U.S. stocks experienced a slight dip on Monday as investors processed strong Black Friday retail sales data. According to Adobe Analytics, consumers spent a record $9.8 billion online during the sales event, marking a 7.5% year-over-year growth. In-store sales increased by 1.1% year over year on Black Friday, while e-commerce sales jumped 8.5%, leading to a 2.5% overall increase in sales, according to data from MasterCard.
Furthermore, the wave of consumer holiday spending is expected to continue with Cyber Monday deals. Fundstrat’s Tom Lee commented on the spending data, saying that it isn’t strong enough to prompt the Federal Reserve to tighten its policies.
As of 9:30 a.m. on Monday, here’s where U.S. stock indexes stood:
– In commodities, bonds, and crypto, West Texas Intermediate crude oil dipped by 0.46% to $75.19 a barrel. Brent crude, the international benchmark, also fell by 0.47% to $80.20 a barrel. Gold prices climbed by 0.44% to $2,011.90 per ounce, and the 10-year Treasury yield dropped by 2 basis points to 1.44%. Bitcoin also experienced a 1.68% drop to $36,831.
I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.
