Investing.com - As investors continue to worry about the effect of the global economic downturn on corporate earnings, Black Friday is becoming a gauge of household confidence in the economy.
Indeed, many businesses depend on the strong sales generated by these sales periods. This becomes even more crucial in a period of uncertainty due to the threat of inflation, aggressive monetary policies and the effects of the war in Ukraine.
The event did not disappoint, however, with online sales estimated at more than $9 billion in the U.S., an increase of 2.3% over last year.
These numbers give hope to stores and businesses with the holidays approaching and possibly new waves of sales, and contrast with forecasts that were somewhat gloomy.
Views now turn to Cyber Monday results that could confirm this trend and provide relief to the markets. Analysts are expecting more than $11B in sales, up 5.1% from the previous year's figures.
On the stock market side, S&P 500 remains under pressure as futures are showing a pre-opening decline. However, sectors that benefit from Black Friday and Cyber Monday sales could see gains.
It's Cyber Monday at Investing as well! Check out our great discount offers at InvestingPro now!
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.