Black Friday sales rose from last year, particularly in the e-commerce sector. According to Reuters:
Shoppers across the United States snapped up deep discounts on toys, clothing and electronics both online and at stores on Black Friday, giving retailers a strong start to their make-or-break holiday season.
A healthy economy and rising wages gave people the confidence to splash out on retailers’ annual raft of bargains
A new government report says climate change could sharply erode the U.S. economy. According to The Wall Street Journal:
The impact of global climate change is being felt across the country and, unchecked, could cause U.S. economic losses totaling hundreds of billions of dollars a year by the end of the century, says a new U.S. government report released Friday.
Many U.S. communities and companies are trying to counteract the effects of rising temperatures ranging from water shortages or flooding to worsening wildfires and air pollution. But those measures so far fall short, according to the latest installment of the U.S. National Climate Assessment.
Bitcoin prices were hit again during the Thanksgiving week. According to CNBC:
Bitcoin continued its move lower Friday, struggling to find footing after a week of pain for the world’s largest cryptocurrency.
The digital asset hit a low of $4,119 Friday, according to data from CoinDesk, bringing its seven-day losses to more than 25 percent. In dollar terms, bitcoin’s value dropped by about $1,400 over that time frame.
A major financial firm believes there are reasons the stock market will fall next year. According to CNBC:
There is a good chance stocks stall out next year as credit conditions tighten and earnings growth slows, according to Bank of America Merrill Lynch.
“We believe the peak in equities is likely before the end of 2019,” wrote Savita Subramanian, equity and quantitative strategist at Bank of America Merrill Lynch, in a note this week. She sees the S&P 500 rising slightly to 3,000 before the end of this year and then falling 3 percent in 2019 to 2,900.
The NFL games played on Thanksgiving posted strong ratings. According to CNN Business:
The NFL has a lot to be thankful for this year as ratings for all three of Thursday’s games experienced a boost in ratings compared to last Thanksgiving.
Overnight ratings for CBS’s early afternoon game between the Chicago Bears and the Detroit Lions were up 11% from the early game on Fox last year; Fox’s late afternoon game between the Dallas Cowboys and the Washington Redskins was up 14% from the afternoon game on CBS last year; and NBC’s prime time game between the New Orleans Saints and the Atlanta Falcons was up 18%.
Viewership for last Thanksgiving’s match-ups fell by a combined average of roughly 19% from the year before.