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Photo: Matt Cardy/Getty Images

Americans spent $10.8 billion on Cyber Monday this year, making it the largest online shopping day in U.S. history, according to Adobe Analytics data reported by CNBC.

Why it matters: The surge in online shopping comes as the pandemic has accelerated the decline of Black Friday shopping at traditional brick-and-mortar stores, which saw in-store traffic plunge by roughly 50% compared with last year, according to data from RetailNext and Sensormatic Solutions.

By the numbers: Total Cyber Monday spending this year was up 15.1% from the $9.39 billion that consumers spent last year, but fell short of the $12.7 billion in spending Adobe forecast earlier in the year.

What to watch: Adobe is now forecasting consumers will spend $184 billion across the entire holiday season, a 30% increase from last year.

Go deeper

45 of 50 biggest U.S. companies turned profit since March

Drone shows cars lining up at Share Your Christmas food distribution event in Kissimmee, Fla. Photo: Paul Hennessy/SOPA Images/LightRocket via Getty Images

2020 has been an awesome year for Corporate America, but not so much for Working America.

The big picture: 45 of America’s 50 biggest publicly traded companies have turned profits since March, while nearly 8 million Americans have fallen into poverty since June, the WashPost reports in a pair of striking stories.

Stalemate over filibuster freezes Congress

Illustration: Sarah Grillo/Axios

Senate Majority Leader Chuck Schumer and Mitch McConnell's inability to quickly strike a deal on a power-sharing agreement in the new 50-50 Congress is slowing down everything from the confirmation of President Biden's nominees to Donald Trump's impeachment trial.

Why it matters: Whatever final stance Schumer takes on the stalemate, which largely comes down to Democrats wanting to use the legislative filibuster as leverage over Republicans, will be a signal of the level of hardball we should expect Democrats to play with Republicans in the new Senate.

Dave Lawler, author of World
2 hours ago - World

Biden opts for five-year extension of New START nuclear treaty with Russia

Putin at a military parade. Photo: Valya Egorshin/NurPhoto via Getty

President Biden will seek a five-year extension of the New START nuclear arms control pact with Russia before it expires on Feb. 5, senior officials told the Washington Post.

Why it matters: The 2010 treaty is the last remaining constraint on the arsenals of the world's two nuclear superpowers, limiting the number of deployed nuclear warheads and the bombers, missiles and submarines which can deliver them.