Shares of several companies in the retail & apparel sector, including Amazon.com, Inc. AMZN, Etsy Inc ETSY and Target Corporation TGT, are trading higher amid overall market strength following a lighter-than-expected U.S. PPI report.
USA PPI month-over-month for Feb was 0.800% vs the 0.900% consensus estimate. The prior reading was 1.000%.
Notably, according to the U.S. Bureau of Labor Statistics, nearly 40% of the February increase in prices for final demand goods can be attributed to the index for gasoline, which rose 14.8%. Prices for diesel fuel, electric power, jet fuel, motor vehicles and equipment and dairy products also advanced.
See Also: Costco And This Cybersecurity Stock Will Be Featured On 'Mad Money' Tonight
Amazon is trading higher by 3.6% at $2,937.85.
Etsy is trading higher by 3.0% at $121.85.
Target is trading higher by 2.3% at $213.78.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.