Wall Street Breakfast Black Friday: Online shopping riding high
Nov 29, 2024
Online shopping hit a staggering $6 billion on Thanksgiving alone, showcasing the power of holiday discounts. The discussion highlights the impressive performance of consumer discretionary stocks amid this surge. Meanwhile, Microsoft faces scrutiny from the FTC, but analysts remain unfazed. On a global scale, Canada's move to break up Google adds an intriguing twist to the digital landscape. Plus, Disney's 'Moana 2' breaks Thanksgiving records, illustrating the impact of entertainment on consumer spending.
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Holiday Spending Trends
- Holiday spending reached record levels, despite lower buying power and stagnant incomes.
- Online spending on Thanksgiving Day increased by 8.8% from last year, exceeding $6 billion.
Moana 2 Box Office Success
- Disney's Moana 2 achieved record-breaking Thanksgiving box office success.
- The film grossed $57.5 million domestically on Wednesday and $28 million on Thursday.
Microsoft FTC Investigation
- The FTC's investigation into Microsoft is not a major concern, according to Wedbush Securities.
- They believe the suit is more symbolic than substantial and will likely fade with a new FTC chair.