Squawk on the Street Bulls Rule in November, Black Friday Is Here, FTC vs. Microsoft 11/29/24
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Nov 29, 2024 November wraps up with a bullish stock market, sparking predictions for 2025. Live mall reports highlight shopping habits this Black Friday, showcasing Apple and Amazon's holiday strategies. The FTC's antitrust probe into Microsoft raises eyebrows, while President-elect Trump's tariff threats stir reactions. Chip equipment makers enjoy a rally as tech giants like Google face challenges. Small businesses contend with inflation during the crucial shopping season, showcasing the shifting economic landscape.
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Broadening Market Rally
- The current market rally is broadening beyond tech, benefiting small caps and cyclicals.
- Bond yields are lower than before the election, suggesting positive market sentiment toward the incoming administration's fiscal approach.
Black Friday Trends
- Consumers spent a record $6.1 billion online on Thanksgiving, with toys and electronics seeing the steepest discounts.
- Despite this, in-store shopping remains popular, with many seeking doorbuster deals and the traditional experience.
Microsoft Antitrust Probe
- The FTC is investigating Microsoft for potential antitrust violations, focusing on cloud services, AI, and bundling practices.
- The probe's future is uncertain under the incoming Trump administration.