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Wall Street Braces as Tech Rout Deepens

US markets looked set for another turbulent session as futures for the S&P 500 and Nasdaq pointed lower, signaling continued pressure on the tech sector. A wave of selling has swept through major technology names this week, and Thursday’s pre‑market action suggested the downturn isn’t over yet. Alphabet remained a major drag after its sharp slide, with investors reacting to concerns about rising AI‑related spending and the uncertain payoff timeline. The pullback has added to broader anxiety across the sector, where valuations have been tested by shifting expectations around growth and profitability. Amazon now sits in the spotlight as traders await its upcoming earnings report. With sentiment already fragile, the company’s results could either steady the market or accelerate the sell‑off, depending on how its cloud and retail segments perform. Commodities also reflected the risk‑off mood. Silver prices tumbled, extending a recent decline and underscoring the cautious tone acros...
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Canadian Retail Sales Rebound in December, Boosting Consumer Confidence

 

Canadian consumers went on a holiday shopping spree at the end of last year, after reining in their spending just a month earlier. Receipts for retailers jumped 0.8% in December, the biggest increase since April. This followed a 0.2% decrease in November, which missed the median estimate of a flat reading in a Bloomberg survey. In volume terms, retail sales also edged down 0.2% that month. The early estimate for December suggests sales increased 0.8% that month, but warned the figure is subject to revision.

The rebound in retail sales in December is a positive sign for the Canadian economy. The holiday season is a crucial period for retailers, and the increase in sales indicates that consumer confidence is on the rise. The report also highlights that the pullback in November still highlights some spending weakness for consumers, who are facing higher interest rates and many of whom are due to renew their mortgages this year.


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