Wealth effect fuelling US consumer spending
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
US STOCKS rose last week as retailers revelled in the magic of the holiday season.
Stocks are likely to rise to new records this week, as long as congressional tax negotiators and the Organization of the Petroleum Exporting Countries (Opec) enter into the holiday spirit.
Trade group National Retail Federation estimated that sales for the holiday period of November and December would rise as much as 4 per cent this year to US$682 billion, quelling fears that major bricks-and-mortar chains were doomed.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Singaporeans can now buy record amount of yen per Singdollar
