Record Black Friday Spending and Stock Market Gains Amid Economic Uncertainties

As consumers turn to Buy Now Pay Later options and companies like Shein and Binance face significant changes, the economic landscape continues to evolve.

Black Friday saw a record $9.8 billion spent online, a 7.5% increase from 2022, with in-store traffic also up 2.1%.
Buy Now Pay Later (BNPL) financing saw a 72% increase in the week leading up to and including Black Friday, indicating potential financial strain on consumers.
Major stock indexes are on track for November to be one of the best months of the decade, with the S&P 500, Dow Jones Industrial Average and Nasdaq Composite all posting large gains.
Fast fashion company Shein has confidentially filed to go public on the U.S. market, targeting a $90 billion valuation.
Cryptocurrency exchange Binance and its CEO pleaded guilty to charges including anti-money laundering and sanctions violations, agreeing to pay a $4.3 billion fine.