Prime timeThe macro economy can be highlighted by many micro-events, and one of them is on tap over the next 48 hours. Strong spending is likely to be driven by steeper discounts, which could range as high as 22%. The shopping holiday is anticipated to generate strong back-to-school spending online this year, due in part to the slightly later date on the calendar for Amazon Prime Day. Looking ahead, Adobe even sees $229B worth of online spending in Q3 (+7.2% Y/Y), on top of the $503B (+7.4%) spent by U.S. consumers in the first six months of 2024. While the U.S. does not have such measures in place, California recently passed a bill mandating passive speed limiters.

Source: Wall Street Journal July 16, 2024 19:21 UTC