A slate of key economic reports is being released today, offering a fresh snapshot of the strength of the U.S. economy.
(LILAMAX)- A slate of key economic reports is being released today, offering a fresh snapshot of the strength of the U.S. economy. The reports include updated figures on consumer confidence, durable goods orders, and gross domestic product — all closely watched indicators of economic momentum.
Meanwhile, a major media merger is gaining new traction. Paramount–Skydance has added a significant assurance to its bid for Warner Bros. Discovery, offering a personal financing guarantee from billionaire Larry Ellison totaling $40 billion. Paramount’s board had been seeking confirmation that Ellison — the father of Paramount chief David Ellison — was fully committed to the deal. Paramount’s offer values the transaction at approximately $108 billion.
Holiday spending trends are also drawing attention this season. The American Christmas Tree Association reports that about 80 percent of U.S. families plan to buy an artificial Christmas tree this year, but rising prices may be reaching a tipping point. According to the Associated Press, artificial tree costs are up 10 to 15 percent, largely due to tariffs.
As prices climb, more shoppers appear to be turning back to live trees. The Real Christmas Tree Board reports sales to roughly 30 million customers this season, with the average live tree priced at around $80. By comparison, artificial trees now average more than $200.
In the energy sector, shares of Dominion Energy fell after the White House paused offshore wind projects off the coast of Virginia. The pause follows concerns raised by the Pentagon, which says the planned 176 turbines could pose a “reflective” risk to U.S. defense radar systems. Federal officials say the delay will allow time to mitigate the risk.
Workplace trends are also shifting as the year winds down. According to Business Insider, white-collar workers in the U.S. now log an average of five and a half hours of work on Sundays. Industry tracker Talkers reports December 15 is widely considered the last major workday of the year, with roughly half of workers admitting they do the bare minimum afterward. On average, workers say the phrase “it can wait until next year” about 16 times during the final two weeks of December.