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: Black Friday online spending reaches record levels, but Wall Street is not impressed

Online spending on Black Friday reached record levels, and Cyber Monday is expected to be the biggest online shopping day ever, as inflation-fatigued shoppers zero on in the biggest holiday discounts.

But even amid signs of better demand after two years of holiday-season disruptions, Wall Street’s reservations, particularly around physical stores, remain intact, and one analyst said it was wise to keep “muted expectations” for the period.

The…

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