Your Monday Blip 12/28/20

Your Monday Blip 12/28/20

Stocks rallied post-Christmas and got a boost after the virus relief package was finally signed into being. The measure brings $900 billion to those struggling with the fallout of the pandemic. At the close the Dow had gained 204 points and hit an all-time high closing at 30,403. Trading volume was higher and both IBD and BTS indicators remain positive.
Mastercard reported that US retail sales rose 3% during the Christmas shopping season from October 11th to December 24th. Driving the number was a 49% increase in e-commerce sales which made up 19.7% of total holiday retail sales this year. The big winners were home furniture and furnishings which rose 16.2% while Electronics rose 6%.
Car sales rebounded in December from a slow November. TrueCar is projecting that light vehicle sales in December will total $62 billion up 35.6% from November. The three companies that saw the biggest gains were Tesla, Volvo and Alfa Romeo. TrueCar reports that car sales are nearly back to normal pre-pandemic levels as year over year sales of light vehicles were down 2.2%.

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