S&P 500 climbs on boost to retail stocks
Is this for real? The S&P 500 is up 4 points today to 2601, a fresh record. That isn't much but what's bizarre is that it's retail stocks leading the way.
- Macy's +3.15%
- Best Buy +0.5%
- Amazon +1.7%
- JC Penny +0.8%
- Wal-Mart +0.3%
- Kohn's+1.7%
It's not universal because Target and Nordstrom are down but it's ridiculous all the same.
Anyway, this market is like Black Friday: Buy everything because the prices are going to be higher later.