Join Chief Revenue Officer of Rakuten Rewards, Julie Van Ullen, as she discusses shifting consumer behaviors this Black Friday, highlighting the rise in essentials spending and the allure of cashback incentives. Clint Henderson, from The Points Guy, shares insights on travel trends and the nuances of airline loyalty programs, emphasizing strategic use of rewards. Jurrien Timmer, from Fidelity, offers his macroeconomic perspective on market trends amid today’s uncertainties, probing the implications of significant cash surpluses in the economy.

Subadra Rajappa, Societe Generale Head of US Rates Strategy, sees a recession in the first half of 2024. Tom Forte, DA Davidson Sr. Research Analyst, discusses Apple as Citi sees another 30% upside. Paul Donovan, UBS Global Wealth Management Chief Economist, says we're seeing disinflation. Max Kettner, HSBC Chief Multi-Asset Strategist, says he struggles to see a big downside surprise in earnings. Clint Henderson, The Points Guy Managing Editor, discusses airline delays persisting ahead of the holiday weekend. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.

Michael O'Rourke, an analyst at Jones Trading, advises caution when considering the S&P 500, highlighting the complexities of market dynamics. Clint Henderson from The Points Guy shares that travelers are venturing further and longer this holiday season, and he suggests seeking international travel deals. They also touch on changing behaviors in the real estate market and the potential impact of upcoming economic forecasts on consumer habits.