Wall Street rallies as Cyber Monday shoppers log on
Updated : November 27, 2018 06:16 AM IST
The S&P 500 and the Dow Jones Industrial Average rose about 1.5 percent, while the Nasdaq advanced more than 2 percent. All three indexes posted their biggest percentage gains in nearly three weeks.
An online spending frenzy was expected as retailers tempted customers with a blizzard of discounts and free shipping. Cyber Monday spending is seen reaching an all-time high of $7.8 billion in the United States, according to Adobe analytics.
E-commerce bellwether Amazon.com rose 5.3 percent, providing the biggest boost to both the Nasdaq and the S&P Retail index, which was up 3.1 percent.
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