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Shares in Europe and Asia advanced on Wednesday after benchmarks on Wall Street surged on hopes the Federal Reserve will soon opt to cut interest rates.The future for the S&P 500 gained 0.3%, while that for the Dow Jones Industrial Average was up 0.2%.In early European trading, Germany’s DAX gained 0.2% to 23,500.98, while the CAC 40 in Paris also rose 0.2%, to 9,623.22. Britain’s FTSE 100 edged 0.1% higher.In Asia, Tokyo’s Nikkei 225 rose 1.9% to 49,559.07 in a broad rally that encompassed major exporters and technology shares. However, shares in Kioxia dropped 14.9% on reports that Bain Capital plans to sell $2.3 billion of the computer memory maker’s shares.In South Korea, the Kospi gained 2.7%, to 3,960.87, helped by a 3.5% gain for Samsung Electronics, the market’s biggest heavyweight. Computer chip maker SK Hynix climbed 1%.Taiwan’s Taiex surged 1.9%.Chinese markets were mixed.Hong Kong’s Hang Seng rose 0.1% to 25,928.08 and the Shanghai Composite index slipped 0.2%, to 3,864.18.Chinese e-commerce and technology giant Alibaba fell 1.9%. Its U.S.-traded shares fell 2.3% on Tuesday after its profit fell short of forecasts, though it reported stronger revenue than analysts had expected for the latest quarter.Australia’s S&P/ASX 200 climbed 0.8% to 8,606.50. In New Zealand, the S&P/NZX 50 added 0.6% after the central bank cut its official cash rate to 2.25% from $2.5%.U.S. markets will have a shortened trading week due to the Thanksgiving holiday, closing on Thursday and opening for shorter hours on Friday.On Tuesday, the S&P 500 rose 0.9% and the Dow Jones Industrial Average rallied 1.4%. The Nasdaq composite gained 0.7%.Easier interest rates can give particularly big boosts to smaller companies, because many of them need to borrow to grow. The Russell 2000 index of the smallest U.S. stocks jumped 2.1% to lead the market.Mixed economic data left traders betting on a nearly 83% probability that the Fed will cut in December, according to data from CME Group.Shoppers bought less at U.S. retailers in September than economists expected, while confidence among U.S. consumers worsened by more in November than expected, signals the economy could use help from lower interest rates.Easier rates can boost the economy by encouraging households and companies to borrow more and investors to pay higher prices for investments than they would otherwise.Another report said U.S. inflation at the wholesale level was a touch worse in September than expected, but a closely tracked underlying trend was slightly better. Lower interest rates can worsen inflation, and higher prices are the main reason the Fed has been holding back on rate cuts.Later Wednesday, the U.S. was due to release more data that had been delayed by the six-week long government shutdown.The Fed has already cut rates twice this year in hopes of shoring up the slowing job market.In other dealings early Wednesday, U.S. benchmark crude oil gained 5 cents to $58.00 per barrel. Brent crude, the international standard, picked up 8 cents to $61.88 per barrel.The U.S. dollar rose to 156.46 Japanese yen from 156.06 yen. The euro rose to $1.1575 from $1.1569. Elaine Kurtenbach, AP Business Writer
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E-Commerce
Since 2019, Abercrombie & Fitch Co. has undergone a resurrection from discarded early-2000s mall brand to a sought-after brand for millennials and older Gen Zs. Abercrombie reported $1.29 billion in revenue for quarter three, up 7% year-over-year. The Tuesday, November 25 earnings report is the twelfth in a row with consecutive growth between quarters. The company also beat Wall Streets predicted $1.28 billion in revenue and reached earnings per share of $2.36 earnings, rather than the estimated $2.16, according to consensus estimates cited by CNBC. Abercrombies shares (NYSE:ANF) closed up more than 37% on Tuesday, though the stock is still down 39.63% from the start of 2025. Notably, the most recent growth of Abercrombie (the company) hasnt been fueled by Abercrombie (the brand). This quarter saw the retail stores net sales sink 2% year-over-year to $617.35 milliona 7% decrease in comparable sales. Its an improvement from quarters one and two, during which the brand also saw declines in net sales: a 4% reduction year-over-year to $547.95 million in quarter one and a 5% drop year-over-year to $551,868 in quarter two. Instead, it was another brand beloved by millennials as teens that has held up the once logo-tee-and-low-rise-jean-adorned fort. Abercrombie-owned Hollister reported $673.27 million in net sales for the most recent quarter. This figure represents a 16% increase year-over-year and a 15% jump in comparable sales. Hollisters success left the company with a 7% improvement in net sales year-over-year. Hollister has maintained significant positive growth, reporting 19% and 22% increases in net sales year-over-year during quarters one and two, respectively. In an earnings call for quarter two, CEO Fran Horowitz attributed the Abercrombie brands decline to marking down and selling old inventory. This time around, Horowitz appeared happy enough to have made progress, stating, Abercrombie brands made sequential progress in-line with our expectations, and we are tightly managing inventory as we aim for fourth quarter brand net sales to be approximately flat to last years record. Abercrombie expects a 6% to 7% growth overall for net sales in fiscal 2025, remaining confident it will reach a new record high.
