Americans spent billions on Black Friday and Cyber Monday

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and the total tally from Black Friday and Cyber Monday.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:03Here's what we're watching on the street today.

00:05Investors took a pause on Tuesday.

00:07Wall Street is waiting for key jobs data, which

00:10could add clarity on whether the Federal Reserve will cut

00:13interest rates at its December meeting.

00:15The stock market has been on a tear so far this year,

00:18with the benchmark S&P 500 up 27% year to date.

00:23While Wall Street is keeping a close eye

00:25on how the key holiday shopping season is faring,

00:28according to Adobe Analytics, consumers

00:30spent $13.3 billion online on Cyber Monday.

00:35That better than expected one day shopping spree

00:38was 7.3% stronger than the same time last year.

00:42Cyber Monday is just the latest signal showing consumers

00:46are in a shopping mood.

00:47Americans did $41.1 billion worth

00:50of online shopping between Thanksgiving

00:52Day and Cyber Monday.

00:54While Cyber Monday retained its title

00:56as the biggest online shopping day in history,

00:59according to Adobe Analytics, Thanksgiving Day spending

01:02hit a record.

01:04All in all, online spending during the five-day stretch

01:07jumped 8.2% compared to last year.

01:11And it's not just online retailers feeling the love.

01:14According to the National Retail Federation,

01:16126 million shoppers went old school hitting malls and shops

01:20during Thanksgiving weekend, up from 121.4 million in 2023.

01:26Cash registers rang up an average of $235 per shopper,

01:31a number that was slightly ahead of last year.

01:35The industry trade group tallies the holiday season

01:37from November 1st to December 31st,

01:40predicting this year sales will add up to something

01:43just under $1 trillion.

01:46That'll do it for your daily briefing from the New York

01:48Stock Exchange.

01:50I'm Conway Gittins with The Street.

Category

Transcript

Recommended