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As of December 2025, UK and US retailers report mixed financial results amid subdued consumer confidence and economic uncertainty. Watches of Switzerland sees robust US demand and tariff relief, while Frasers Group faces UK sales declines despite international growth. Walmart raises forecasts on strong e-commerce and affluent shoppers. Target and home improvement chains report sales challenges, prompting investments and cautious outlooks.
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Stock markets declined on Tuesday amid fears of overvaluation, especially in AI stocks like Palantir, which fell despite strong earnings. Major banks forecast a possible 10-20% correction within the next year, but some investors see recent dips as healthy pullbacks in a long-term bull trend.
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Chinese AI firms, including DeepSeek, are gaining ground amid US-China tensions. Experts warn AI could eliminate many jobs in the next 10-20 years, urging tech companies to act as guardians. China's government supports local AI development, narrowing the US lead. The US faces strategic challenges in maintaining AI dominance.