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CME disruption, Black Friday, the K-beauty boom and more in Morning Squawk
CNBC· 2025-11-28 13:15
Market Overview - Stock futures trading was halted due to a data center cooling issue affecting several Chicago Mercantile Exchange services, but individual stocks continued trading before the bell [1] - The stock market has rebounded during a holiday-shortened trading week, yet the three major indexes are on track to end November in the red, with the Dow and S&P 500 set to snap six-month winning streaks, and the Nasdaq Composite facing its first negative month in eight [2] Retail Trends - Black Friday shopping has seen a shift, with online sales outpacing brick-and-mortar spending over the past six years, and in-person foot traffic remaining flat [5] - Deloitte reported that the average consumer is expected to spend $622 between November 27 and December 1, a decrease of 4% from last year, indicating a change in consumer sentiment towards holiday shopping [5] Technology Developments - Alphabet has seen a significant increase in its stock price, up nearly 70% this year, positioning it as a leader in the AI market, although experts caution that its lead may be marginal and difficult to maintain [6] - Alibaba has entered the smart glasses market with its AI-powered Quark AI Glasses, competing against major players like Meta, which recently launched its own smart glasses [8][9] - Counterpoint Research indicates that Apple is expected to ship more smartphones than Samsung for the first time in 14 years, driven by strong sales of the iPhone 17 [9] Beauty Industry Insights - U.S. sales of K-beauty products are projected to surge over 37% this year, exceeding $2 billion, as American consumers increasingly seek South Korean cosmetics [10] - Major retailers, including Ulta, Sephora, Walmart, and Costco, are capitalizing on the K-beauty trend, with Olive Young planning to open its first U.S. store in Los Angeles next year [11]