Notables |
| Notable Earnings Today: Deere & Company (NYSE: DE), Intuit (Nasdaq: INTU), Gap (NYSE: GAP), BJ’s Wholesale (NYSE: BJ), Ross Stores (Nasdaq: ROST), Warner Music Group (Nasdaq: WMG), Vestis (NYSE: VSTS), Elastic (NYSE: ESTC), Copart (Nasdaq: CPRT), UGI Corp (NYSE: UGI), Shoe Carnival (Nasdaq: SCVL), KE Holdings (NYSE: BEKE), Atkore International (NYSE: ATKR), Baidu (Nasdaq: BIDU), iQIYI (Nasdaq: IQ), Nano-X Imaging (Nasdaq: NNOX), Natural Grocers by Vitamin Cottage (NYSE: NGVC), NetApp (Nasdaq: NTAP), PDD (Nasdaq: PDD). |
| Notable IPOs Today: Brazil Potash Corp. (NYSE: GRO), CO2 Energy Transition Corp. Unit (Nasdaq: NOEMU). |
| Notable Equity Crowdfunding Campaigns Ending Today: Clarity Consulting Corporation (Netcapital), LEXI (Republic). |
| Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), Philadelphia Fed Manufacturing Index (8:30 a.m. ET), Philly Fed Employment (8:30 a.m. ET), Existing Home Sales (10:00 a.m. ET), United States Leading Index (10:00 a.m. ET), Fed’s Balance Sheet (4:30 p.m. ET). |
Trends to Watch |
| Reality Check: Are spot Bitcoin ETF options traders really expecting a $176K BTC price? (Cointelegraph) |
| Off Target: Target’s Stock Plunges 21% on Weak Sales Ahead of Holiday Season (New York Times) |
| Going Short: Elf Beauty stock slides after Muddy Waters says it has shorted its shares (Reuters) |
| Watch Out: American Airlines to shame boarding line cutters with new technology (NBC News) |
| Social Time: Frank McCourt’s Decentralized Internet Project Enters Ethereum Ecosystem With Consensys Partnership (CoinDesk) |
Crypto Highlights
Bitcoin has rocketed higher, coming within touching distance of $100,000 for the first time as traders bet the incoming Trump administration will follow through on its bitcoin and crypto promises—with a leak revealing U.S. president-elect Donald Trump could appoint the first ever “crypto czar.” See below for details.
The rest of the crypto major market is mixed, with ethereum rival solana and XRP adding almost 2% since this time yesterday while ethereum itself is up just 1%. Just outside of the crypto top ten, payments focused bitcoin fork bitcoin cash has surged 20%. Further down the chart, bittensor, an artificial intelligence-linked cryptocurrency, has added almost 5% after Digital Currency Group’s (DCG) Barry Silbert said the blockchain is his next bet. See below for details.
Good to know: The ethereum-to-bitcoin price ratio has dropped to the lowest since March 2021
Markets & Economy
Delta projects strong 2025 growth: Delta Air Lines ($DAL) forecasts mid-single-digit revenue growth for 2025, planning 3-4% capacity expansion and targeting 10% annual earnings growth, driven by premium travel demand, a “resilient economy,” and an Amex ($AXP) partnership. [Read]
Thanksgiving dinner costs drop: The average Thanksgiving feast for ten now costs $58.08, down 5% from last year, with turkey prices falling 6% to $25.67 despite the smallest turkey flock since 1985. [Read]
Bitcoin ETF options make historic debut: BlackRock’s ($BLK) iShares Bitcoin Trust saw 73K options contracts traded in its first hour, ranking among the top 20 most active nonindex options and marking a significant milestone for institutional crypto trading. [Read]
Business & Wealth
Disney’s “Treasure” leads cruise fleet expansion: Disney’s ($DIS) sixth cruise ship will debut in December, marking the start of ambitious growth plans to double its fleet by 2031 with six new vessels, as the experiences division posts record revenue of $34.15B. [Read]
Paper checks fuel massive fraud wave: US banks have faced surging check fraud, up 400% last year with potential $688M losses, as scammers exploit social media and ATM deposit rules to alter stolen checks before banks can verify them. [Read]
Jaguar unveils art-focused rebrand: The luxury automaker launched a controversial marketing campaign featuring models but no cars as it pivots toward ultra-luxury EVs after sales dropped to 67K units globally last year. [Read]
