U.S. online spending on Black Friday hits record high; focus on personal consumption data this week | 28th Financial Tankan

11/28 (Tuesday) morning market trends (compared to the previous day)

Traditional finance US stocks mixed

• NY Dow: 35,333 -0.1%
• Nasdaq: 14,241 -0.07%
• Nikkei average: 33,447 -0.5%
• USD/JPY: 148.6 -0.5%
• NVIDIA: 482.4 +0.9%
• Microsoft: 378.6 +0.3% (new high price)
• Amazon: 147.7 +0.6%

black friday sales

Last week, online spending by US consumers on Black Friday, the day after US Thanksgiving, hit a record high of $9.8 billion (approximately $9.1 billion last year), with online sales increasing 7.5% year-on-year. Data reported to Adobe Analytics. This year, the inflation rate has declined, showing signs of recovery from last year’s high inflation.

The biggest discounts were seen in clothing, home-related products, and beauty products.

connection:Virtual currency Bitcoin briefly reaches $38,000 level, Coinbase stock price returns to May 2022 level | 25th Financial Tankan

This week’s main market factors are as follows:.

• US bonds rise (yield falls) as US interest rate hikes are expected to end
• Amazon drives the rise in retail stocks during “Cyber ​​Monday” (online mail order sale) after Black Friday
• The yen temporarily appreciated by 0.6% against the dollar, falling to 148.55 yen.

This week, market participants will be focusing on the October Personal Consumption Expenditure (PCE deflator), which is scheduled to be released on Thursday, and will have an impact on the year-end sales performance in the United States. The PCE deflator is an indicator that the US Federal Reserve considers more important than the CPI.

Important economic indicators/events from this week onwards

• 11/29 (Wednesday) 22:30 Revised quarterly real GDP for the July-September period in the US
• 11/30 (Thu) 22:30 US October personal consumption expenditure (PCE deflator)
• 12/6 (Wednesday) 22:15 US November ADP employment statistics
• 12/8 (Friday) 22:15 U.S. November unemployment rate
• 12/12 (Tue) 22:30 U.S. November Consumer Price Index (CPI)
• 12/14 (Thu) 4:00 US FOMC policy rate announcement

connection: Stock investment recommended for virtual currency investors, “10 representative virtual currency stocks in Japan and the United States”

Cryptocurrency-related stocks Coinbase continues to grow

• Coinbase｜$119.7 (+3.6%)
• MicroStrategy | $495.3 (-4.7%)
• Marathon | $11.2 (-1.1%)

connection: 83.6% of Bitcoin supply is unrealized gain, the highest level since November 2021, when it hit a record high

Virtual currency market

• Bitcoin: $37,120 -0.7%
• Ethereum: $2,024 -1.9%

connection: “Possibility of year-end rise in virtual currency market” Matrixport report

CoinPost Special feature for virtual currency beginners

CoinPost official app (1.7.15) has been released on iOS and Android
・iOS17 compatible
・Improved display of in-app WebView
・Improved behavior when tapping notifications
Such… pic.twitter.com/Y8dikLRBe7

— CoinPost (virtual currency media) (@coin_post) November 15, 2023

The post U.S. online spending on Black Friday hits record high; focus on personal consumption data this week | 28th Financial Tankan appeared first on Our Bitcoin News.