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The U.S. Stock Futures are on the rise before Friday’s shortened session. Target (TGT), Kohl’s(KSS), JCPenney(JCP), are among the many retailers hoping to attract shoppers for Black Friday. Canada’s Antitrust Regulator is suing Alphabet’s Google’s (GOOGL), over alleged conduct anti-competitive in online advertising. Australia has passed the first ever ban on children’s social media usage under the age of 16. And Disney’s Moana What investors should know about today.
1. US Stock Futures Rise on Shortened Trading Day
After being closed on Thursday, U.S. stocks futures have been moving higher. The stock market will close at 1 pm on Friday. ET and the bond market at 2 p.m. On Wednesday, the S&P 500 and Nasdaq declined 0.4% and 0.6%, respectively, while the Dow Jones Industrial Average closed 0.3% lower after surpassing 45,000 points for the first time in early trading. Futures on all three major indexes rose by 0.2%-0.3%. Meanwhile, the yield of 10-year Treasurys has fallen slightly to 4.224%.
2. Taylor Swift Merch, Snow Globes Among Retailers' Black Friday Draws
Exclusive deals and giveaways are being offered by retailers to entice people into their stores on Black Friday. Target’s (TGT) new book about Taylor Swift is now available. “Eras” The tour will be available in physical stores alongside vinyl and CD copies of her previous album. They’ll then go online the next day. Kohl’s is hosting a sweepstakes where prizes include a Florida trip. JCPenney is giving away snow globes. Retailers prefer in-store purchases to those online because they tend to have higher margins and lower return rates, industry experts said, although consumer spending this holiday season may only raise 3% from last year, according to Bain & Co., as inflation weighs on people’s wallets.
3. Canada Sues Google Over Alleged Anticompetitive Ad Conduct Online
Canada’s antitrust authority is suing Alphabet Google (GOOGL) for alleged conduct anti-competitive in its advertising online business. It’s the latest legal challenge against the dominance of the tech giant. In a Thursday notice filed with the Competition Tribunal where the case is to be heard, Canada’s Competition Bureau stated that Google was not a party in the dispute. “locks market participants into using its own ad tech tools,” And is pressing the company to divest two of its tools for ad technology. Last week, the U.S. Department of Justice said that Google’s Chrome browser should be sold off following a court decision in August that found it to have an illegal search monopoly.
4. Australia passes social media ban for kids under 16
Australia’s new law prohibits children younger than 16 from using social media. The strict legislation could harm platforms such As ByteDance TikTok (owned by Snap), Snap parent Snap (SNAP), Meta Platforms Meta (META), which owns Facebook and Instragram. The social media sites will be responsible for ensuring that children do not have an account. Those who are guilty of this can expect to face serious consequences. “systemic breaches” The government has announced that parents and their children will not face fines. The government will not fine parents or their children. At least one year will pass before the ban comes into force.
5. Disney's 'Moana 2' Heads Toward Thanksgiving Weekend Box Office Record
Disney’s (DIS) Moana 2 is heading toward a Thanksgiving weekend box office record. The movie made $57.5 million by Wednesday, including Tuesday’s preview showings, and appears headed toward grossing a record $175+ million for the five-day stretch through Sunday, Deadline reported. Moana 2, Wicked by Universal Pictures, and Gladiator II from Paramount Pictures helped to generate $92.2 millions. Wednesday, the second-highest-grossing moviegoing day of the year, the publication said.
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