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AI Anxiety and Metal Mayhem Shake U.S. Markets

U.S. stock futures stumbled as renewed doubts about the sustainability of the artificial‑intelligence boom rippled through financial markets. Tech-heavy benchmarks led the decline, with Nasdaq futures sliding and the S&P 500 also moving lower as investors reassessed whether AI-linked valuations have run too far, too fast. The unease wasn’t limited to equities. Precious metals experienced dramatic intraday swings, with gold and silver both whipsawing after a period of rapid gains. Traders pointed to shifting expectations around interest rates and safe‑haven demand as key drivers behind the volatility. The combination of tech-sector skepticism and commodity turbulence has created a tense backdrop for markets. While some investors see the pullback as a healthy reset, others worry it may signal deeper concerns about the durability of the recent rally. Markets now look ahead to upcoming economic data and corporate earnings for clearer direction.
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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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