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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. President-elect Donald Trump’s proposed 25% tariffs on Canadian imports could disrupt energy markets, raising fuel prices for U.S. consumers and slashing margins for refiners reliant on Canadian crude, experts warn. Canada’s heavy sour crude, essential for many U.S. Midwest refiners, might face rerouting challenges, while Canadian producers risk significant revenue losses. Despite record U.S. imports of Canadian oil, analysts like Goldman Sachs argue such tariffs are unlikely to materialize, as they would increase energy costs and inflation—contradicting Trump’s broader economic goals.

2. Mortgage rates dipped slightly last week, driving a 12% surge in home purchase applications and a 52% increase compared to last year, as buyers responded to pent-up demand, improved inventory, and a steady economy. The average 30-year fixed mortgage rate fell to 6.86%, while refinance applications dropped 3% week-over-week but remained 119% higher than last year’s Thanksgiving holiday week. The bond market may see volatility as traders respond to upcoming economic data in this shortened holiday week.

3. Disney’s Moana 2 is set to dominate the Thanksgiving box office, with projections of $120–$150 million in domestic ticket sales through Sunday, anchoring a potentially record-breaking holiday weekend. Joining Universal’s Wicked and Paramount’s Gladiator II in theaters, analysts expect the five-day Thanksgiving frame to surpass $200 million, potentially ranking as the second or third highest in history. Industry experts see the trifecta as a return to pre-pandemic box office form, with Moana 2 poised to outperform Disney’s recent Thanksgiving flops like Strange World and Wish. As the holiday box office sets the tone for year-end earnings, theaters are betting on Moana 2 to reignite Disney’s animation dominance.

4. Headlines

   1. Donald Trump has picked Kevin Hassett as Chairman of the National Economic Council.

   2. Just Eat is delisting from the London Stock Exchange; starting December 24th, its stock will only trade on Amsterdam’s stock market.

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