Bitcoin Hits $106K: Trump's Next Move Could Trigger $200K

This rally is no accident -- it's part of Trump's bold vision to make America the "Bitcoin Superpower." Central to Trump's plan is the creation of a National Bitcoin Reserve -- a move that could make the U.S. one of the largest Bitcoin buyers in history, creating massive upward pressure on Bitcoin's price.

Holiday shoppers increased spending by 3.8% despite higher prices

ANNE D'INNOCENZIO and HALELUYA HADERO
December 26, 2024

Sales rose this year during the holiday shopping season even as Americans wrestled with elevated prices for many groceries and other necessities, according to new data.

Holiday sales from the beginning of November through Christmas Eve climbed 3.8%, outpacing the 3.1% increase from a year earlier, according to Mastercard SpendingPulse, which tracks all kinds of payments including cash and debit cards. The last five days of the season accounted for 10% of the spending.

This year, retailers were even more under the gun to get shoppers in to buy early and in bulk since there were five fewer days between Thanksgiving and Christmas.

Michelle Meyer, chief economist at Mastercard Economics Institute, said the holiday shopping season "revealed a consumer who is willing and able to spend but driven by a search for value" as seen by concentrated online spending during the biggest promotional periods.

Sales growth was higher than the 3.2% increase Mastercard SpendingPulse had projected this fall. The data released Thursday excludes the automotive industry and is not adjusted for inflation.

Clothing sales rose 3.6%, with most of the growth being fueled by online shopping. Spending on restaurants, and sales of electronics and jewelry also grew. Online sales jumped 6.7% from a year ago and in-person spending rose 2.9%.

Consumer spending accounts for nearly 70% of U.S. economic activity and economists carefully monitor how Americans use their money, particularly during the holidays, to gauge how they're feeling financially.

The most recent government data on consumer spending, released on Dec. 17, showed shoppers stepped up activity at retail stores last month. But auto dealer sales drove most of those gains as huge storms created a need for new cars in parts of the southeast slammed by Hurricane Helene in October. Big discounts at many retail chains also attracted shoppers.

But the report also hinted at some consumer caution as sales at grocery stores, clothing shops, and restaurants fell. Outside of car dealers and online retailers, sales gains were modest.

Retailers felt more pressure this year due to the shorter holiday shopping period, and also from a presidential election that captured the attention of many consumers. Sales of general merchandise slid 9% in the two weeks ended Nov. 9, according to Circana, a market research group. Sales have been rebounding but stores will have to make up for those losses.

A broader picture of how Americans are spending their money arrives next month when the National Retail Federation, the nation's largest retail trade group, releases its combined two-month statistics based on November-December sales figures from the Commerce Department.

The group expects that shoppers will have made $979.5 billion to $989 billion worth of purchases in November and December, which would represent a 2.5%-3.5% increase over the same two-month period a year ago. That would be a slower rate than the 3.9% increase from holiday 2023 over holiday 2022 season.

Overall, retailers had a decent start to the unofficial kickoff to the holiday shopping period despite lots of discounts that started as early as October.

Continue Reading...

Popular

Man Who Predicted Trump's Win: "Do This Before January 20th" - Ad

According to legendary investor Louis Navellier, who correctly predicted Trump's win... This Trump inauguration move could be the difference between accelerating your retirement in the first 100 days of his administration...OR losing a big chunk of your retirement.

Trump Treasury Nominee Pledges To Maintain Dollar's Global Reserve Status, Outlines Vision For 'New Economic Golden Age'

Scott Bessent, Trump's Treasury Secretary nominee, pledged to uphold the dollar's reserve currency status, emphasizing productive investment, supply chain security, and strategic sanctions to bolster U.S. economic dominance.

Poland's leader accuses Russia of planning acts of terror against 'airlines over the world'

WARSAW, Poland (AP) — Polish Prime Minister Donald Tusk accused Russia on Wednesday of planning acts of sabotage worldwide that included “acts of air terror” against airlines.

