New rules for charitable giving, Black Friday weekend brings record shopping

Retail & Consumer Trends - The Thanksgiving weekend saw a record of nearly 203 million shoppers, up from 197 million last year, indicating strong consumer demand driven by promotional deals [3][4] - 54% of shoppers took advantage of early holiday sales, potentially impacting December sales due to front-loading [8] - Consumers have completed about 40% of their holiday shopping, leaving 53% of shopping for the holiday season [12] - Top purchased items include clothes, toys, and books, while gift cards are the most desired items [14] - American Eagle reported better-than-expected revenue with double-digit comparable sales increase and positive growth, raising its fourth-quarter operating income outlook [55][56] Economic Outlook & Market Analysis - The consumer is seen as sentimentally weak but fundamentally sound, with wages exceeding inflation for 30 straight months and low unemployment [16] - The US Dollar Index is being closely watched around its 50-day moving average, with potential implications for commodities, crypto, and stocks [24][27] - Bitcoin experienced a significant dip followed by a rebound, finding support around $85,000, but further washout is anticipated before a clear bullish trend [32] Charitable Giving & Tax Planning - New tax rules in 2026 will limit deductions for charitable giving to amounts exceeding 05%-1% of adjusted gross income [39] - Donor-advised funds are highlighted as a strategy to frontload giving and maximize tax deductions, especially beneficial for smaller donations [42][49] - Americans are generous, giving more than twice as much as a percentage of GDP compared to other countries [48] Technology & Software - Intel is up almost 85%, NXP up 8%, Texas Instruments up 4%, indicating the AI chip sector is still active [21][22] - GitLab's fourth-quarter sales forecast is weighing on the stock, despite adjusted earnings per share coming in at 25 cents versus estimates of 20 cents, and revenue beating analyst estimates coming in at $2444 million versus $2395 million estimated [57]