Cyber Monday kicks off, stocks look to ride winning streak
11/27/2023 22:02
The strength of the US consumer is in focus once again, as retailers including Amazon (AMZN), Walmart (WMT), Best Buy (BBY), and more kick off their Cyber Monday sales. The big day comes after a busy Black Friday which saw US shoppers spend nearly $10 billion online according to Adobe Analytics. On Wall Street, investors are hoping to keep the winning streak alive following four straight weeks of gains for the major indices (^DJI, ^IXIC, ^GSPC). Yahoo Finance trending tickers include Snowflake (SNOW), Ulta Beauty (ULTA), and Shopify (SHOP).Key guests include:9:30 a.m. ET - Chris Versace, Tematica Research Chief Investment Officer10:15 a.m. ET - Daryl Fairweather, Redfin Chief Economist11:15 a.m. ET - Kathy Jones, Charles Schwab Chief Fixed Income Strategist
Reuters
Marketmind: Stocks stall after VIX hits pre-COVID low
Global markets took a sharp intake of breath on Monday after seeing Wall St's 'fear gauge' hit its lowest since before the pandemic hit late last week and as China major stock indexes continue to wane. Monday's stock opening looked to be in the red, however, with Asia and European bourses falling back.
Reuters
New crypto front emerges in Israel's militant financing fight
A new front has emerged in Israel's fight against the funding of Iran-backed militant groups from Hamas to Hezbollah: A fast-growing crypto network called Tron. Quicker and cheaper than its larger rival Bitcoin, Tron has overtaken its rival as a platform for crypto transfers associated with groups designated as terror organizations by Israel, the United States and other countries, according to interviews with seven financial crime experts and blockchain investigations specialists. A Reuters' analysis of crypto seizures announced by Israeli security services since 2021 reflects the trend, showing for the first time a sharp rise in the targeting of Tron wallets and a fall in Bitcoin wallet seizures.
Bloomberg
Billions Wiped Out as Stock-Safety Trade on Wall Street Misfires
(Bloomberg) -- Reeling from a bear market last year, beaten-up investors decided to send more than $60 billion to exchange-traded funds focusing on dividends.Most Read from BloombergRussia Downs Drones Over Moscow in Ukrainian Retaliatory StrikeMusk, Netanyahu Visit Massacre Site Amid Antisemitism FurorBillions Wiped Out as Stock-Safety Trade on Wall Street MisfiresSodium in Batteries: Shift May Herald Another ShakeupChina Says Multiple Pathogens Are Behind Spike in Respiratory IllnessesEleven m
Reuters
Volkswagen to reduce headcount at 'no longer competitive' VW brand
BERLIN (Reuters) -Volkswagen's 10 billion euro ($10.9 billion) savings programme will include staff reductions, managers told staff on Monday as brand chief Thomas Schaefer warned that high costs and low productivity were making its cars uncompetitive. The German carmaker is in the midst of negotiations with its works council over a cost-cutting scheme at its VW brand, the first step in a group-wide drive to boost efficiency in the transition to electric cars. "With many of our pre-existing structures, processes and high costs, we are no longer competitive as the Volkswagen brand," Schaefer told a staff meeting at the carmaker's headquarters in Wolfsburg, according to a post on the company's intranet site and seen by Reuters.
The Wall Street Journal
Stocks to Watch Monday: Crown Castle, Shopify, Nvidia
**↗️** [**Crown Castle (CCI)**](https://www.wsj.com/market-data/quotes/CCI): Activist Elliott Investment Management plans to push for change at the owner of wireless towers after amassing a stake of more than $2 billion, [The Wall Street Journal reported](https://www.