With online spending on Black Friday rising by 21.6% to $9 billion this year, Cyber Monday has been projected to be the biggest online shopping day to date. With sales estimates being projected to be anywhere between $10.8 billion and $12.7 billion, the NYSE has seen some major movements as a result.
After Wall Street logged record highs thanks to optimism surrounding the pending release of coronavirus vaccines, most future stocks incurred a slight decline on Monday. S&P 500 futures fell by 18 points while Nasdaq futures declined by four points. Those futures that had been linked to the Dow Jones Industrial Average fell by a staggering 212 points.
Shifting the focus to the emphatic business deals that have taken place over Cyber Monday, S&P Global reached a $44 billion deal to acquire fellow financial data provider IHS Markit. The deal, which was the largest of its kind in 2020, saw IHS Markit shares rise by 5.37% to $97.55. In contrast, S&P Global shares dropped by 1.63% to $336.
Another company that experienced a busy Cyber Monday was electric vehicle manufacturer Tesla. This is partially because it began to sell its Model Y sport utility vehicle in China, after receiving approval from the Chinese government.
