TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Monday, November 27th.
Full Video Transcript Below:
J.D. DURKIN: I’m J.D. Durkin, reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Wall Street is on pace to wrap up its best month in over a year after four straight weeks of gains. This winning streak comes despite indications that the Fed may need to keep interest rates higher for longer.
This week, investors will be paying close attention to further comments from Fed officials, key inflation data, and jobless claims out on Thursday.
Meanwhile, if you shopped online this Black Friday, you contributed to the highest online Black Friday sales on record.
According to Adobe Analytics, shoppers spent a record 9.8 billion dollars on Friday, up 7.5 percent from 2022. This surge in spending comes at a time when inflation is still high, but down over 50 percent from this time last year. The report found that the best-selling categories were electronics, toys, and gaming.
But consumers are still price conscious… According to the report, 79 million dollars of the sales came from shoppers who opted for the buy now pay later option, a 47 percent increase from 2022.
And the shopping isn’t over yet… Adobe predicts that Cyber Monday will bring in 12 billion dollars and that the 5-day period between Thanksgiving to Cyber Monday will rake in 37.2 billion dollars, up over 5 percent from 2022.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
