TLDR

MARKET RECAP → Stocks climbed on Tuesday, wrapping up Christmas Eve with hopes of securing consecutive gains during the holiday week.

NORDSTROM TO GO PRIVATE IN $6.25 BILLION DEAL → Nordstrom is set to go private in a $6.25 billion deal with its founding family and Mexico’s El Puerto de Liverpool, giving shareholders $24.25 per share. 🛍️

BEHIND AMAZON’S QUIET LAUNCH OF HAUL → 🛍 Amazon's (AMZN) new budget platform, Haul, targets Temu and Shein with ultra-low prices, leveraging customs loopholes to avoid duties, despite ethical concerns, as demand surges for affordable goods.

BIG BANKS SUE FEDERAL RESERVE OVER STRESS TESTS → 📉 Major U.S. banks sued the Federal Reserve, claiming its opaque stress test process lacks transparency and public input, demanding reforms to ensure accountability.

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MARKETS

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Notable Earnings This Holiday SZN

TODAY’S TOP NEWS

Nordstrom to Go Private in $6.25 Billion Deal

🛍️ Nordstrom's Next Chapter: Nordstrom announced a $6.25 billion buyout deal with its founding family and Mexican retailer El Puerto de Liverpool. The Nordstrom family will hold a 50.1% stake, while Liverpool will own 49.9%, marking a significant transition to private ownership.

💰 Shareholders' Payday: Common shareholders will receive $24.25 in cash per share, a bump from the family’s earlier $23-per-share offer in September. The deal is expected to close in the first half of 2025, signaling a renewed focus on ensuring Nordstrom’s long-term success.

📉 Navigating Challenges: Despite beating Wall Street’s Q3 expectations, Nordstrom cited a cautious outlook due to soft holiday sales and pressure on luxury retailers. The deal offers an opportunity to adapt amid evolving consumer trends and tough competition from budget-conscious shoppers.

TODAY’S TOP NEWS

Behind Amazon’s Quiet Launch Of Haul

🛍 Competing in the Budget Market: Amazon (AMZN) launched Haul to compete in the ultra-low-price market, targeting Temu and Shein with a platform for goods priced under $20. Designed for bargain hunters, Haul encouraged bulk purchases with discounts and free shipping over $25, while accepting slower delivery times of 1-2 weeks to keep costs down.

🌏 Leveraging a Growth Loophole: Haul relied on China-based sellers and customs loopholes, leveraging the de minimis rule to avoid duties on imports under $800. This strategy mirrored competitors like Temu, fueling rapid growth despite mounting concerns over labor practices, environmental impact, and ethical sourcing.

🛒 Consumer Demand Drives Expansion: Consumer demand surged despite ethical concerns, as Haul sold out during Black Friday’s 50% off sale, showcasing shoppers' preference for low prices over corporate responsibility. Amazon plans to expand Haul’s offerings to hundreds of thousands of items, doubling down on the fast-growing budget retail market.

TODAY’S TOP NEWS

Big Banks Sue Federal Reserve Over Stress Tests

Legal Action Initiated: Major U.S. banks and business groups, including the Bank Policy Institute and the American Bankers Association, filed a lawsuit against the Federal Reserve, challenging the opacity of its annual stress tests.

Demand for Transparency: The plaintiffs argue that the Fed's confidential models and scenarios violate federal law by excluding public input, and they seek a more transparent and accountable process.

Fed's Response: The Federal Reserve announced plans to enhance transparency in its stress testing framework, including potential public commentary on models and scenarios, but the lawsuit proceeded to ensure timely reforms.

BULL VS. BEAR

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