Economic Data and Market Reactions - Weaker-than-expected U.S. economic data has increased expectations for a Federal Reserve interest rate cut next month, positively impacting global equities as the Thanksgiving holiday approaches [1] - U.S. retail sales rose by 0.2% in September, falling short of the 0.4% forecast by economists, following a 0.6% gain in August [6] - The Conference Board's consumer confidence index dropped to 88.7, marking the lowest level since April, indicating weakening consumer sentiment [6] UK Budget and Political Context - British finance minister Rachel Reeves is expected to announce significant tax increases in her budget, which is critical for her credibility with bond investors and lawmakers [3] - The Labour government's unpopularity may present challenges for Reeves as she navigates the budget announcement [5] Market Trends and Sector Performance - U.S. tech companies' share of S&P 500 earnings has been declining, raising concerns about the disconnect between their stock prices and underlying profit trends, despite their market value remaining high [4]

President Trump said he is stopping trade negotiations with Canada because of its digital-services tax on U.S. tech companies. Photo: Joe Raedle/Getty Images ...