Macy’s reported an unexpected profit in Q3, driven by a 3.2% rise in comparable sales and strategic improvements under CEO Tony Spring. The company raised its annual financial guidance as its turnaround strategy, including store modernization and exclusive merchandise, begins to resonate with shoppers. Despite sales growth in revamped stores, overall net sales slightly declined due to store closures, highlighting the challenges ahead.

Ahead of Thanksgiving, U.S. markets rallied with the Dow, S&P 500, and Nasdaq seeing nearly 1% gains. Robinhood shares surged 10% following its LedgerX acquisition, while Dell jumped 7% on strong AI demand. Conversely, Deere dropped 5% due to weak forecasts, and HP fell 2% amid layoffs and cost-cutting measures.

Best Buy exceeded Wall Street expectations for Q3, reporting a 2.7% rise in comparable-store sales, driven by strong demand for tech products like computers, gaming systems, and mobile phones. The retailer raised its full-year revenue forecast to $41.65-$41.95 billion and expects a 0.5%-1.2% increase in same-store sales. CEO Corie Barry highlighted innovation and replacement cycles as key growth factors. With these results, Best Buy is optimistic about the upcoming holiday season, despite broader economic uncertainties.

New York Fed President John Williams has indicated potential room for a December rate cut, citing a softening labor market and easing inflation risks. His comments significantly shifted market expectations, with rate cut odds rising to 70% from 35%. However, other Fed officials remain cautious, emphasizing the need for clear evidence before adjusting rates further. The ongoing debate underscores the Fed's balancing act between inflation control and supporting the job market.