TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Monday, December 4th.
Full Video Transcript Below:
J.D. DURKIN: I’m J.D. Durkin - reporting from the New York Stock Exchange.
Stocks were in the red to close out today's session. The Dow closed X, the Nasdaq closed X, and the S&P closed X after five straight weeks of gains. This comes as investors start to doubt the prospect of an interest rate cut after Jerome Powell said it was too premature to consider. Investors will be looking ahead to Friday’s jobs report for a better sense of the central bank’s path forward in 2024.
In other news - after spending record amounts on Black Friday and Cyber Monday, Giving Tuesday wasn’t as popular. Giving Tuesday was started in 2012 as a way to encourage giving back and helping others. It falls annually on the first Tuesday after Thanksgiving.
This year, Americans donated $3.1 billion - which is a 0.6 percent increase from 2022. However, only 34 million participated in the charitable holiday. And while that might seem like a lot of people, it’s a 10 percent drop from last year.
Of the decrease, Giving Tuesday CEO Asha Curran said, “Our goal with Giving Tuesday, not just on the day itself but year-round, is to create an ecosystem of giving that helps communities, causes, and organizations across the globe. However, we are concerned to see a decline in participation in line with giving trends from the past year.”
To compare, more than 200 million Americans shopped during Thanksgiving weekend. And according to Adobe Analytics, shoppers spent $9.8 billion online for Black Friday and another $12.4 billion on Cyber Monday.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
