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Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
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Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
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Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
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China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
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Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
Oil Prices Rise as Geopolitical Tensions and Supply Risks Intensify 
Trump Administration Plans Major Rollback of Biden-Era Fuel Economy Standards 
U.S. consumers pushed online spending to new heights this Cyber Monday, generating more than $9.1 billion in sales by early evening, according to Adobe Analytics. The strong performance highlights how shoppers across income levels are navigating the 2024 holiday shopping season—wealthier consumers are splurging on big-ticket items, while budget-conscious households are strategically hunting for the steepest discounts.
Adobe, which analyzes over 1 trillion retail site visits, reported a 4.5% year-over-year increase in online spending by 6:30 p.m. ET (2330 GMT). With heavy traffic continuing into the night, the firm projects total Cyber Monday e-commerce sales to reach between $13.9 billion and $14.2 billion, marking a powerful finale to a busy Thanksgiving-to-Black-Friday shopping period.
Retailers across categories—including electronics, home goods, apparel, and toys—rolled out aggressive promotions to attract deal-seeking shoppers. Popular items such as smart TVs, laptops, gaming consoles, and home appliances saw some of the deepest price cuts of the season, contributing significantly to the surge in online cart activity. Many shoppers, especially those from lower-income households, leaned heavily on these limited-time discounts as inflation continues to shape purchasing behavior.
The rise in online spending also underscores the growing preference for digital shopping experiences. Convenience, wider product availability, and competitive pricing have made e-commerce a central driver of holiday sales growth. Analysts note that Cyber Monday remains a critical benchmark for retailers, often signaling consumer confidence ahead of the December shopping rush.
With U.S. shoppers demonstrating strong demand and retailers fine-tuning their digital strategies, this year’s Cyber Monday results reaffirm the enduring strength of online retail during the holiday season—and offer an optimistic outlook for the remainder of year-end sales.
