Market Finds Some Recovery
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The fear of a Fed rate increase subsides today as investors start to believe that the bark and bite are not the same thing if interest rates do go up. Internet stocks regain most of yesterday's loss, the current ISDEX value is 580.05 with a change of+7.12 (+1.24%).
It will be difficult for any retail Web company to compete with Amazon with such a war chest at its disposal. Separately, Drugstore.com (which Amazon owns 44% of) files to go public and raise as much as $67.5 million. The market may be starting to discount ahead some of that as AMZN shares gain 5% to $139 9/16.
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