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Markets Rebound as U.S. Ceasefire Proposal to Iran Sparks Investor Optimism

  U.S. stock futures surged early Wednesday as reports of a U.S.-backed ceasefire proposal to Iran boosted market sentiment and pushed oil prices sharply lower. Investors reacted positively to signs of potential de‑escalation in the Middle East, lifting Dow, S&P 500, and Nasdaq futures after a volatile week. U.S. stock futures climbed on Wednesday following reports that Washington sent Iran a 15‑point ceasefire plan aimed at halting the ongoing conflict in the Middle East. The development injected cautious optimism into global markets, which have been rattled by geopolitical tensions in recent weeks.  Futures tied to the Dow Jones Industrial Average and S&P 500 rose around 1% , while Nasdaq 100 futures jumped more than 1% , reversing some of the previous session’s losses. The shift in sentiment was amplified by a sharp retreat in oil prices— WTI crude fell over 5% , easing inflation concerns and improving the outlook for corporate margins.  The reported ceasef...
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Holiday spending outlook bleak for retailers amid consumer fatigue

 

The upcoming holiday season may not be very merry for Canadian retailers, as many consumers are planning to cut back on their spending amid rising inflation, supply chain disruptions and pandemic fatigue. 

According to a recent survey by Deloitte, only 38% of Canadians expect to spend more or the same amount as last year on holiday gifts, down from 54% in 2020. The average planned spending per household is also expected to drop by 13% to $1,405, the lowest level since 2015. The survey found that consumers are feeling the pinch of higher prices, lower savings and reduced disposable income, as well as concerns about the health and economic impacts of the COVID-19 variants. As a result, many shoppers are looking for ways to save money, such as buying fewer and cheaper gifts, using loyalty points or coupons, or opting for homemade or experiential gifts instead of physical ones. 

Retailers are also facing challenges from the global supply chain crisis, which has caused delays, shortages and higher costs for many products. Some retailers have warned that they may not be able to meet the demand for popular items, especially electronics, toys and clothing. Others have started their holiday promotions earlier than usual to encourage consumers to shop early and avoid disappointment. 

Deloitte's report suggests that retailers need to adapt to the changing consumer preferences and behaviours, and offer more value, convenience and flexibility to attract and retain customers. This may include providing more online and omnichannel options, offering free or fast shipping and returns, enhancing customer service and loyalty programs, and creating a safe and festive in-store environment.

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