ETFs
July promotions historically boost stocks, here are the companies and ETFs to watch
Some retail and technology stocks typically perform well in July as companies hold promotional events during the summer.
- Retail Giant Amazon.com, Inc. (NASDAQ:AMZN), which has a Prime Day sale in mid-July, rose in the last two Julys after falling in July 2021 and July 2020.
- THE Home Depot Inc. (NYSE:HD), the world’s largest home improvement retailer, which holds annual Fourth of July sales, posted gains in the last four months of July.
- Apple Inc. (NASDAQ:AAPL) has advanced in the last three out of four Julys as the company approaches the fall announcement of the latest iPhone.
- Microsoft Corporation (NASDAQ:MSFT) has seen its stock rise in two of the last four months of July, the month when it typically holds game sales.
Also read: Apple eyes new growth on extended smartphone replacement cycle, strategic pricing, analyst says
ETFs that performed strongly in July due to historical trends and sector strengths include SPDR S&P 500 Exchange Traded Fund (NYSE: SPY)which follows the S&P 500 index, and the Invesco QQQ Trust (NASDAQ:QQQ)which tracks the technology-heavy Nasdaq Composite Index.
THE SPDR S&P 500 Exchange Traded Fund (SPY) and the Invesco QQQ Trust both increased over the past four months of July and have been rising since the start of this month.
Emails to analysts covering Amazon, Home Depot, Apple and Microsoft did not immediately receive a response.
Price action: Amazon rose 1.41% to $199.97 in late afternoon trading Tuesday; Apple rose 1.34% to $219.66; Microsoft gained 0.46% to $458.81; and Home Depot fell 0.39% to $334.87.
Amazon, Apple and Microsoft all gained in the first two days of July, while Home Depot fell.
THE SPDR S&P 500 EFT (NYSE:SPY) gained 0.47% while the Invesco QQQ Trust jumped 0.90%.
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