Americans are expected to reach unprecedented spending levels this holiday season, even as inflation, tariffs, and the government shutdown loom over the world’s biggest economy. Analysts suggest that shoppers are determined to make the most of big retail events, highlighting the nation’s resilience in times of uncertainty.

As Thanksgiving approaches, a shortened trading week becomes a test for American consumers—whose spending is poised to define the market’s performance amid ongoing volatility. Investors are keeping a sharp eye on retail data in these critical days, hoping consumer activity steadies the recent tumult.