TLDR

MARKET RECAP → The Dow Jones (DIA) and S&P 500 (VOO) hit new highs Friday during a shortened trading day, closing out a strong month for equities.

RETAIL WINNERS AND LOSERS EMERGE → Walmart and Abercrombie shined while Target and Kohl’s struggled, as value-driven shoppers picked quality and utility over meaningless holiday splurges. 🎁

MUSK, RAMASWAMY PLAN CAPITOL HILL MEETING → 🚀 Elon Musk and Vivek Ramaswamy to discuss bold federal cuts with GOP leaders, but enacting changes faces steep congressional hurdles.

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Retail Winners And Losers Emerge

🛍️ Retail earnings revealed a divide: Target, Kohl's, and Best Buy disappointed, while Walmart, Abercrombie & Fitch, and Dick's Sporting Goods thrived on strategic sales.

💸 Inflation and cautious consumer spending forced shoppers to prioritize value, favoring retailers offering practical gifts and strong holiday assortments.

🎁 Successful retailers leaned on novelty and quality, while others risk overstocking unwanted items. The season highlights the importance of adapting to evolving spending habits.

TODAY’S TOP NEWS

Musk, Ramaswamy Plan Capitol Hill Meeting

🏛️ Elon Musk and Vivek Ramaswamy will meet with GOP leaders on Dec. 5 to present plans for major federal reforms, including slashing government spending, regulatory cuts, and agency closures, under the newly formed Department of Government Efficiency (DOGE).

🚀 Their ambitious agenda includes eliminating unauthorized expenditures, defunding specific organizations, and restructuring federal agencies like the Consumer Financial Protection Bureau, although most changes will require congressional approval.

🤔 With a narrowly divided Congress and widespread federal workforce implications, GOP leaders face significant challenges in enacting these proposals, even with Musk and Ramaswamy’s high-profile involvement.

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