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Amazon hits all-time high

Tuesday, December 29, 2015 - 01:08

Stocks rallied on Tuesday led by tech stocks like Amazon as well as energy shares. Bobbi Rebell reports.

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U.S. stocks rebounded as a cold weather snap heated up energy stocks. Advances in tech stocks also pushed the Dow, S&P 500 and the NASDAQ higher. Amazon among the winners-hitting an all-time high. Market volatility has quieted a bit, and that's been good news, says Cumberland Advisors' John Mousseau: (SOUNDBITE) JOHN MOUSSEAU, DIRECTOR OF FIXED INCOME, CUMBERLAND ADVISORS (ENGLISH) SAYING: "It's almost like lower volatility is a little better for the market, because then people focus on some fundamentals. So, it's not a drive down spike in oil price, it's not a terrorism attack by ISIS. You take some of that stuff away and people concentrate on the fundamentals, which are pretty good." Investors digested positive economic data. Home prices rose by 5.5 percent in October, topping estimates according to the S&P/Case Shiller report. Consumer confidence rebounded in December to a 96.5 reading. Pep Boys shares moved higher after the auto parts retailer's board found Carl Icahn's bid superior to the deal it had accepted from Japan's Bridgestone. And bank stocks offset a decline in mining stocks to lift European markets.

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Amazon hits all-time high

Tuesday, December 29, 2015 - 01:08