PURCHASE, N.Y.--(BUSINESS WIRE)--Dec 26, 2024--
According to preliminary insights from Mastercard SpendingPulse™, U.S. retail sales excluding automotive increased 3.8% year-over-year from November 1 through December 24. Mastercard SpendingPulse measures in-store and online retail sales, representing all payment types and is not adjusted for inflation.
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“The holiday shopping season revealed a consumer who is willing and able to spend but driven by a search for value as can be seen by concentrated e-commerce spending during the biggest promotional periods,” said Michelle Meyer, chief economist, Mastercard Economics Institute. “Solid spending during this holiday season underscores the strength we observed from the consumer all year, supported by the healthy labor market and household wealth gains.”
Key retail trends for the full holiday season included:
“This holiday season, we saw consumers motivated by deals and retailers respond with promotions to meet the demand,” said Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Incorporated. “The value-minded consumer showed up to shop at brick-and-mortar stores and e-commerce platforms, with retailers managing across both to capture attention throughout the season.”
*Excluding automotive
About Mastercard SpendingPulse
Mastercard SpendingPulse measures national retail sales based on aggregated and anonymized Mastercard insights, representing all payment types in select markets around the world.
Mastercard SpendingPulse defines “U.S. retail sales” as sales at retailers and food services merchants of all sizes. Sales activity within the services sector (for example, travel services such as airlines and lodging) are not included in the total retail sales figure. SpendingPulse insights are not indicative of Mastercard company performance; insights and forecast are subject to change.
Mastercard SpendingPulse U.S. Holiday Retail Sales November 1 - December 24, 2024 vs. 2023. (Graphic: Business Wire)
Iran and the United States received a draft proposal late Sunday calling for a 45-day ceasefire and the reopening of the Strait of Hormuz, two Mideast officials speaking condition of anonymity told The Associated Press.
The proposal comes from Egyptian, Pakistani and Turkish mediators hoping the 45-day window would provide enough time for talks to reach a permanent ceasefire. Iran and the U.S. have not responded to the proposal, which was sent to Iranian Foreign Minister Abbas Araghchi and U.S. Mideast envoy Steve Witkoff, the officials said.
The head of intelligence for Iran’s paramilitary Revolutionary Guard was killed Monday in an attack targeting him, Iranian state media said.
Strikes on cities across Iran have killed more than 25 people Sunday into Monday, while in Israel's Haifa two people were found dead and two others were missing in rubble a day after an Iranian attack.
U.S. President Donald Trump on Sunday stepped up his threat to hit Iran's critical infrastructure hard if the country's government doesn’t reopen the Strait of Hormuz by his Tuesday deadline.
Trump punctuated his threat with profanity in a social media post, saying Tuesday will be “Power Plant Day, and Bridge Day, all wrapped up in one, in Iran.”
The war began with joint U.S.-Israel strikes on Feb. 28 and has killed thousands, shaken global markets, cut off key shipping routes and spiked fuel prices. Both sides have threatened and hit civilian targets, bringing warnings of possible war crimes from the United Nations and international law experts.
Here is the latest:
An airstrike hit an information and communication technology building at Tehran’s Sharif University of Technology on Monday morning, according to Mohammed Vesal, an economics professor at the university.
Vesal, who spoke to a team from The Associated Press that had traveled to Iran from abroad to report there, said the attack disrupted online learning for the university.
All students have left the campus because of the war.
“All web services of the university are down now because of this violent attack on our infrastructure,” Vesal said. “This is a purely academic institution.”
Sharif University of Technology is considered Iran’s top engineering school.
Multiple countries over the years have sanctioned the university for its work with the military, particularly on Iran’s ballistic missile program, which is controlled by the country’s paramilitary Revolutionary Guard.
Israel claimed the killing of the intelligence chief of Iran’s Revolutionary Guard on Monday.
Defense Minister Israel Katz made the announcement.
“The Revolutionary Guard are shooting at civilians and we are eliminating the leaders of the terrorists,” Katz said. “Iran’s leaders live with a sense of being targeted. We will continue to hunt them down one by one.”
Katz added Israel had “severely damaged” Iran’s steel and petrochemical industries, as well.
“We will continue to crush the Iranian national infrastructure and lead to the erosion and collapse of the terrorist regime, and its capabilities to promote terror and fire at the state of Israel,” he said.
The head of intelligence for Iran’s paramilitary Revolutionary Guard was killed Monday in an attack targeting him, Iranian state media said.
Maj. Gen. Majid Khademi died in the attack, which the Guard blamed on the United States and Israel.
It did not elaborate on where Khademi was killed. However, multiple airstrikes targeted residential areas around Iran’s capital, Tehran, early Monday morning.
Khademi took over for Gen. Mohammad Kazemi, who Israel killed in the 12-day war in June.
The Guard’s intelligence organization wields vast powers within Iran and answers only to the country’s supreme leader. It often has been linked to the detention of Western nationals or those with ties abroad. It also has been accused of carrying out extraterritorial killings and attacks targeting opponents of the country’s theocracy.
Iran and the United States have received a draft proposal that calls for a 45-day ceasefire and the reopening of the Strait of Hormuz as a possible way to end the war, two Mideast officials told The Associated Press.
The proposal comes from Egyptian, Pakistani and Turkish mediators working to halt the fighting, according to two officials who spoke on condition of anonymity to discuss private negotiations.
They hope the 45-day window would provide enough time for extensive talks between the countries to reach a permanent ceasefire.