New AI Giant Trading up to 84% Less than Big Tech Stocks -- Set to Soar in 2025? - Ad

THIS is the single biggest money-making idea of my 43 years in the stock market.... And according to my calculations it could generate a fortune for fast-moving investors, who make their move before March 19. The problem is 99% of Americans have no idea this trade even exists. And that's good news for you... Because today you can get started with as little as $50!

How TikTok grew from a fun app for teens into a potential national security threat

SAN FRANCISCO (AP) — If it feels like TikTok has been around forever, that's probably because it has, at least if you're measuring via internet time. What's now in question is whether it will be around much longer and, if so, in what form?

As Tesla Soars 8%, Gary Black Cites Trump Impact, Elon Musk Pay Package, And $30K Car As Key Catalysts For EV Maker In 2025

Tesla Inc. shares climbed more than 8% Wednesday amid optimistic forecasts from prominent investor Gary Black, who cited multiple growth catalysts for the electric vehicle maker in 2025.

My TOP Altcoin for Right Now Is... - Ad

Searching for the top investment opportunity in crypto? Look no further. Our $3 report gives you the full scoop. You'll get this exciting token's name, our recommended investment strategy, and growth projections. Time is of the essence with this one...

Two private lunar landers head toward the moon in a roundabout journey

CAPE CANAVERAL, Fla. (AP) — In a two-for-one moonshot, SpaceX launched a pair of lunar landers Wednesday for U.S. and looking to jumpstart business on .

Bitcoin ETFs Outperform In First Year, But Solana, XRP ETFs Face Challenges, Expert Says

Bloomberg Intelligence analyst James Seyffart has reflected on the remarkable success of spot Bitcoin (CRYPTO: BTC) ETFs and the potential problems in altcoin ET

Warren Buffett's Investing Partner's Shocking Final Move - Ad

Before he passed away, Charlie Munger, Warren Buffett's investing partner of 60 years, was rumored to have quietly made one final investment... Up until now, it has remained hidden from the public. It's potentially the smartest, most profitable, and most under-valued AI investment you can make today.

Biden warns the US risks becoming an 'oligarchy.' What does the term mean?

WASHINGTON (AP) — President in his Wednesday farewell speech to the nation warned that American democracy was sliding into an “oligarchy” of tech billionaires. But what exactly is an oligarchy?

How much is TikTok worth and who could buy it?

NEW YORK (AP) — The supremely popular TikTok could be banned on Jan. 19 under a federal law that forces the video sharing platform to divest itself from its China-based parent company, ByteDance, or shut down its U.S. operations.

Bill Gates Is Betting Big on This New Technology - Ad

Bill Gates is betting the house on a new tech bound to make investors millions. He says the potential uses for it are "almost limitless." And he believes it is so revolutionary that soon we'll see one in every home. This is tech's next megatrend.

Mexico and EU revamp trade agreement days before Trump takes office with threat of tariffs

MEXICO CITY (AP) — Mexico and the European Union on Friday announced a revamped trade agreement that they said would substantially increase trade and investment, days before the inauguration of U.S. President-elect Donald Trump, who on Mexico and other trading partners.

Stocks Fail To Rise Despite Benign Producer Inflation, 30-Year Treasury Yields Hit 5%, Ely Lilly Tumbles: What's Driving Markets Tuesday?

A cooler-than-expected December producer inflation report failed to ignite lasting gains on Wall Street Tuesday, reflecting lingering concerns about persistently high inflation among investors.

Urgent: Buy This Before Bitcoin Hits $125,000 - Ad

Discover the $25 Bitcoin secret that could turn into a fortune soon. Historically, this secret investment soared by 6,865%, surpassing Bitcoin's own performance. This has nothing to do with buying Bitcoin or any Bitcoin ETFs... You can easily access this secret investment through your standard brokerage account.

Get Your Financial Strategy in Place for 2025 - Ad

There's still time to make smart financial moves as we enter a new year. Work with Datalign Advisory, a trusted partner who can help you optimize your plans and start 2025 on the right foot.

