My top 10 things to watch Thursday, Dec. 5 1. Shares of companies holding cryptocurrency and enabling trading surged as bitcoin topped $100,000 for the first time ever. MicroStrategy shares jumped 9%. Robinhood and Coinbase rose 7.5% and 5%, respectively. The rally in bitcoin, which has skyrocketed around 140% year to date, accelerated after crypto supporter Donald Trump won the presidential election. 2. Filings last week for first-time jobless claims totaled 224,000, more than economists expected. Thursday’s claims data came a day after weaker-than-expected ADP private payrolls data and before Friday’s release of the government’s employment. Bond yields were up Thursday, putting pressure on stocks after another S & P 500 record. 3. Costco ‘s November same-store sales, ex-gas and ex-currency, rose 4.9%. E-commerce dropped 2.5%. Costco thinks online was negatively impacted by an estimated 15 percentage points, due to Black Friday and Cyber Monday happening later in the year compared to 2023. Shares were trading at all-time highs. 4. Five Below shares jumped 15% after the discount retailer reported much better than expected earnings per share (EPS) and revenue. Same-store sales rose 0.6% versus the 4% expected drop. The company raised its full-year guidance for EPS and revenue and expects same-store sales to decline less than expected. 5. Dollar General reported a pretty good quarter. The stock was up. The company did say its core customer is financially constrained. Rival Dollar Tree delivered a strong quarter earlier this week, and several Wall Street analysts raised their prices targets on the company that also owns the Family Dollar chain. 6. American Eagle Outfitters shares, however, dropped 13% after the apparel retailer’s mixed quarter. EPS beat and revenue slightly missed. Management said this year’s holiday shopping calendar shift was a drag on sales in the reported quarter and a factor in lighter guidance. 7. Shares of PVH , the company behind Calvin Klein and Tommy Hilfiger, fell 6% after reporting weaker than expected current quarter EPS and revenue growth guidance. Full-year outlook was also soft. In the reported quarter, Tommy Hilfiger revenues beat but Calvin Klein missed. 8. Off-price retailer TJX got a bunch of analyst price target hikes, citing positive momentum going into the holiday shopping season after a strong quarter. Baird analysts cited robust consumer traffic, a great variety of inventory, and strong marketing as reasons for increasing their PT on the Club stock to $138 per share from $133. 9. Disney hiked its dividend by 33% after a highly successful year, which included the Club holding’s latest blockbuster “Moana 2.” Summer releases “Inside Out 2” and “Deadpool & Wolverine” have both made over $1 billion at the box office. This Christmas, Disney’s “Mufasa” from the Lion King franchise is expected to be big. 10. Meta Platforms plans to invest $10 billion to build an artificial intelligence data center in Louisiana. The announcement late Wednesday comes a day after the Club name said it was fielding proposals from nuclear energy companies to help power AI efforts. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
The price of bitcoin reaches over $100,000 for the first time, as seen on a screen at a cryptocurrency exchange store in Hong Kong, Dec. 5, 2024.
Paul Yeung | Bloomberg | Getty Images
My top 10 things to watch Thursday, Dec. 5
1. Shares of companies holding cryptocurrency and enabling trading surged as bitcoin topped $100,000 for the first time ever. MicroStrategy shares jumped 9%. Robinhood and Coinbase rose 7.5% and 5%, respectively. The rally in bitcoin, which has skyrocketed around 140% year to date, accelerated after crypto supporter Donald Trump won the presidential election.
2. Filings last week for first-time jobless claims totaled 224,000, more than economists expected. Thursday’s claims data came a day after weaker-than-expected ADP private payrolls data and before Friday’s release of the government’s employment. Bond yields were up Thursday, putting pressure on stocks after another S&P 500 record.
3.Costco‘s November same-store sales, ex-gas and ex-currency, rose 4.9%. E-commerce dropped 2.5%. Costco thinks online was negatively impacted by an estimated 15 percentage points, due to Black Friday and Cyber Monday happening later in the year compared to 2023. Shares were trading at all-time highs.
