The Day Amazon Grew More Than All Of FedExSubmitted by DeDora Capital on November 2nd, 2017
by Will Becker, AWMA/AIF
The mornings are cool, the leaves are changing color, (some) rain is in the forecast, Halloween is passed... come on winter!
The proposed Tax Overhaul bill is in circulation, and will certainly be modified before it passes. Some current highlights of it are here and here. Jobless claims came in better than expected, hitting a level not seen since 1973. Personal Incomes are up, as well.
FedEx's 400,000 team members ship 13 million packages a day, and by the company's estimate they "connect" 99% of global GDP. So it came as jolt last Friday when Amazon took less than a day to grow by the entire size of FedEx. To put it another way, Amazon grew more in one day than 400 of the individual S&P 500 companies. And it wasn't just Amazon that had a knockout day. Microsoft, Alphabet (Google), Apple, and Facebook all had insanely good days. Hence the "Tech or Treat" cartoon below.
November means Holiday shopping is getting rolling. I mentioned positive Employment & Personal Incomes data above, and the National Retail Federation (charts below) also cites that information as part of their holiday spending estimates: “With employment and incomes increasing, consumers are more confident this year and that is reflected in their buying plans for the holidays.” Unsurprisingly, given the Tech topic above, 59% of Consumers plan to shop online. How much are you planning to spend this Holiday season? The National Retail Federation annual survey estimates that Consumers will spend an average of $967 this year, a 3% increase over last year. Happy shopping!
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