In a much needed relief to the investors, Amazon stocks climb up, bucking the downtrend caused by the other influential brands in the trading market.

In a much needed relief to the investors, Amazon stocks climb up, bucking the downtrend caused by the other influential brands in the trading market. The hike of more than 1% in Amazon shares lead to fresh regains, thus, making it one of the most preferred retail stocks to be owned right now.

This hike in Amazon stocks has further provided a balance to the otherwise weaker economy. As of now, the stocks are past the 19% mark amounting to 603.34 cup-with- handle buy point as reported by the day end. As for investors, it is really good news especially for those who had bought the stocks at the breakout as really big gains are up for grabs. There are predictions that the stocks may further be up by Weekend. 

If on one side, Amazon has turned out to be a reliable brand then equally disappointing have been the performances of others like Macy's and Fossil. As per market analysis, it is seen that consumers have been massively investing in the online retailer, which has resulted to even better forecasts. In a recent study, it was found out that last year; Amazon single-handedly contributed to 60% of growth in the e-commerce sector. 

Amazon being a growth driver has further raised question on if it is the only reliable retail stock left to own?

How Amazon is a Safe Bet Right Now?

The online retail giant, Amazon has been doing really well off-late. On Wednesday also, it witnessed 1.5% growth finally closing at $713.40. Amazon is counted amongst those very few online businesses that are actually eating up the departmental stores because an increasing number of consumers are taking up online shopping concept.

It remains to be seen what Amazon stocks have in store for investors. Until then we can only hope for a more stable economy.