U.S. equities are higher, playing catch-up to yesterday's gains
U.S. equities are higher, playing catch-up to yesterday's gains in Europe and Asia, even as European bourses are underperforming this morning after hitting one-month highs. Wall Street has hit fresh all-time highs over the first three sessions this week with the Dow over 19,000 and the NASDAQ over 2,200 for the first time ever. And, the ongoing "Trumpflation" trade, along with expectations for a strong holiday shopping season are buoying stocks, while energy and materials are a drag. Retailers are looking for a 3% to 4% annual gain in holiday sales this year. Indeed, Target has surged amid hefty on-line sales on Thanksgiving. dobe Digital Insights said Thanksgiving on-line shopping rose 13.6% y/y to $1.15 B.