Macy's CEO Tony Spring discusses the company's earnings, consumer spending trends and the outlook for retail sales with Romaine Bostick on "Bloomberg The Close." (Source: Bloomberg)

SpaceX charges toward a blockbuster IPO at $135 a share, while Ray Dalio warns the AI boom is showing classic bubble behavior. Private equity jitters grow as Partners Group caps fund withdrawals. We get insight from Ares Management co-founder and CEO Michael Arougheti  who says the private credit market remains strong. Citizens CEO Bruce Van Saun joins "Bloomberg Open Interest" on AI’s banking revolution, and we explore why private equity is making a massive bet on tennis. Get a jump start on the US trading day with Matt Miller and Dani Burger on Bloomberg Open Interest. (Source: Bloomberg)

On this episode of Stock Movers with John Tucker: - Macy's (M) shares are on the move after it lifted its sales outlook for the year, a sign that the company’s focus on growing its luxury business and improving its assortment is paying off. - GameStop (GME) shares are climbing after the video-game retailer reported a record quarterly profit driven by its collectibles business. Sales overall climbed 14% to $835.3 million. Net income of $389.6 million was the highest ever for a quarter in the company’s history, GameStop said in a regulatory filing Tuesday. - Palo Alto (PANW) shares are dropping as the security software company reported results following a 61% year-to-date rally. The company reported third-quarter results that beat the average analyst expectation and raised its full-year forecast for key metrics, but failed to meet elevated buyside expectations. (Source: Bloomberg)

Macy’s raised its sales outlook for the year, lifting its annual guidance for comparable sales to as much as 1.2%, up from a previous high of 0.5%. Romaine Bostick reports on Bloomberg Television. (Source: Bloomberg)

S&P 500 Index futures are little changed as of 7:50 a.m. in New York as growing strains on the ceasefire between the US and Iran sent oil prices higher.

"Bloomberg Markets" follows the market moves across every global asset class and discusses the biggest issues for Wall Street. Today's guests: Tortoise Capital Senior Portfolio Manager Rob Thummel, SW Retail Advisors President & Founder Stacey Widlitz, The Conference Board Chief Economist Dana Peterson, Crescent Grove Advisors CO-CIO Andrew Krei, Morgan Stanley Private Wealth Advisor Kathy Entwistle, Wedbush Securities Equity Research Senior Vice President Alicia Reese, Seaport Research Partners Senior Analyst, Semiconductor, Electronics Jay Goldberg, Laffer Investments CEO and CIO Nancy Tengler, BMO Private Wealth Chief Market Strategist Carol Schleif, Wedbush Securities Technology Research Global Head Daniel Ives, Reserve Padel Founder and CEO Wayne Boich and La Fete Wine Company Founder and CEO Donae Burston. (Source: Bloomberg)

As department stores lose their grip on the middle class, Macy’s is betting on becoming the “center” again, with CEO Tony Spring reshaping the iconic brand. Retail historian Michael Lisicky and former Sears executive Mark Cohen explain what it takes to matter to shoppers now. (Source: Bloomberg)

This week, Glenn Hubbard warns that tariffs, shaky data and a mature credit cycle create risks as the Fed looks toward 2026. And, will open AI ecosystems win out over closed models, as AMD CEO Lisa Su and former IBM CEO Sam Palmisano suggest? Plus, from AI to manufacturing, soaring electricity demand is forcing a rethink of where our power comes from and how fast we can build to generate it. Later, can Macy’s reinvent the department store for today’s shopper? (Source: Bloomberg)

Tony Spring says Macy’s is seeing record service scores and shoppers seeking fresh offerings. He tells Romaine Bostick on “The Close” that additional store closures are planned for 2026, supported by a stronger digital business. (Source: Bloomberg)

Macy's reported better-than-expected earnings, but its profit forecast disappointed investors. Chief Executive Officer Tony Spring struck a cautious note on consumer spending in the coming weeks, saying in an interview that guidance was “prudent” and that the company is facing strong results from a year ago. He spoke to Bloomberg's Romaine Bostick off camera. (Source: Bloomberg)

Retailers are "cautiously optimistic" on this Black Friday, says Dana Telsey of the Telsey Advisory Group. She talks about what retailers and shoppers are looking for on "Bloomberg Surveillance." (Source: Bloomberg)