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Benzinga
Benzinga
Business
Henry Khederian

Here's Why eBay, GameStop And Shopify Shares Are Rising

eBay GameStop SHOP Shopify NYSE eBay Inc GameStop Corp. GME Shopify Inc

Shares of several companies in the retail & apparel sector, including eBay Inc (NASDAQ:EBAY), GameStop Corp. (NYSE:GME) and Shopify Inc (NYSE:SHOP), 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

eBay is trading higher by 2.9% at $53.58.

GameStop is trading higher by 3.0% at $80.50.

Shopify is trading higher by 5.4% at $540.03.

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