Record Black Friday sales

The markets traded mixed during the midday with the Dow gaining 28 points to 23,586. Nasdaq slipped 4 points to 6,884.


Black Friday sales set a new record with shoppers spending approximately $5.03 billion to mark the traditional start of the holiday shopping season. Online sales surged on Thanksgiving by 18.3% to approximately $2.87 billion as more consumers opt to shop from home rather than compete with other bargain hunters at brick and mortar stores. Analysts expect a record $6.6 billion in sales on Cyber Monday.


YouTube has lost a number of major advertisers whose ads were placed with exploitive and inappropriate content. M&Ms and Snickers maker Mars, Oreos maker Mondelez and German grocery store Lidl all suspended their ad campaigns. The inappropriate videos of young children wearing skimpy outfits or in baths attracted comments from pedophiles.


Dutch-British consumer goods company Unilever will acquire Sundial Brands for an undisclosed sum. The skincare products company based in New York that was founded by Liberian immigrants 26 years ago expects to report $240 million in revenue this year. Sundial founder Richelieu Dennis will continue to lead the company as a standalone unit under Unilever.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 held steady at 2,602. Bitcoin soared $289 to $9,529.


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