Today is Friday, November 28, 2025.
The Early Bird Index today is 80.28.
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Retailers Made Investors Rich 💸
Just in time for Black Friday and the unofficial start of the holiday shopping season, retailers put on an amazing week in the stock market.
Powering the Story: Several retailers, most notably Best Buy $BBY ( ▼ 2.1% ) and Abercrombie & Fitch $ANF ( ▲ 2.87% ), posted better-than-expected financial earnings results this week.
Stock Price: In the past 5 days, Best Buy is up 7.5% and Abercrombie & Fitch is up over 35%. Kohl’s $KSS ( ▲ 2.03% ) is up 55% this week. Macy’s $M ( ▼ 0.31% ) is up 13%.
Bigger Picture: The sudden stock price surge in the retail sector came right before Black Friday, a time when investors tend to pick holiday sales winners. These retailers project strong sales this holiday season.
Background: Some retailers have seen good stock gains in 2025, while others have struggled.
Also: There was a notable drop in U.S. consumer confidence in November.
Early Bird’s Nest Egg Gains: Investors should treat strong retailer outlooks versus weak consumer confidence as a classic sentiment–behavior disconnect: earnings show what consumers are doing today, while confidence surveys reflect how they feel about tomorrow.
That gap argues for being selective within retail rather than either ignoring the earnings strength or dismissing the confidence deterioration.
Consumer confidence can stay weak while spending holds up for a while, especially if employment remains solid and higher‑income consumers keep driving sales.
Final Thoughts: Investors who backed these retailers before this week’s surge likely saw big returns.
Crash Expert: “This Looks Like 1929” → 70,000 Hedging Here
Mark Spitznagel, who made $1B in a single day during the 2015 flash crash, warns markets are mimicking 1929. Yeah, just another oracle spouting gloom and doom, right?
Vanguard and Goldman Sachs forecast just 5% and 3% annual S&P returns respectively for the next decade (2024-2034).
Bonds? Not much better.
Enough warning signals—what’s something investors can actually do to diversify this week?
Almost no one knows this, but postwar and contemporary art appreciated 11.2% annually with near-zero correlation to equities from 1995–2024, according to Masterworks Data.
And sure… billionaires like Bezos and Gates can make headlines at auction, but what about the rest of us?
Masterworks makes it possible to invest in legendary artworks by Banksy, Basquiat, Picasso, and more – without spending millions.
23 exits. Net annualized returns like 17.6%, 17.8%, and 21.5%. $1.2 billion invested.
Shares in new offerings can sell quickly but…
*Past performance is not indicative of future returns. Important Reg A disclosures: masterworks.com/cd.
Notables
Notable Earnings Today: Chagee Holdings (Nasdaq: CHA).
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: N/A.
Notable Economic Events Today: Chicago PMI (9:45 a.m. ET).
Cardano’s Bad November, Explained
November was a rough month for cryptocurrency prices. In particular, Cardano $ADA.X ( ▼ 4.39% ) underperformed many other large-cap cryptocurrencies over the past month.
Price: Cardano is down about 30% in the past month. Most other major cryptos are seeing a 20% price decline in that time.
Powering the Story: Broad altcoin selling in the past few weeks has been an issue across all digital assets. But there were also issues specific to Cardano, such as weak network usage metrics and lost chart support levels.
Final Thoughts: Cardano has lost over half its value in the past 12 months.
FedEx’s Potential Job Cuts
FedEx $FDX ( ▼ 0.05% ) is reportedly laying off 856 employees at its supply chain logistics and electronics facility in Dallas, according to an article from The Commercial Appeal on Wednesday.
Final Thoughts: Shares of FedEx are only up 0.57% this year, although it is up about 11% in the last 30 days.
Trends to Watch
Holding Steady: Toncoin Lags Broader Crypto Rebound as Derivatives Data Shows Cautious Optimism (CoinDesk)
Misfortune: US defense firm Anduril faces setbacks from drone crashes (Reuters)
Interesting Picks: 'Big Short' investor Michael Burry reveals 4 stock picks, including Lululemon and Fannie Mae (Business Insider)
K-Shaped Economy: 4 charts show who’s feeling good about the economy — and who isn’t (Washington Post)
Cautious: ETH whales uneasy as onchain, derivatives data reduce chance for rally to $4K (Cointelegraph)
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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations, and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.
