Fast-fashion chain closing 200 stores, ending physical brand

AARP has raised concerns about the long-term financial viability of Social Security, warning that retirees could face a 23% reduction in monthly payments within the next decade if no action is taken. This alarm comes amid ongoing discussions about the sustainability of the Old-Age and Survivors Insurance trust fund, which is projected to face significant funding challenges without congressional intervention.

Amazon is facing a growing boycott from consumers as the holiday season approaches, reflecting rising discontent over pricing and service issues. This situation poses a significant threat to the company's holiday sales, which are crucial for its annual performance.

A 65-year-old rival to Home Depot has permanently closed its business, reflecting the ongoing struggles within the home improvement and hardware retail sector, which has seen a wave of closures this year. Industry experts predict that this trend will continue through 2025, driven by reduced growth and lower sales projections in the market.

The Federal Reserve is facing significant internal divisions as it approaches its December meeting, where a decision on a potential interest rate cut for the third time this year is expected. Policymakers are split on how to address a weakening labor market while managing rising inflation, leading to uncertainty about the central bank's direction.

Artificial intelligence (AI) is increasingly becoming a part of everyday business and life, as highlighted by a report from the Reuters Institute for the Study of Journalism at Oxford University. This report indicates a significant shift towards mainstream AI adoption, moving beyond the hype that has surrounded the technology for years.

The Federal Reserve is expected to cut interest rates soon, which could lead to a significant rally in the bond market, providing opportunities for investors to reposition their portfolios. This anticipated move is seen as a response to current economic conditions and aims to stimulate growth.

The Bureau of Labor Statistics released the September jobs report, revealing that the U.S. added 119,000 jobs, surpassing expectations, while the unemployment rate rose to 4.4%. This report was delayed by 48 days due to a government shutdown lasting 43 days. The labor participation rate stands at 62.4%, indicating a slight increase in job engagement despite the rising unemployment figures.

Bernstein has raised its price target for Eli Lilly's stock to $1,300 from $1,100, marking an 18% increase and suggesting a potential upside of 21% to 22% based on current prices. This adjustment reflects ongoing confidence in the company's growth trajectory, particularly in the weight-loss drug market.