Usually bears are a bad sign for markets, but Starbucks customers are bullish for bears — the limited-edition “Bearista” tumbler, to be specific. People are literally fighting to get their hands on one, and demand for the beanie-clad bear was so overbearing, the company had to issue an apology. On one hand, it’s an unbearably funny tale of TikTok trends going too far, but on the other, the insanity over a $30 coffee cup tells you everything you need to know about the US economy and markets.
November may be historically the best month for US stocks, but you wouldn’t know it from the start of the one in 2025. US consumer sentiment sank to near historic lows during the ongoing shutdown, and the general mood of the markets was decidedly risk off.
The rough goings were highlighted by the company at the center of the AI trade, Nvidia, suffering its worst week since April 18, dragging down a cohort of tech stocks with it, and retail traders “skipping the dip” by selling single stocks amid the downturn.
The good news: after big declines in the morning, stocks staged a massive comeback in the afternoon on Friday to end well off session lows, with the S&P 500 inching into positive territory by market close. The Russell 2000 also clawed back losses to end in the green, while the Nasdaq 100 still finished last week slightly down.
