December 4, 2024

The Appetizer

“Be sure each child understands both the logic for your decisions and the responsibilities they will encounter upon your death.”

• Warren Buffett in a letter regarding his recent donations.

Now, on to the numbers. Drum roll, please …

• 131.7 million: The number of Americans estimated to have shopped on Black Friday.
• 153 million: The number of Slurpees 7-Eleven sold in 2023.
• $169.5 million: The combined estimated opening weekend sales in U.S. movie theaters for “Wicked” and “Gladiator II.”
• $12 billion: The amount five U.S. airlines collected by charging seat selection fees from 2018 to 2023.
• $12 billion: The estimated total amount of fraud losses due to AI-generated content the U.S. last year. Deloitte thinks this figure could reach $40 billion by 2027.
• 500%: The percentage increase in business spending on generative AI, reaching $13.8 billion in 2024.

Dig In
Tariff Talk

While “tariff” wasn’t on the radar for Dictionary.com’s word of the year, if we had to guess, you’ll be hearing it a lot more often in 2025. President-elect Trump, an advocate of tariffs, has even called it the “most beautiful word.” So, what’s the deal with all of this tariff talk?

President-elect Trump views tariffs as a tool for negotiation and protecting American jobs and industries. He also sees tariffs as a way to push back against countries he claims engage in unfair trade practices, like undercutting U.S. prices or stealing intellectual property. But some worry that tariffs will create a tit-for-tat trade war and reignite inflation.

The U.S. is a net importer, meaning it imports more than it exports, creating a trade deficit. In 2023, the U.S. imported a total of $3.8 trillion, or around 15% of GDP, and exported $3.1 trillion. The top three importers to the U.S. were China, Mexico, and Canada.

Recently, Trump has proposed tariffs on imports from Canada, Mexico, and China. Though tariffs could lead to noticeable economic shifts, the impact on inflation is unlikely to be long lasting. Curious to learn more? Check out our latest Sight|Lines for a deeper dive into this topic!

Weekly Specials

“Very demure, very mindful” – If you’ve spent even a second scrolling social media this year, you’ve seen the phrase. And guess what? Demure has been crowned the word of the year by Dictionary.com. It means reserved, modest, or quiet. Think of it as the social media equivalent of sipping tea with your pinky out. It’s all about being proper, aware, and just the right amount of posh.

It’s official: Wicked soared past Gladiator II at the North American box office in its opening weekend, raking in $114 million in ticket sales. Meanwhile, AMC was busy posting etiquette signs as debates heated up over over whether it’s okay to sing along. Our take? Maybe save the solos for the car ride.

Cruising has come a long way from its reputation as a pastime for grandparents. Take Disney’s newest ship, the Treasure, for example. Kids? They slide into their day – literally – using a slide to enter a children’s club where they can design their own Avengers costumes. Meanwhile, adults sip cocktails at a Haunted Mansion-themed bar.

Corporate Lunch

GM is going to be racing in F1 under the Cadillac brand. I don’t think Escalades are known for cornering well, but let’s see how this goes.

Carry the one … hundred million: Macy’s delayed quarterly results after discovering an employee hid $154 million in delivery expenses.

Intel hit the jackpot without a lottery ticket and was awarded $7.9 billion for U.S. chip-plant construction. Don’t spend it all in one place!

AMC Theatres implemented a no singing policy at screenings of Wicked because we paid to hear Cynthia Erivo and Ariana Grande so hush, respectfully.

Starbucks was rocked by a ransomware attack, forcing them to pay employees manually. For our Gen Z audience, this is possible with paper direct deposit technology. It’s where the ‘check’ in paycheck comes from.

Huawei is making their first phones running on an in-house operating system. Don’t get too excited though, these still aren’t available in the U.S.

Abercrombie is expecting a strong holiday quarter; strong as the jacked guys they put in front of the stores. The early 2000s were a funny time.

Diversification does not ensure a profit or protect against loss.

Indices are unmanaged and are not available for direct investment.

Past performance is not indicative of future results.