Economic activity in the New Orleans area expanded moderately over the past six weeks. According to the Fed’s latest assessment of regional economies, the labor market remained tight and wage pressures intensified. Retail sales increased and leisure travel was strong, but hotel occupancy levels declined.
Exxon Mobil’s board is debating whether to continue with several major oil and gas projects as the company reconsiders its investment strategy in a fast-changing energy landscape. The company is facing pressure from investors to restrain fossil-fuel investment to limit carbon emissions.
Online holiday shopping sales are projected to increase 10% from a year ago to a record-breaking $207 billion. Adobe says Cyber Monday is expected to drive the biggest single-day profits of about $11.3 billion, a 4% increase from last year. Adobe estimates discounts will range from the 5% to 25% range across categories, down from the historical average of 10% to 30%.