South African retail sales rise 2.9% year on year in October

The US House committee has approved a trade bill focused on Africa, although there was no mention of South Africa's exclusion from the African Growth and Opportunity Act (AGOA) during the discussions. This legislative move reflects ongoing efforts to enhance trade relations with African nations while navigating complex geopolitical dynamics.

Dageville, the founder of Snowflake, has sold $181,000 worth of SNOW stock, reflecting personal financial decisions amidst the company's fluctuating stock performance. This transaction was reported by Investing.com.

The United States is set to host a meeting of G20 officials without the participation of South Africa, following a series of tensions stemming from a previous G20 summit held in South Africa where the U.S. initiated a boycott under former President Donald Trump. This meeting highlights ongoing geopolitical dynamics and the shifting alliances within the G20 framework.

The federal budget deficit has narrowed, surpassing market forecasts, indicating improved fiscal management and economic conditions. This development suggests a positive shift in the government's financial health, which could influence future policy decisions.

US labor costs growth has slowed in the third quarter, with the employment cost index rising by only 0.8%, marking the slowest quarterly increase since mid-2021. This trend reflects a cautious approach by employers amid economic uncertainties, as they manage labor expenses while navigating the current market conditions.

Italian industrial output fell by 1.0% in October, a decline that was worse than analysts' expectations, indicating potential challenges within the manufacturing sector. This downturn raises concerns about the overall economic health of Italy as industrial output is a key indicator of economic performance.

Navitas Semiconductor's director has sold $462,500 worth of shares, a transaction reported by Investing.com. This sale reflects the director's financial decisions regarding their stake in the company, which specializes in semiconductor technology.

Stocks experienced a decline as investors adopted a cautious stance ahead of the Federal Reserve's forthcoming interest rate announcement, reflecting uncertainty in the market. This slip in stock prices comes amid rising yields and a slight uptick in the dollar's value.