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E-Commerce
The Thanksgiving travel period is in full swing. Today is the last day before Thanksgiving, which means millions of Americans will be taking to the skies to reach their holiday destinations. And myriad more will also be traveling to airports to pick up their incoming loved ones. But on one of the busiest travel days of the year, flight delays and cancellations are inevitable. Here are some tools to track delays, along with information on which airports are currently experiencing the worst delays and cancellations. FAA says this is the busiest Thanksgiving travel period in 15 years Earlier this week, Fast Company reported on the American Automobile Association (AAA)’s latest data, which revealed that this Thanksgiving travel period will be the busiest in six years. The AAA defines the 2025 Thanksgiving travel period as running from Tuesday, November 25, to Monday, December 1. During that time, the AAA says 81.83 million Americans will be traveling by road, air, or other means, including 6.07 million by plane. The Federal Aviation Administration (FAA) has released its own estimation, which largely concurs with the AAAs data. Last Friday, the FAA announced that this Thanksgiving travel period will be the busiest in 15 years. The agency says that more than 360,000 flights will take place during the period, shuffling travelers to and from their Thanksgiving destinations. (Its worth noting that the FAAs Thanksgiving period differs slightly from the AAAs period. The FAA says the Thanksgiving period runs from Monday, November 24, to Tuesday, December 2.) The FAA has also forecast the number of flights in the air for each day over the period, including: Monday, November 24: 48,173 Tuesday, November 25: 52,185 Wednesday, November 26: 50,130 Thursday, November 27 (Thanksgiving): 25,611 Friday, November 28: 41,560 Saturday, November 29: 46,288 Sunday, November 30: 51,268 Monday, December 1: 49,676 Tuesday, December 2: 47,423 The more flights scheduled, the greater the chance of delays and cancellations. This map reveals which airports currently have the most delays and cancellations Delays and cancellations happen for several reasons. According to the FAA, the top five causes of delays in the National Airspace System (NAS) include: Weather (which causes about 62.6% of all delay minutes) Volume (13.5%) Runway (8.3%) Equipment (1%) Other/Staffing (14.6%) In other words, even if it’s sunny and clear skies in the departure or arrival destinations, the sheer volume of scheduled flights, runway availability, equipment issues, and staffing issues can still cause delays. If you have to make a trip to the airport today for any reason, it’s a good idea to keep an eye on where delays are occurring, as they can not only cause flights to depart later than scheduled but also lead to increased crowds in terminals and parking lots. FlightAware.com offers an interactive map, aptly named the Misery Map, which shows the current delays at some of Americas busiest airports. As of the time of this writing, the Misery Map shows that between 10 a.m. and 2 p.m. today, 63 flights are currently delayed and three have been canceled (keep in mind, this information is updated regularly). The Misery Map shows that the highest number of delays during that time period is at Dallas Fort Worth International Airport (DFW), where nine delays are currently listed. Ronald Reagan Washington National Airport (DCA) currently has the next-most delays, at eight. All three presently listed cancellations for the period are from flights at MinneapolisSaint Paul International Airport (MSP). For the day, FlightAwares expanded data currently shows 549 delays for U.S. flights, as well as 25 cancellations. If you do need to head to the airport today, whether to catch a flight or pick someone up, the best practice is to track the relevant flights information directly in the airlines app or on its website, and to contact the airline directly if you have any concerns about delays or cancellations.
Category:
E-Commerce
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