Late Rally Pushes Stocks Back Near Record High

Two retail chiefs are assessing the upcoming holiday shopping season, which is critical for their businesses amid economic uncertainties. They are focusing on consumer spending trends and the strategies needed to attract shoppers during this pivotal time.

U.S. Black Friday sales have shown resilience, with consumers spending significantly despite ongoing inflation and economic concerns, as evidenced by bustling shopping scenes outside major retailers like Macy's in Midtown Manhattan.

New York has enacted a law aimed at preventing retailers from exploiting consumers by using artificial intelligence and personal data to set higher prices. This legislation marks a significant move in the national effort to regulate the use of customer data by businesses, although it has faced criticism and legal challenges since its inception.

Airbus has ordered a software update for its A320 jets following an incident that revealed intense solar radiation could corrupt critical flight control data. This emergency fix comes at a peak travel time in the United States, highlighting the urgency of the situation.

Despite rising prices and a weakening job market, consumers are entering the holiday season with plans to spend significantly, indicating a resilient shopping sentiment. Retailers are preparing for an influx of shoppers looking for deals, particularly at stores like Walmart, which has raised its sales guidance in anticipation of price-conscious customers.

Prime Minister Mark Carney has reached a tentative agreement with Alberta to lift climate laws for the development of a new heavy oil pipeline, aimed at reducing Canada's economic reliance on the United States. This deal was announced during Carney's visit to Calgary, where he met with Premier Danielle Smith.