US stock futures rise ahead of Friday’s short-term trading session; Target (TGT), Kohl’s (KSS), and JCPenney (JCP) are just a few of the retailers trying to reach shoppers on Black Friday; Canada’s antitrust authorities are suing Google Alphabet (GOOGL) for alleged anti-competitive behavior in online advertising; Australia lifts world’s first ban on the exploitation of children under 16; at Disney’s (DIS) Moana 2 continues the company’s record Thanksgiving weekend. Here’s what investors need to know today.
1. US Stock Futures Edge Higher on Shortened Trading Day
U.S. stock futures rose after being closed Thursday for Thanksgiving. Trading will close early Friday, with the stock market closing at 1 p.m. 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 The Industrial Average closed 0.3% lower. after passing 45,000 points for the first time in the first trade. Futures for all three major indexes are around 0.2%-0.3%, while the yield on 10-year Treasurys is slightly lower at 4.224%.
2. Taylor Swift Merch, Snow Globes Among Retailers’ Black Friday Draws
Retailers are trying to get people in the door on Black Friday with special deals and offers. Target ( TGT ) is starting to sell books about Taylor Swift’s “Eras” tour in brick-and-mortar stores, as well as vinyl and CD versions of her last album, before offering them online a day later. Kohl’s ( KSS ) uses prizes that include Florida vacations. JCPenney (JCP) is giving the world snow. Retailers prefer in-store purchases to online providers because they tend to have high margins and low return rates, industry experts say, although those who -businesses spending this holiday season may increase 3% from last year, according to Bain & Co., as inflation suggests. and people’s bags.
3. Canada sued Google for anti-competitive online advertising practices
Canada’s antitrust watchdog is suing Google Alphabet ( GOOGL ) for alleged anti-competitive practices in its online advertising business, in the latest challenge to regulating technology rights. Canada’s competition agency said in a filing Thursday with the Competition Tribunal, where the case will be argued, that Google “is closing off market participants from using its own advertising tools,” and is pushing the company to sell two of its social media. tools. The United States Department of Justice (DOJ) said last week that Google should sell its Chrome browser, following an August court ruling that it holds illegal rights to search.
4. Australia passes ban on social media for children under 16
Australia has passed the world’s first ban on social media by children under the age of 16, with tough laws that could hurt platforms such as ByteDance’s TikTok, Snapchat parent Snap (SNAP), and Meta Platforms (META), the owner of Facebook and Instagram. . The social media system will be responsible for ensuring that children do not have accounts, while those found to be “systematic abuses” face fines of up to $49.5 million Australian dollars ($32.2 million), the government said. Parents and their children will not be punished. The ban will take at least 12 months to take effect.
5. Disney’s ‘Moana 2’ breaks Thanksgiving Weekend Box Office Record
Disney’s (DIS) Moana 2 continues to top the weekend box office record. The film made $57.5 million through Wednesday, including Tuesday’s premiere, and went on to earn a record $175+ for five days through Sunday, Due date reported. Moana 2Universal Pictures’ Bad behaviorand Paramount Pictures’ Gladiator II helped the entire title generate $92.2 million Wednesday, the film’s second-highest grossing day of the year, the publication said.
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