U.S. stock futures are cautiously optimistic after a Thanksgiving break. Trading wraps up early Friday, with the stock market closing at 1 p.m. ET and the bond market at 2 p.m. After a slight dip Wednesday, there’s a hopeful upward trend in futures for the major indexes. Retailers are gearing up for Black Friday with impressive deals. Let’s dive into the market trends and holiday excitement!
Thanksgiving Market Trends
Stock futures are showing a slight increase after the Thanksgiving holiday closure. The S&P 500 and Nasdaq saw a modest decline on Wednesday, while the Dow Jones Industrial Average fell slightly after crossing the 45,000-point mark. Overall, the markets seem to be holding steady going into the end of the week. The 10-year Treasury yield is down a bit at 4.224%.
Thanksgiving Holiday Deals: Retailers Aim to Win
Retailers are pulling out all the stops to attract shoppers during the Thanksgiving holiday. Target is offering pre-orders for Taylor Swift’s “Eras” tour book, vinyl, and CDs before they are sold online.
- Target: Pre-orders on Taylor Swift’s merchandise in brick-and-mortar stores
- Kohl’s: Sweepstakes with Florida vacation prizes
- JCPenney: Giving away snow globes
Interestingly, retailers are prioritizing in-store purchases this Thanksgiving. Experts suggest this is due to higher margins and lower return rates compared to online sales. However, consumer spending this holiday season is projected to only increase by 3% from last year, indicating that inflation is still affecting budgets.
Tech Giants Face Scrutiny
Canada’s antitrust regulator is suing Alphabet’s Google for alleged anti-competitive behavior in online advertising. Google is accused of forcing market participants to use their advertising technology tools. The Competition Bureau seeks Google to sell off some ad tech tools. Meanwhile, the U.S. Department of Justice is calling for Google to sell its Chrome browser, a decision coming from an August court ruling highlighting Google’s alleged search monopoly. These legal battles highlight ongoing concerns about tech giants’ dominance in digital markets.
Global Trends: Social Media Restrictions and Film Success
Australia is setting a precedent by becoming the first nation to ban social media usage for under-16s. This controversial measure aims to protect children from the potential harms of social media. Social media platforms will be obligated to ensure children do not have accounts and face significant fines for non-compliance. Disney’s “Moana 2” is performing exceptionally well, surpassing projected box office figures for the Thanksgiving weekend.
Box Office Bonanza for “Moana 2”
- Box Office Success: “Moana 2” is poised to set a new record for Thanksgiving weekend box office revenue.
- Strong Opening: The movie has already made $57.5 million by Wednesday, including preview showings.
- Projected Record: The film is expected to generate over $175 million in revenue during the five-day Thanksgiving weekend.
Overall, this Thanksgiving sees a mix of market trends, retail strategies, and global policy developments. Leave a comment below sharing your thoughts on these significant events and share this article with your friends! What are your predictions for the holiday season?
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