Morning Money Memo:

The biggest shopping weekend of the year was a bust for some retailers. Early discounting and more online shopping may have put a big dent Black Friday shopping. "Overall shopper traffic from Thanksgiving Day through Sunday dropped 5.2 percent from 2013," the National Retail Federation said in a statement. Total spending in stores and online is expected to have declined by about 11 percent. Such early numbers suggest that many retailers may be disappointed by the holiday shopping season. "It's going to be a dogfight for the entire season, every day, every minute," federation CEO Matthew Shay told The New York Times. "Holiday sales are now a marathon, not a sprint."

Black Friday promotions at Walmart and other big stores started weeks ago. Cyber Monday deals at Target, J.C. Penney, Staples and Old Navy also have been stretched out. Despite concerns about holiday sales, some brick-and-mortar retailers are reporting a strong increase in online sales. And TV sales are a bright spot with strong demand for the latest ultra high-def (4K) sets.

Tens of millions of Americans are expected to log on and go shopping today. Since 2010 Cyber Monday has been the busiest online shopping day of the year. Amazon has some of the deepest discounts. "There is anecdotal evidence the discounts Amazon is offering are extraordinary," 24/7wallst.com says.

Oil prices fell further on global markets, following last week's decision by OPEC to maintain production levels despite weaker global demand. The price of West Texas crude plunged 10 percent on Friday to well under $70 a barrel for the first time since 2010. Wholesale oil prices have plunged nearly 40 percent since June. While consumers benefit from lower home heating and gasoline prices, OPEC's stand is a blow to some high-cost U.S. producers that could become unprofitable and go out of business if oil prices stay this low.

Richard Davies Business Correspondent ABC News Radio abcnews.com Twitter: daviesnow