The rise comes as the Dow Jones Industrial Average gained over 500 points following a 653-point drop on Monday, the day before Christmas. The Dow rallied over 200 points early, lost its gain and then surged again in a volatile Wednesday session—a recurring theme lately in the stock market.
Retailers might get another boost by holiday shoppers taking advantage of after-Christmas sales. The National Retail Federation reported that 50 percent of the day-after-Christmas shoppers will be taking to brick-and-mortar stores to do their shopping, while another 45 percent will go online.
Another 27 percent plan to use their gift cards received on Christmas, which should also help boost retail ETFs like RETL.
“Having made their lists and checked them twice, holiday shoppers have been out in full force these last few weeks, but many are still waiting to complete their shopping this weekend,” NRF President and CEO Matthew Shay said. “Retailers will use every opportunity to see that shoppers have a great experience in these final few days. Whether looking for competitive prices, festive in-store events or last-minute online shipping deals, retailers are ready to deliver.”
For more market trends, visit ETF Trends.
