W - E-commerce stocks outperform off rosier outlooks in U.S. and China

The Internet retail sector is outperforming after more data reports come in indicating strong consumer spending trends are in play. Analysts also think there is some sector rotation going on as the Q3 earnings season approaches. Notable gainers include iPower (IPW +7.7%), ContextLogic (WISH +4.2%), Fiverr International (FVRR +4.1%), Farfetch (FTCH +4.3%), eBay (EBAY +4.5%), Etsy(ETSY +3.2%), Shift Technologies (SFT +3.2%), Poshmark (POSH +2.6%), Shopify (SHOP +2.5%) and Wayfair (W +3.2%). China-related names are also getting bid higher as investors digest the implications of President Joe Biden and President Xi Jinping planning to have a virtual summit this year.  Baozun (BZUN +7.9%), Dada Nexus (DADA +6.9%), Alibaba (BABA +8.7%), Vipshop Holdings (VIPS +6.4%) and Pinduoduo (PDD +6.1%) are breaking higher in morning trading amid a broad rally in Chinese tech stocks.

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E-commerce stocks outperform off rosier outlooks in U.S. and China