Bitcoin falls, Trump says he knows who the next Fed chair will be, Cyber Monday expectations

Retail Sector - Black Friday retail sales reached a record $11.8 billion in online spending, an increase of 11.8% year-over-year, with expectations for Cyber Monday to surpass this figure at $14.2 billion [2][4] - Macy's is expected to report a quarterly loss of 14 cents per share, a significant decline of 450% compared to the previous year [4] - Analysts are optimistic about retail performance, noting a potential shift in consumer spending dynamics and the impact of credit card debt on future sales [16][19] Technology Sector - Salesforce is set to announce its Q3 results, with expectations of solid growth and steady demand, although profitability may see only minor changes [6] - The acquisition of Informatica is projected to boost Salesforce's revenue by approximately $1.7 billion over the next year, but increased spending on AI products may affect profit margins [7] - Crowdstrike's Q3 results are anticipated to benefit from heightened demand for cybersecurity products due to rising global threat incidents [5] Cryptocurrency Market - Bitcoin has experienced a significant decline, trading below $87,000, with a drop of over 5% recently, reflecting a broader risk-off sentiment among investors [9][10] - The slowdown in inflows into Bitcoin exchange-traded funds and a downgrade of the USDT stablecoin's stability rating have contributed to the negative sentiment in the crypto market [10][11] - The People's Bank of China's warning about the risks associated with virtual currencies has further exacerbated the selloff in cryptocurrencies [11] Economic Indicators - The Fed's preferred inflation gauge, the Personal Consumption Expenditures (PCE), is expected to remain steady at 0.3% for total PCE and 2% for core PCE on a month-over-month basis [8] - Auto sales data for November is anticipated to show a slight increase to 15.4 million, indicating stable consumer demand for new vehicles [8] Market Outlook - Predictions for the S&P 500 in 2026 range from 7,500 to 8,000 points, with expectations of robust earnings and growing valuations, although concerns about inflation and the job market persist [53][55] - The healthcare sector is seeing increased inflows as investors shift away from large-cap tech, with strong performance noted in drug and medical device companies [40][41]