Thursday Indexes Pull back From Records While Bitcoin Sets New Ones | Wall Street Today

Kevin Travers joined discussion · Dec 6, 2024 05:50

Thursday Indexes Pull back From Records While Bitcoin Sets New Ones | Wall Street Today

Bitcoin made headlines after breaking $100k, while equities pulled back across the market. By the close, indexes had fallen below their records set Wednesday.

Just past 4:36 pm ET the $S&P 500 Index (.SPX.US)$ fell 19 basis points, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.55%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.18%.

MACRO

Continuing jobless claims came in slightly below estimated, at 1.87M, right around where it has been for months. Investors are awaiting unemployment numbers on Friday.

Yesterday, users were talking about Fed Chair Powell's Q&A Session at the New York Times DealBook summit, where he talked about the incoming Trump admin, said he would not face removal until his time came 2026, and that the economy was much healthier than when the cutting started.

SECTORS

Within industries tracked by moomoo, Bitcoin stocks did not climb much in reaction to the coin finally breaking the 100k barrier Bitcoin hit a high of $104k. $Coinbase (COIN.US)$ was up 5% at open, but went on to fall 3%. $MicroStrategy (MSTR.US)$ climbed 9% before falling back, landing at -4% for the day.

$Crude Oil Futures(FEB5) (CLmain.US)$ remained at $68/barrel, after an OPPEC_+ meeting went as analysts had expected: the cartel decided to hold back on its production cut yet again.

Gold and silver fell. $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.

MOOVERS

$Synopsys (SNPS.US)$, a chip-making tool provider fell 12% Thursday after it reported its fourth-quarter earnings Wednesday afternoon. It posted adjusted EPS of $3.40, up 7% compared to analyst estimates of $3.30. But first quarter 2025 guidance disappointed with a midpoint of $1.45 billion, down 12% and 11% below analyst expectations. It was the lowest percentage decliner on the S&P 500.

$Brown-Forman-B (BF.B.US)$ shares climbed 10%, leading the S&P 500 in percentage gain after the Jack Daniels and booze seller posted earnings Thursday morning, beating estimates with an EPS of $0.55 vs. $0.49. Revenue was down $12.00 million from the same period last year.

$Ulta Beauty (ULTA.US)$ shares were trading more than 10% higher after-the-bell Thursday after the company reported quarterly earnings of $5.14 per share which beat the analyst consensus estimate of $4.54 by 13.22%.

$American Airlines (AAL.US)$ led a climbing Airlines sector on Thursday, up 16% after the firm raised its fourth-quarter profit outlook between $0.55 - $0.77/share.

$Lululemon Athletica (LULU.US)$ raised its full-year outlook thanks to a strong start to the holiday season and despite continued softness in the Americas region during the third quarter. The yoga pants maker on Thursday said it now expects revenue in the range of $10.45 billion to $10.49 billion, ahead of the $10.38 billion to $10.48 billion previously expected, but still below its initial guidance in March. The stock climbed 8% after hours.

Word from the herd: Mooers, what are you watching?

Want to keep up to date with the market and all its feelings-driven swings, all in under three minutes? Click here to follow the Live Stock Podcast topic. Comment below or in the hot topic for a chance to appear on the podcast! I want to talk about what you are investing in!

Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more