or paid memberships globally, according to Bloomberg.
Shares of Amazon jumped more than 4% in afternoon trading on a day with very light trading volume in the markets.
Fellow retailers Macy’s Inc. (NYSE: M), Nordstrom Inc. (NYSE: JWN) and JCPenney Co. Inc. (NYSE: JP) also had strong gains Thursday.
Money and Markets: Closing Bell
S&P 500: 3,239 (+16 points, +0.5%)
DOW: 28,621 (+105 points, +0.3%)
NASDAQ: 9,022 (+69 points, +0.7%)
GOLD: $1,511.25 (+12.11, +0.8%)
BITCOIN: $7,211.55 (-0.7%)
U.S. 10-YEAR YIELD: 1.89%
*as of 4:09 p.m.
Golden Nuggets
Gold crossed the $1,500-per-ounce mark Thursday morning and held firm into the afternoon.
Other precious metals were also up the day after Christmas with platinum and palladium both surging double-digits through afternoon trading.
The gains were made on a relatively light trading day and despite most European markets being closed for the Boxing Day holiday, according to Kitco News.
Cannabis Corner
Cannabis stocks were mostly down on light trading Thursday.
Aurora Cannabis Inc. (NYSE: ACB) was up as much as 2% in afternoon trading but tapered off. Canopy Growth Corp. (NYSE: CGC), however, was down more than 3%.
Innovative Industrial Properties (NYSE: IIPR) — a real estate investment trust specializing in cannabis facility properties — was up more nearly 3% during the day.
In other cannabis news, Marijuana Business Daily reported cannabis retailers in Illinois are expecting long lines starting at 6 a.m. New Year’s Day — when stores can officially begin legal adult-use recreational marijuana sales.
The publication projected the state’s recreational program could generate as much as $2.5 billion per year.
Illinois became the first state to legalize retail sales through state law.
Note: Check back each Saturday morning for “Marijuana Markets: a POTcast,” featuring the biggest cannabis news and investment notes from Banyan Hill’s Anthony Planas, here on Money and Markets.
Stock Market Update
U.S. markets were up Thursday — including a new record for the S&P 500 and the Nasdaq crossing 9,000 for the first time in history.
The S&P 500 closed up 16 points, or 0.5%, to 3,239 points,. The index last hit a record high on Monday. The Dow Jones Industrial Average rose 0.3%, to 28,621. The Nasdaq composite added 0.7%, extending its winning streak to 11 days.
In other economic news, long-term mortgage rates were up slightly Thursday.
Mortgage buyer Freddie Mac said the 30-year fixed-rate mortgage bumped up to 3.74%, from 3.73% last week. The 15-year fixed-rate remained unchanged from a week ago at 3.19%.
TODAY’S BIGGEST WINNERS:
(as of 3:15 p.m. EST)
Amazon.com Inc. (Nasdaq: AMZN) +4.1%
Apple Inc. (Nasdaq: APPL) +1.6%
NetEase Inc. (Nasdaq: NTES) +2.2%
JPMorgan Chase & Co. (NYSE: JPM) +0.9%
American Airlines Group Inc. (Nasdaq: AAL) +1.5%
TODAY’S BIGGEST LOSERS:
(as of 3:15 p.m. EST)
Incyte Corp. (Nasdaq: INCY) –2.2%
Boeing Co. (NYSE: BA) –0.8%
Dollar Tree Inc. (Nasdaq: DLTR) –1.3%
3M Co. (NYSE: MMM) –0.3%
Kraft Heinz Co. (Nasdaq: KHC) –1.4%
Check back for the most important news and numbers each day after the Closing Bell, only on Money and Markets.