Why Barrick Gold Stock Is Moving

Barrick Gold shares are trading higher by 1.4% during Friday's session. Mining stocks are rising, likely in sympathy with Rio Tinto and Glencore's potential merger talks.

Collect Passive AI Income Every 90 Days - Ad

Tech giants like Amazon, Google, and OpenAI are paying BILLIONS to access this critical AI tech.

Why did 87 miners die trapped underground in South Africa as police tried to force their surrender?

CAPE TOWN, South Africa (AP) — South Africa's president is facing calls to order an inquiry into a police operation that was meant to combat illegal mining but ended up as authorities attempted to force them to surrender during a monthslong standoff.

Hundreds ordered to evacuate as fire erupts at huge California battery storage plant

MOSS LANDING, Calif. (AP) — Hundreds of people were ordered to evacuate and part of Highway 1 in Northern California was closed when a major fire erupted Thursday afternoon at one of the world's largest battery storage plants.

The Brand New Tech Creating Millionaires (Buy These Four Stocks) - Ad

A new technology is taking the world by storm, transforming lives, and making early investors incredibly rich. In the following video, I'll show you four stocks with absolutely explosive upside potential and the ability to turn every dollar you invest into life-changing returns.

Head of US cybersecurity agency says she hopes it keeps up election work under Trump

NEW YORK (AP) — Jen Easterly, the outgoing head of the U.S. government’s Cybersecurity and Infrastructure Security Agency, said Wednesday she hopes her agency is allowed to continue its under new leadership despite “contentiousness” around that part of its mission.

270x More Lucrative Than NVIDIA? - Ad

If you've missed out on NVIDIA's recent 1,600% run... Don't worry. Because there's one AI stock that could be a lot more lucrative. It's currently trading for only $20.

Dating Coach Shares Why She Walked Away From a Deal With Mark Cuban

The CEO of online dating coaching company Dating by Blaine has detailed why she declined an offer from billionaire Mark Cuban after initially accepting the deal on "Shark Tank."

Stock market today: Asian stocks follow Wall Street's retreat, oil prices surge

HONG KONG (AP) — Asian stocks retreated on Monday after U.S. stocks fell as raised inflation worries.

The No. 1 Stock for Trump's Second Term? - Ad

Legendary investor Louis Navellier's stock rating system gave a buy rating to ALL of the top 30 performing stocks in the S&P 500 index of Trump's first term... ALL of them! His system is now rating these stocks as a "BUY" for Trump's second term.

Bird flu found in a Georgia commercial flock for the 1st time amid the nationwide outbreak

ATLANTA (AP) — For the first time since the 2022 countrywide outbreak, bird flu hit a poultry producer in Georgia, the nation's top state for chicken production.

Italy rail asks authorities to investigate outages behind train delays

ROME (AP) — Italy’s national railroad filed a formal complaint with law enforcement authorities Wednesday alleging that power outages up and down the peninsula that have caused days of train delays were suspicious.

Retirement Planning for 2025 -- Act Now! - Ad

Make sure your retirement strategy is in place before 2025 rolls in. Let Datalign Advisory help you take charge of your financial future and get your ducks in a row before the year's end.

Emporio Armani collection seduces with textures, softness at Milan Fashion Week

MILAN (AP) — Giorgio Armani kept his youth game sharp with an Emporio Armani menswear collection presented during Milan Fashion Week on Saturday that was all about texture and glistening surfaces.

Cannabis Legalization Headed For The Ballot Again In Florida: Advocates Launch New Amendment Initiative

Group behind failed attempt to legalize recreational cannabis in FL has launched new initiative for 2026 ballot. Allows adult use with limits and restrictions.

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

South Korean President Yoon Suk Yeol Arrested -- KOSPI Edges Higher Despite Political Upheaval, Won Stable

South Korean markets showed resilience Wednesday as President Yoon Suk Yeol was taken into custody, with the benchmark KOSPI rising 0.40% to 2,507.35 amid heightened political uncertainty.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service