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AP

A decade ago, Cyber Monday was embraced by online retailers as a strategy to capture the business of shoppers who were using their office broadband to catch up on holiday shopping after Thanksgiving break.

  • But what started as a way to attract the attention of small segment of shoppers has turned into a Frankenstein's monster that eclipses even Black Friday in terms of total sales and has strained the websites and logistics networks of some of America's biggest retailers, Bloomberg reports.

Why it matters: It's cheaper for retailers to spread out extra holiday traffic evenly throughout the prime holiday shopping season, so retailers like Amazon, Walmart, and Best Buy have already initiated steep discounts on popular items, hoping to avoid surges in traffic that caused trouble for websites of Target, Macy's and Gap in 2015 and 2016.

Go deeper

Civil rights leader and Bill Clinton adviser Vernon Jordan dies at 85

Vernon Jordan. Photo: Andy Kropa/Getty Images

Vernon Jordan, the Civil Rights Movement pioneer who served as a close adviser to former President Clinton, died on Monday evening, CNN reports. He was 85.

Why it matters: The former National Urban League president was influential in American politics — from his service in President Lyndon B. Johnson’s civil rights conference to his position in leadership at the NAACP.

U.S. sanctions Russian officials over Navalny poisoning and detention

Pro-Navalny protesters in front of the Brandenburg Gate in Berlin. Photo: Omer Messinger/Getty Images

The U.S. will sanction 7 senior Russian officials over the poisoning and jailing of opposition leader Alexey Navalny, senior administration officials told reporters on Tuesday.

Why it matters: The sanctions represent the first penalties the U.S. has imposed on Kremlin-linked officials since President Biden took office and pledged to confront Russian aggression and human rights abuses.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Investors increase their exuberance

Illustration: Eniola Odetunde/Axios

U.S. stocks jumped across the board on Monday and the S&P 500 had its best day since June 5, as the bulls stepped in and bought the dips in stock prices following last week's minor selloff.

Why it matters: While some have worried rising U.S. interest rates would dampen investor exuberance over the expected pickup in economic growth thanks to increasing vaccine numbers and big fiscal spending hopes, Monday showed investors still like risk assets. A lot.