🦃 Read this before you eat the turkey — and shop the sales 🛍️

Greetings, On The Money readers,

We're publishing this issue of the newsletter a few days early because of the Thanksgiving holiday here in the U.S.

Speaking of Thanksgiving, I'm eternally grateful for your readership! Your comments, thoughts and questions make me a better journalist and human.

I hope your holiday is filled with friends, family and lots of pie. (Cherry is my favorite.)

Also, do you know what makes a fantastic gift for friends and family this holiday season? A Reuters subscription! Get unlimited access to all stories and fewer ads. Plus, no surprise price increases, and you can cancel anytime.

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U.S. retailers are deeply discounting turkeys, which is pushing the cost of the traditional Thanksgiving dinner lower for a third straight year. But the price of side dishes highlights the impact of inflation nationwide, according to the American Farm Bureau Federation. And one thing is certain – Americans despise higher prices, no matter who is living in the White House.

📧 Meanwhile, my inbox is brimming with Thanksgiving-related data. I'll highlight a few interesting factoids here:

🍷 Chime says the average American will spend $952 on Thanksgiving this year, including $175 on food, $110 on drinks and $83 on décor. Other expenses include travel and miscellaneous costs like a new outfit.

💰 Nearly seven in 10 Americans (68%) say Thanksgiving will be more expensive due to tariffs and inflation, according to new Empower research

🎁 And almost two in three (63%) potential hosts expect guests to contribute money or bring an item to help offset costs, and one in 10 admit they wouldn't invite empty-handed guests back next year, LendingTree reports.

Do you plan to spend more money this year on Thanksgiving? Email me at onthemoney@thomsonreuters.com.

Eli Lilly has become the first trillion-dollar pharmaceutical company, thanks to its blockbuster obesity drugs which are conquering the U.S. market. Weight-loss drug stocks are hot and risky, but there can be winning choices. Watch here.

Fun fact: I once went Black Friday shopping with my family at midnight. Emphasis on "once!" REUTERS/Benoit Tessier

Attention, holiday shoppers!

Americans are expected to hit stores this Black Friday in unprecedented numbers, but they are likely to curtail their spending as they find fewer bargains from tariff-hit retailers.

Marking the biggest turnout ever for the five-day stretch between Thanksgiving and Cyber Monday, an expected 186.9 million people will shop, up from 183.4 million last year, the National Retail Federation projects. But sales growth for the last two months of the year, crucial for retailers, is expected to slow.

The federation estimates average spending on gifts and seasonal items such as decorations, cards, food and candy will reach $890 per person, slightly less than last year's $902. Nearly two-thirds of the 8,427 consumers polled say they will wait for Thanksgiving weekend deals, up from 59% in 2024, with older shoppers driving the trend.

Some other factoids that caught my eye:

According to WalletHub, JCPenney, Belk and Kohl's are 2025's best places to shop on Black Friday, offering an average discount of at least 45%.

If you're one of the 43% of Americans with an unused gift card burning a hole in your pocket, the holidays may be the perfect time to put that to use, too, Bankrate says. 

Tablets, phones and home accessories are most likely to see price hikes just before the holiday sales events begin, according to research from KnownHost.

If you're a holiday shopper, I'd love to hear from you. What's on your list? Are prices giving you sticker shock, or are the discounts real? Are you using AI to price shop this year? Drop me a note: onthemoney@thomsonreuters.com.

The Trump administration is looking for new ways to boost housing affordability with a plan to introduce a 50-year mortgage. But On The Money readers are not enthusiastic about the idea.

Here are some edited excerpts of your comments:

"This is a great way to have a lot more bankruptcies when people try to sell their houses – which they will have no equity in – and find they're underwater. Back to 2009!" 

– Lisa Clark

"Ludicrous…Most people will never live long enough to pay off the loan."

– Christine G.

"Ridiculous! The real problem is affordability. That should be addressed."

– Ashish J.

"If you need a 50-year mortgage, you should be a renter. You'll be better off financially. You are not building equity in either case – and owning a home still requires property taxes and maintenance." 

– Rob Gordon

"Great for banks, horrible for homeowners." 

– Lisa Taylor 

If you're one of the many people whose job was eliminated this year, I want to hear from you. I'm collecting tips on the smart financial moves – as well as mistakes to avoid – after a layoff. Write to me at onthemoney@thomsonreuters.com. I read every letter!

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