This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day:
1. Shop 'til you drop
A person carries shopping bags during Black Friday shopping at Garden State Plaza on November 28, 2025 in Paramus, New Jersey. Eduardo Munoz Alvarez | Getty Images
The U.S. economy expanded more than economists expected, the Commerce Department said in a government shutdown-delayed report. Here's what to know: The U.S. economy grew 4.3% in the third quarter, according to an initial reading.
Consumers appear resilient, as spending expanded 3.5% in the third quarter after rising 2.5% in the second quarter.
The Commerce Department's initial read of economic growth over the summer comes after a consumer sentiment report shows more pessimism about the economy.
Holiday retail spending rose 4.2% this season, driven by e-commerce and electronics, according to a preliminary Visa racked up holiday debt this year, at an average of $1,223 — up from $1,181 last year, LendingTree said.
racked up holiday debt this year, at an average of $1,223 — up from $1,181 last year, LendingTree said. The GDP report was delayed almost two months because of the government shutdown and was enough to alarm investors into thinking that the Fed is less likely to lower interest rates in early 2026.
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2. All is calm
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