Stock Market Winners & Losers: Tech Struggles to Bounce Back | Americans Intend to Cut Holiday Gift Purchases | Tom Brady to Become Part Owner of Las Vegas Raiders
The stock market struggled to recover from a tech-induced selloff, with volatility spiking after ASML Holdings’ outlook spooked chip investors. Apple reached a record high of $237.49. In entertainment, Terrifier 3 surprised with an $18 million haul on a $2 million budget, while Joker: Folie à Deux dropped 81%, earning just $7 million in its second weekend.
Holiday shoppers plan to spend less on gifts, with spending intentions down 3% from last year. However, spending on experiences and entertainment is expected to rise by 8%. Retailers may need to offer more discounts as high prices push consumers toward more affordable brands.
In sports, Tom Brady was approved as a minority owner of the Las Vegas Raiders, purchasing a 10% stake. The Raiders, valued at $7.8 billion, charge the highest ticket prices in the NFL. Brady, now the third former NFL player to own a team, also has a $375 million broadcasting deal with Fox.
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