AI-linked stocks rallied Wednesday, fueled by investor optimism that artificial intelligence will power earnings growth after Oracle Corp. (NYSE:ORCL) revealed a massive backlog of AI-related orders.
Labor market trends reveal cooling but not weakening in the labor market; the FOMC can provide a catalyst to reinvigorate hiring and consumer spending.
PwC’s survey indicates that overall spending will decrease by about 5% from last year, with Gen Z reducing their holiday budgets by nearly a quarter, while older shoppers plan to maintain their current spending levels or increase it.
Wall Street stumbled on Tuesday, with broad losses by midday in New York as investors turned risk-off amid mounting concerns over lofty valuations, seasonal headwinds and fiscal strains.
