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Wall Street Futures Rise Ahead of Thanksgiving Holiday

  US stock futures edged higher on Wednesday as investors looked to extend the market’s recent rally into the Thanksgiving holiday. Dow Jones Industrial Average futures gained 0.2%, S&P 500 futures rose 0.2%, and Nasdaq 100 futures climbed 0.3% . The move follows a strong session on Tuesday, when the Dow surged more than 660 points (1.4%) , marking its third consecutive day of gains. Tech stocks continued to drive momentum, with Alphabet closing at record highs after reports that Meta may adopt Google’s TPU chips in the coming years. Meanwhile, Nvidia shares slipped over 2.5% as competition in the AI chip space intensified. Investors are also keeping a close eye on the Federal Reserve. Markets are currently pricing in an 85% probability of a quarter-point rate cut in December , which has helped bolster optimism. Lower Treasury yields and easing inflation pressures have further supported the bullish sentiment. Through the first two trading days of this holiday-shortened we...
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Boxing Day Sales See Smaller Crowds Despite GST Break

 

Retailers across the country experienced smaller crowds and cautious spending on Boxing Day this year, despite the federal government's GST holiday. While the tax break, which makes a variety of items GST-free for two months, did attract some shoppers, many consumers remained hesitant due to ongoing cost of living concerns.

Shoppers at Fairview Mall in Toronto, like Nakul Singal, took advantage of the deals but expressed that the tax break alone wasn't enough to offset the high costs of living**. Singal mentioned, "It's good to shop around during this time, but we're still struggling with expenses, especially housing.

Retail Council of Canada's Matt Poirier noted that businesses faced challenges implementing the tax break on short notice, and some older payment systems struggled to adapt.  An RBC Economics report also indicated that retail spending slowed in November, with holiday spending slightly below 2023 levels over the Black Friday weekend.

Despite these challenges, some retailers, like GameStop in north Toronto, saw an influx of customers eager to benefit from the tax holiday. Assistant store manager Joey Comia-Orellano said, "We've been getting shoppers before Boxing Day, and we expect it to get busier as consumers look to save with Boxing Day deals combined with the tax break."

Overall, while the GST break provided some relief, it wasn't enough to fully counteract the economic pressures faced by many Canadians.




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