Internet shopping data helps Nasdaq

The Nasdaq rose yesterday as strong online holiday sales boosted shares of retailers, including <strong></strong>, and relieved some concerns about the consumer.<br /><br />The Dow edged lower as falling oil prices prompted investors to sell energy shares, while the Standard &amp; Poor&rsquo;s index finished flat.<br /><br />Worries that bank profits could be hurt by derivatives legislation under consideration also curbed enthusiasm about the broader market.<br /><br />Amid continued questions about retailers&rsquo; strength in the holiday shopping season, online vendors turned out to be strong performers after analytics firm <strong>comScore</strong> said that Cyber Monday sales rose 5 per cent from the previous year.<br /><br />Shares of Amazon jumped 2.7 per cent to $142.25 on Nasdaq, and during the session, the stock hit a split-adjusted all-time high of $142.67.<br /><br />&ldquo;It&rsquo;s not a surprise e-commerce retail is expected to be much stronger than bricks-and-mortar retail this season. More people are content to do more convenient shopping online and get just as good, if not better, discounts,&rdquo; said Michael James, senior trader at regional investment bank Wedbush Morgan in Los Angeles.<br /><br />The Dow Jones industrial average declined 18.90 points, or 0.18 per cent, to end at 10,452.68. <br /><br />The Standard &amp; Poor&rsquo;s 500 Index inched up just 0.38 of a point, or 0.03 percent, to finish at 1,109.24. <br /><br />The Nasdaq Composite Index gained 9.22 points, or 0.42 percent, to close at 2,185.03.<br /><br />Shares of <strong>Bank of America</strong> Corp rose 3.2 per cent to $16.15 after the closing bell as it said it has worked out a deal with the government to repay $45bn in taxpayer bailout funds, known as Troubled Asset Relief Program (TARP) funds, by raising new capital. <br /><br />During the regular session, the banking company&rsquo;s stock closed at $15.65, down 1.5 per cent, on the NYSE.<br /><br />An ADP National Employment private-sector survey showed US private employers shed 169,000 jobs in November. <br /><br />That data got Wall Street&rsquo;s attention because weakness in the labour market is one of the biggest headwinds facing a recovery.