Gerald Storch, Storch Advisors CEO and the former Toys "R" Us CEO breaks down the latest retail sales number and what to expect from the supply chain crisis.
Top news and what to watch in the markets on Friday, October 15, 2021.
Shares of Amazon.com (NASDAQ: AMZN) jumped 3.3% on Friday after retail sales unexpectedly climbed in September. Concerns had been mounting that stubbornly high COVID-19 case counts, the end of enhanced unemployment benefits, and supply chain bottlenecks would conspire to weaken the retail industry's recovery. As the largest e-commerce company and second-biggest retailer (by sales) in the U.S., Amazon stands to benefit from these sales trends as it enters the all-important holiday shopping season.