Iran and the U.S. have not responded to the proposal, which was sent late Sunday night to Iranian Foreign Minister Abbas Araghchi and U.S. Mideast envoy Steve Witkoff, the officials said.
It remains unclear whether the sides would agree to such terms. Iran has insisted it will keep fighting until it receives financial reparations and a promise it won’t be attacked again. U.S. President Donald Trump has threatened to bomb Iranian bridges and power stations this week.
The news website Axios first reported terms of the proposal.
An Iranian drone attack damaged a telecommunications building in Fujairah in the United Arab Emirates on Monday, the state-run WAM news agency reported.
The attack targeted a building of the state-funded du telecom company.
No one was injured, WAM reported, quoting officials in Fujairah.
South Korea’s National Intelligence Service says there are no signs North Korea is providing Iran with weapons or other war-related supplies.
The spy agency’s officials told lawmakers Monday that North Korea may be taking a cautious approach to preserve the possibility of dialogue with the Trump administration, according to two lawmakers who attended the closed-door briefing.
North Korea’s Foreign Ministry has condemned the U.S.-Israeli attacks on Iran as illegal, but the NIS said Pyongyang has not sent an official condolence message over the death of Ayatollah Ali Khamenei, Iran’s late supreme leader.
North Korean leader Kim Jong Un in recent years has embraced the idea of a “new Cold War” and attempted to expand cooperation with countries confronting the U.S., including an economic delegation sent to Iran in April 2024.
South Korea plans to send at least five ships to Saudi Arabia’s Yanbu port in the coming weeks to establish new oil transport routes in the Red Sea.
The Ministry of Trade, Industry and Resources said Monday the ships will be deployed in phases beginning in mid-April and the number of vessels could increase depending on contracts with Saudi partners.
Officials did not disclose the companies involved but said some domestic refiners may use non-Korean shipping firms.
South Korea also plans to send special envoys to Saudi Arabia, Oman and Algeria to step up diplomatic efforts to secure alternative fuel supplies, ruling party lawmaker Ahn Do-geol said.
The foreign ministry did not immediately reveal when the envoys would be sent.
Iran has executed another man convicted over charges stemming from the nationwide protests that swept Iran in January.
The judiciary’s Mizan news agency identified the man hanged as Ali Fahim in a report Monday.
It was unclear when he was executed.
Fahim had been convicted of allegedly storming a military base to seize weapons.
Amnesty International said Fahim and others convicted in the case “were subjected to torture and other ill-treatment in detention, including beatings, floggings, prolonged solitary confinement, and death threats at gunpoint before being convicted in grossly unfair trials that relied on forced ‘confessions’ extracted under torture and lasted only a few hours.”
The Human Rights Activist News Agency had said Fahim and others had entered a Tehran base of the all-volunteer Basij militia, an arm of the Revolutionary Guard, after it had been burned, then had been forced into confessions.
Israel rescue services reported Monday morning several sites were hit by missiles launched from Iran toward multiple cities in the center of Israel.
In Petah Tikva, paramedics provided medical treatment to an injured woman in serious condition with a chest injury from shrapnel and evacuated her to the Beilinson Hospital.
Fire fighters in that city are handling cars on fire and continue searching to ensure there are no people trapped in the rubble.
In Tel Aviv, a man slightly injured by glass shrapnel was evacuated to the Ichilov Hospital.
Footage provided by rescue service Magen David Adom shows damage to residential buildings due to the attack.
Meanwhile, Israel’s military warned the public Monday morning of another missile barrage coming from Iran, the fourth-such alert of the day.
Israel’s Magen David Adom and Fire and Rescue services said early Monday that there are several reported sites of Iranian missile hits in the northern city of Haifa.
In one site, four people were slightly injured, including two children.
The missile attacks hit residential areas and a factory in the city.
The factory was hit by shrapnel from an interception.
It is unclear if all the reported hits were caused by shrapnel from interception or direct hits.
Video footage provided by Magen David Adom of the affected sites show active fire and bombed cars in what appears to be a residential area.
The missile strikes come a day after another attack from Iran also hit a Haifa residential area, killing two people and injuring others.
Two other people remain missing under the rubble caused by Sunday's strike and their fate is still unknown.
In the United Arab Emirates’ capital of Abu Dhabi, authorities said a Ghanaian man suffered wounds from shrapnel after the interception of an Iranian missile over the city’s Musaffah neighborhood.
That’s near Al Dhafra Air Base, which hosts U.S. forces and has been repeatedly targeted by Iran in the war.
Women hold Iranian flags during a pro-government gathering in a square in Tehran, Iran, Sunday, April 5, 2026. (AP Photo/Francisco Seco)
A picture of the late Iranian Supreme Leader Ayatollah Ali Khamenei hangs on the side of the road in the outskirts of Tehran, Iran, early Sunday, April 5, 2026. (AP Photo/Francisco Seco)
Rescue workers search for victims at the site of an Israeli airstrike that hit a crowded neighbourhood south of Beirut, Lebanon, Sunday, April 5, 2026. (AP Photo/Hussein Malla)
A commercial plane is preparing to land at Beirut Airport as smoke rises from Israeli airstrikes in Dahiyeh, a southern suburb of Beirut, Lebanon, Sunday, April 5, 2026. (AP Photo/Emilio Morenatti)
Israeli security forces and rescue teams work amid the rubble of a residential building struck by an Iranian missile in Haifa, Israel, Sunday, April 5, 2026. (AP Photo/Ariel Schalit)
