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The coronavirus pandemic has sent many consumers to purchase items online, so it's no surprise this year's spending on Thanksgiving, Black Friday, and Cyber Monday were record-high e-commerce shopping days.According to Adobe Analytics data, shoppers spent .8 billion, making it the highest-grossing Cyber Monday ever. Last year, consumers spent .4 billion.Adobe projected consumers to spend .7 billion this year on Cyber Monday in its early holiday spending forecast.On Cyber Monday, Adobe said the number of orders picked up curbside was up 30% from a year ago, as consumers shopped safely during the pandemic.Many people also used their smartphones to avoid crowds at brick and mortar during the pandemic. Adobe added that purchases made on mobile devices made up 37% of the digital sales on Cyber Monday.Analysts said from 7 p.m. to 11 p.m. Pacific time, customers spent .7 billion, or million per minute, that accounted for 25% of the day's revenue.Adobe said the items most consumers purchased were Lego sets, vTech-brand toys, scooters, video games, Apple AirPods and Watches, HP and Dell computers, as well as Chromecast.According to Adobe, consumers spent billion on Black Friday, making it the third-highest online spending day in U.S. history. In 2019, online sales hit .4 billion.Customers also set records for online shopping on Thanksgiving Day, Adobe said, with shoppers spending .1 billion. 1434
The ceasefire between the United States and China has set off a huge celebration on Wall Street.The Dow soared about 400 points at Monday's opening bell after China and the United States reached a temporary trade truce. It's a big relief because the damaging trade war between the world's two largest economies was set to deepen in January.The Nasdaq and the S&P 500 climbed more than 1% apiece."A truce is definitely better than an escalation of hostilities," Kit Juckes, strategist at Societe Generale, wrote to clients on Monday.Juckes said that even though investors may doubt the substance of the US-China agreement, "this morning's response reflects relief and a desire to pick up some last-ditch bargains."The relief rally comes after the S&P 500 spiked nearly 5% last week, its best since December 2011. That rebound was triggered by hopes of progress on the trade front and a speech by Federal Reserve chief Jerome Powell that investors interpreted as a signal the central bank will not rush to raise interest rates."The China trade situation is the keystone in the arch of agita," said Sam Stovall, chief investment strategist at CFRA Research.The progress on talks with China means "now we have a very good chance of experiencing a Santa Claus rally," said Sam Stovall, chief investment strategist at CFRA Research.It wasn't just US markets celebrating. Major indexes in Hong Kong and Shanghai surged more than 2.5%. And markets in London, Frankfurt and Paris climbed 2%. Commodities also raced higher. Copper and soybeans rallied. US oil prices, boosted by hopes of an agreement by Russia and Saudi Arabia to cut output, surged 4%.After meeting on Saturday, US President Donald Trump and Chinese President Xi Jinping agreed to hold their fire on tariffs while they try to reach a trade deal. Trump agreed not to raise the 10% tariffs on 0 billion worth of Chinese goods for now. Those tariffs had been scheduled to automatically rise to 25% on January 1. And China said it would be willing to purchase a "very substantial" amount of agriculture, energy and other US products.Still, some analysts warned that the celebration on Wall Street could be short-lived. China and the United States now only have 90 days to sort out nagging trade issues that have been in contention for years, if not decades. And the statements that emerged from the trade meeting lacked concrete details."The beefiest part of Saturday evening's meeting between Presidents Trump and Xi may well have been the local sirloin served for dinner," Nicholas Colas, co-founder of DataTrek Research, wrote to clients on Monday.Goldman Sachs economists said the most likely outcomes are that the truce gets extended after 90 days or that the trade war escalates. The investment bank sees just a 20% chance over the next three months of a comprehensive deal rolling back tariffs."The specter of higher and broader US tariffs remains," Goldman Sachs chief US political economist Alec Phillips wrote to clients on Sunday. 3014
The four former police officers who were involved in an arrest that led to the death of George Floyd will asked a judge Friday that their cases be tried separately.In a hearing scheduled on Friday local time in Minneapolis, attorneys for Derek Chauvin, J. Alexander Kueng, Thomas Lane and Tou Thao asked Judge Peter Cahill that it will be "impossible" to evaluate each individuals' actions "in a vacuum," according to the Associated Press.According to the Minneapolis Star-Tribune, prosecutors opposed the requests, noting that witnesses and Floyd's family members are likely to be "traumatized" by multiple trials. They also argued that the "interests of justice" necessitate a single trial."Here, all four Defendants worked together to murder Floyd: Chauvin, Kueng, and Lane pinned Floyd face-down, while Thao stopped the crowd from intervening, enabling the other Defendants to maintain their positions. Defendants also discussed and coordinated their actions throughout the incident," prosecutors wrote in a court filing, according to The Associated Press.The Associated Press also reports that the request by the defendants indicates that the officers will seek to blame each other for Floyd's death. Attorneys for Lane and Kueng have already claimed that because their clients were rookies at the time, they were following the lead of Chauvin.The Star-Tribune also reports that the officers' attorneys sought a change of venue for the trial. Among their concerns about holding the trial in Minneapolis is a "tainted" jury pool.Judge Cahill took all of the defense's requests under advisement, according to ABC News. He did grant their request that four attorneys for the prosecution be dismissed from the case.Cahill said Hennepin County Attorney Mike Freeman and the three other attorneys should be dismissed from the case because they discussed autopsy results with the medical examiner, according to ABC.Defense attorneys have also filed a motion to dismiss the case, but the Star-Tribune reports that the judge is unlikely to discuss that motion Friday.Chauvin has been charged with second-degree unintentional murder, third-degree murder and second-degree manslaughter. The other three officers are charged with aiding and abetting murder and manslaughter.A trial date has been set for March 2021.Floyd died as officers attempted to arrest him for allegedly using counterfeit bills to buy tobacco on Memorial Day weekend. Bystander video showed Chavin kneeling on Floyd's neck for more than eight minutes as Floyd cried for help. All four officers were fired in the days following Floyd's death.Floyd's death sparked a massive wave of protests against police brutality and systemic racism across the country. 2727
The Dalai Lama has a new fan. And so does Aaron Rodgers. Each other.The Green Bay Packers' all-world quarterback is on a world trip taking him to India, where he met the Tibetan buddhist leader and gave him an NFL football and a Green Bay Packers hat.Rodgers and his beloved, Danica Patrick, are traveling to India to help with the Starkey Hearing Foundation, according to the Green Bay Press-Gazette. They will be giving hearing aids to some people who may be hearing for the first time.Rodgers has undergone a long spiritual journey beyond his time as a quarterback with the Packers. He often expressed his Christian faith during his rookie year in 2005, won the Bart Starr award which reflects on that belief. Yet he talked in 2016 about his spirituality, not necessarily believing God has one team he roots for over another, and the specifics of his purpose on earth. 879
The go-to comfort food for Americans during the COVID-19 pandemic appears to be chocolate. Sales of chocolate have been on the rise since mid-March.During the second quarter of 2020, roughly March through June, people bought .7B worth of chocolate. That’s a 6.3 percent increase from the same time period last year, according to Nielsen.Mars Wrigley, which owns brands like M&M’s and Snickers, told CNN online sales have been stronger in recent months.Research firm NPD recently said Americans were increasing their snacking while stay-at-home orders were in place.During the first few weeks of April, between meal snacking was up 4 percent, according to NPD’s research. They also found 37 percent of consumers were stocking up on salty snacks and frozen treats. 776