Shares of several companies in the retail & apparel sector, including Amazon.com, Inc. (NASDAQ:AMZN), Etsy Inc (NASDAQ:ETSY) and Target Corporation (NASDAQ: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.
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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.
