-December 18,2023-
Major companies with facilities in Visalia are enjoying a Santa Claus rally in their are stocks this month including firms like Amazon with two big employment centers in Visalia, clothing company VF Corp., package giant UPS, Costco, Joann stores, International Paper and Macy’s on Mooney, all celebrating an uptick in their stock price a week before Christmas. If Visalia companies are doing well this holiday season because of investor optimism fueled by the holiday spirit, it bodes well looking forward to 2024 for the Visalia economy.
The Wall Street Journal this weekend added their voice to reports of a Santa Claus rally among US consumers.
“This year’s holiday season is giving retailers reason to be jolly. Retail sales rose 0.3% in November from the month before, bucking a 0.1% decline expected by economists polled by The Wall Street Journal. The WSJ’s Justin Lahart writes in Heard on the Street that the ringing of cash registers in the run-up to Christmas is drowning out gloomy consumer polls. Americans still have plenty of money to spend, the jobs market remains strong and there are more deals to be had this year as inflation cools and prices for toys, sporting goods and computers are coming down. The National Retail Federation said a record 200.4 million people shopped in person and online from Thanksgiving Day through Cyber Monday. Economists note that higher interest rates and the resumption of student debt repayments still threaten to crimp spending. But consumers probably won’t be able to tell by looking at the pile of gifts under this year’s tree.”
Here are the stock charts for the companies we mentioned.
