Sarina Trangle

Key Takeaways Hershey shares fell as traders digested updates suggesting that it was unlikely to merge with Mondelēz International. Mondelēz said it was focused on purchases that are easier to pull off, and Bloomberg reported its bid was rejected as too low. The candy company previously rebuffed an acquisition offer from Mondelēz in 2016.

Key Takeaways Costco, which caters to higher-income households, says members are cooking at home more. Some are selecting Wagyu, while others are moving toward lower-cost meats, CFO Gary Millerchip said. The store's Kirkland private label now accounts for about a third of Costco's U.S. food sales., executives said.

AI recommendations are coming to your shopping cart. Retailers are giving their chatbots glow-ups as Americans use the major generative AI players to create shopping lists, compare products and track prices.

Honda and Nissan have acknowledged the possibility of a merger, driving an active trading session in Tokyo for the Japanese auto makers.

The National Retail Federation Believes 157.2 Million People May Shop This Saturday.

Key Takeaways Regulators filed a lawsuit against Zelle's operator Friday claiming it failed to prevent or sufficiently respond to "widespread fraud." The Consumer Financial Protection Bureau alleges that $870 million has been lost to fraud on Zelle since it launched in 2017.

Key Takeaways U.S. stock and bond trading will shut down early on Christmas Eve, and remain closed on Christmas. Bond trading also will end early on New Year's Eve. Both markets will be closed on New Year's Day. Markets are also slated to close for Martin Luther King Jr. Day in January and Presidents Day in February.

Key Takeaways Traders are looking for a so-called Santa Claus rally, in which stocks rise from around Christmas through the second trading session of the next year. This is a period when corporate news slows, resulting in relatively stable values for companies, said Paul Hickey, cofounder of Bespoke Investment Group, while money flows into the market The rally has occurred more than 75% of the time since the turn of the century, according to data from Carson Group.

In This Article ^GSPC ^DJI Michael Nagle / Bloomberg via Getty Images Key Takeaways

Key Takeaways Overall holiday retail spending in the U.S. increased 4.8% from last year, according to a study by Visa. People still like to shop in person, with Visa reporting that 77% of total holiday retail spending occurred in brick-and-mortar stores. But online shopping grew at a faster rate than in-store spending, Visa said, showing that e-commerce is having a particularly strong season.