Retail Sales Surge Amidst Positive Data
Amazon.com Inc‘s AMZN stock shines following robust consumer spending figures. July’s retail sales leaped 1% above expectations, with a year-over-year growth of 2.7%. Additionally, jobless claims dipped to five-week lows, fostering a positive sentiment.
Market Response to Amazon’s Mixed Earnings
While Amazon’s stock previously stumbled post-Q2 earnings report due to missed sales targets and tepid guidance, the recent consumer data paints a brighter outlook. Despite the challenge of inflation on economic activities earlier this year, bullish and bearish sentiments surround AMZN stock trading.
Direxion Offers Dual ETF Options
Direxion introduces two compellingly focused Amazon ETFs to cater to market sentiments. The bullish Direxion Daily AMZN Bull 2X SharesAMZU aims to double daily AMZN returns, while the bearish Direxion Daily AMZN Bear 1X SharesAMZD mirrors inverse AMZN stock returns.
To avoid value erosion, both AMZU and AMZD are recommended for short-term holding, typically not exceeding a day. The daily leveraged nature of these funds necessitates caution for longer positions.
ETF Performance Post-Retail Sales Surge
AMZU‘s post-Q2 earnings decline saw a significant recovery post-retail sales surge. The ETF broke its 20-day EMA and eyes the 200-day moving average, with $32 as a critical support level.
AMZD, the inverse ETF, faced challenges before the recent economic data. However, recent market response suggests a potential turnaround for the bears, with $14.18 as a crucial support threshold to watch.
Images from Esteban Rodriguez on Pixabay.
