Black Friday shoppers in Belarus on Nov. 29. Photo: Natalia Fedosenko\TASS via Getty Images

Americans spent a record $7.4 billion in online purchases this Black Friday, AP reports.

The big picture: Strong consumer spending has largely acted as the U.S. economy's backbone for the past two quarters and most of 2018. October's Q4 retail sales figures indicated solid, albeit slightly cautious, consumers.

What's next: Adobe Analytics expects Cyber Monday's online sales to hit $9.4 billion and break another all-time record, per AP.

  • Meanwhile, brick-and-mortar retailers saw a 2.1% drop in traffic on Friday compared to last year, according to RetailNext.

Go deeper: Consumers are picking up the lagging business sector's slack

Go deeper

Transcripts show George Floyd told police "I can't breathe" over 20 times

Photo: Gary Coronado/Los Angeles Times via Getty Images

Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.

Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 11,921,616 — Total deaths: 546,318 — Total recoveries — 6,506,408Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 3,035,231 — Total deaths: 132,042 — Total recoveries: 936,476 — Total tested: 36,878,106Map.
  3. Public health: Deaths are rising in hotspots — Déjà vu sets in as testing issues rise and PPE dwindles.
  4. Travel: United warns employees it may furlough 45% of U.S. workforce How the pandemic changed mobility habits, by state.
  5. Education: New York City schools will not fully reopen in fallHarvard and MIT sue Trump administration over rule barring foreign students from online classes.
  6. 🎧 Podcast: A misinformation "infodemic" is here.
2 hours ago - Health

Fighting the coronavirus infodemic

Illustration: Sarah Grillo/Axios

An "infodemic" of misinformation and disinformation has helped cripple the response to the novel coronavirus.

Why it matters: High-powered social media accelerates the spread of lies and political polarization that motivates people to believe them. Unless the public health sphere can effectively counter misinformation, not even an effective vaccine may be enough to end the pandemic.