Business Lookahead: From budget blues to Black Friday
STORY: From Black Friday kicking off holiday shopping in the U.S., to Bitcoin's steep decline, these are the stories to watch in business and finance in the coming week. :: Shopping seasonFocus on U.S. consumer spending will come into view next week with Black Friday.The big start to holiday shopping season comes amid slumping consumer sentiment and stubborn inflation.But a solid few years for the U.S. stock market could be making particularly higher-income consumers feel wealthier and ready to shop.Tuesday's delayed release of September retail sales will also offer insight into consumer spending.:: The wait is over The budget wait is almost over in the UK but market volatility is likely not.Finance Minister Rachel Reeves is expected to seek tens of billions of pounds in new revenue to meet her fiscal targets in Wednesday’s budget.That leaves the Labour government walking a tightrope, as it tries to reassure bond markets that it can be fiscally prudent while also convincing voters it won’t break its pledge to not hike taxes.:: The Alibaba testAlibaba announces earnings on Tuesday.The stock has almost doubled this year as investors vie for a slice of the red-hot Chinese AI sector.But shares fell this month after the Financial Times reported that the company had been accused of providing tech support for Chinese military operations against targets in the U.S.Alibaba has denied the accusations.The company has since announced an aggressive push into consumer AI, but that market is increasingly crowded.:: Bitcoin's 'death cross' Bitcoin has lost roughly a third in value since early October's record high, as investors grow increasingly nervous of anything that has risen that much that quickly.The crypto market as a whole has lost over $1 trillion in value since Bitcoin's all-time high.Bitcoin is firmly below $90,000, and a so-called "death cross" has materialized on the charts this week - where the 50-day moving average crosses below the 200-day - often a sign of more losses ahead.
STORY: From Black Friday kicking off holiday shopping in the U.S., to Bitcoin's steep decline, these are the stories to watch in business and finance in the coming week. :: Shopping seasonFocus on U.S. consumer spending will come into view next week with Black Friday.The big start to holiday shopping season comes amid slumping consumer sentiment and stubborn inflation.But a solid few years for the U.S. stock market could be making particularly higher-income consumers feel wealthier and ready to shop.Tuesday's delayed release of September retail sales will also offer insight into consumer spending.:: The wait is over The budget wait is almost over in the UK but market volatility is likely not.Finance Minister Rachel Reeves is expected to seek tens of billions of pounds in new revenue to meet her fiscal targets in Wednesday’s budget.That leaves the Labour government walking a tightrope, as it tries to reassure bond markets that it can be fiscally prudent while also convincing voters it won’t break its pledge to not hike taxes.:: The Alibaba testAlibaba announces earnings on Tuesday.The stock has almost doubled this year as investors vie for a slice of the red-hot Chinese AI sector.But shares fell this month after the Financial Times reported that the company had been accused of providing tech support for Chinese military operations against targets in the U.S.Alibaba has denied the accusations.The company has since announced an aggressive push into consumer AI, but that market is increasingly crowded.:: Bitcoin's 'death cross' Bitcoin has lost roughly a third in value since early October's record high, as investors grow increasingly nervous of anything that has risen that much that quickly.The crypto market as a whole has lost over $1 trillion in value since Bitcoin's all-time high.Bitcoin is firmly below $90,000, and a so-called "death cross" has materialized on the charts this week - where the 50-day moving average crosses below the 200-day - often a sign of more losses ahead.
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