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Wall Street Climbs as S&P 500 and Nasdaq Hit Fresh Records

U.S. stocks edged higher on Thursday, extending a bullish streak that pushed both the S&P 500 and Nasdaq Composite to new closing highs . The S&P 500 rose 0.3% to finish at 6,280.46, while the Nasdaq added 0.2%, marking its second consecutive all-time high. The rally was fueled by strong corporate earnings and optimism around trade negotiations. Delta Air Lines surged 12%  after posting upbeat quarterly results and restoring its earnings outlook, sparking a broader rally in airline stocks. United Airlines and American Airlines climbed 14.3% and 13.9%, respectively. Tech enthusiasm remained strong, with Nvidia closing above a $4 trillion market cap , becoming the first public company to cross that threshold. Bitcoin also joined the rally, breaking past $113,000 amid renewed investor appetite for risk assets. Despite fresh tariff threats from President Trump—including a proposed 50% levy on Brazilian imports—markets shrugged off geopolitical concerns. Investors instead focuse...
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Black Friday shoppers pulling back on spending

 

 According to a survey by the National Retail Federation, Black Friday sales in the U.S. dropped by 28% compared to 2019, as shoppers avoided crowded stores and opted for online shopping instead.

Here ate the main reasons cited for this trend:

  • Online shopping surge: Online sales on Black Friday reached a record $9 billion, up 21.6% from last year, according to Adobe Analytics. Cyber Monday is expected to be the biggest online shopping day in U.S. history, with sales projected to reach $10.8 billion.
  • Pandemic impact: The coronavirus pandemic has changed consumer behavior and preferences, as people seek convenience, safety, and value. Many retailers have extended their sales period and offered curbside pickup or free delivery options to attract customers.
  • Holiday season outlook: Despite the lower turnout on Black Friday, the NRF predicts that overall holiday sales will increase by 3.6% to 5.2% over 2019, reaching between $755.3 billion and $766.7 billion. However, the uncertainty around the pandemic and the economy could affect consumer confidence and spending.
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