Iconic sporting goods, sneaker retailer closing stores

U.S. consumer confidence has taken a sharp turn as the holiday season approaches, with expectations of increased spending on gifts during the weeks between Thanksgiving and Christmas. After a slow start to the year, the U.S. GDP has shown recovery, posting nearly 4% growth in two consecutive quarters following a contraction earlier in the year.

In 2025, a popular mall and strip mall chain quietly closed 443 locations, reflecting significant challenges in the retail sector. This decision comes amidst a broader trend of store closures across various industries, indicating a shift in consumer behavior and market dynamics.

The stock market experienced a surprising uptick during a holiday week, resulting in weekly gains across major indices, with the S&P 500 closing just 1% shy of its 52-week high. Eli Lilly maintained a market capitalization of $1 trillion, reflecting strong investor confidence.

Apple has reported its strongest fiscal year to date, achieving a record net income of $112 billion and quarterly revenue of $102.5 billion, surpassing Wall Street expectations. However, this success is overshadowed by disappointing early sales of the iPhone Air, which has not resonated with consumers as anticipated.

T-Mobile has announced a decision that will make it more difficult for customers to contact customer service, leading to significant dissatisfaction among its user base. This change has sparked anger among customers who rely on accessible support for their telecommunications needs.

Palantir Technologies is making strides in its artificial intelligence (AI) platform, aiming to demonstrate that it is a viable solution for corporations and governments, not just a showcase. Recent quarterly results indicate a surge in interest and demand for its offerings, suggesting that the company is gaining traction in the competitive AI market.

Gold prices have recently retreated below $4,000 per ounce after reaching all-time highs near $4,400, raising questions about the sustainability of the current rally. This decline has sparked discussions among investors regarding the future trajectory of gold prices as they stabilize in early November.

JPMorgan has revised its forecast regarding the Federal Reserve's interest rate policy, now predicting a 0.25 percentage-point cut to be implemented on December 10, contrary to its previous stance that suggested a wait until January. This shift indicates a significant change in the bank's outlook on economic conditions.