Sign InMarkets, Bitcoin at $100K, Amazon Faces Prime Delivery Lawsuit
Alex Vellor
Stock futures fell early Thursday, a day after all three major indexes hit new peaks.
The Dow Jones Industrial Average closed above 45,000 for the first time. Nasdaq-100 futures dropped 0.14%, while Dow futures slid 0.08%. S&P 500 futures fell by 0.07%.
Premarket Movers:
| Company | Ticker | Change | Notes |
|---|---|---|---|
| Dollar General | DG | +1.9% | Reported Q3 revenue surpassed expectations; trimmed annual profit forecast due to hurricane expenses. |
| Southwest Airlines | LUV | +2.2% | Revised Q4 revenue per available seat mile forecast upward due to stronger pricing and domestic travel demand. |
| Five Below | FIVE | +14% | Reported better-than-expected Q3 results, raised full-year outlook, and announced a new CEO. |
| American Eagle Outfitters | AEO | -13% | Cut target for annual comparable sales growth, indicating erratic apparel demand during holiday season. |
| Signet Jewelers | SIG | -14% | Missed Q3 earnings and revenue expectations. |
| SentinelOne | S | -14% | Missed Q3 profit estimates and issued underwhelming guidance. |
| Synopsys | SNPS | -8.2% | Forecast fiscal 2025 revenue below expectations due to a slump in China sales. |
| Coinbase Global | COIN | +4.8% | Benefited from bitcoin's rise above $100,000. |
Bitcoin Breaks $100,000
Bitcoin passed $100,000 for the first time on Wednesday, reaching $103,844.05 at its peak. The cryptocurrency has soared by over 140% in 2024 and 48% since the U.S. election.
The rally comes after President-elect Donald Trump announced Paul Atkins as his pick for SEC chair. Atkins is known for supporting pro-crypto policies. Investors are optimistic about new initiatives, including a proposed national bitcoin reserve and tax-free crypto transactions. Trump has also floated plans to expand public crypto markets through IPOs.
UnitedHealth CEO Killed in Midtown Manhattan
Brian Thompson, CEO of UnitedHealth Group’s (NYSE:UNH) insurance unit, was shot outside the Hilton hotel in Midtown Manhattan on Wednesday morning. Police said the attack appeared planned and targeted.
Jessica Tisch, New York Police Department Commissioner, confirmed the ongoing investigation. “Every indication is that this was a premeditated, targeted attack,” she said. Thompson, 50, was on his way to an investor event for UnitedHealth Group when he was shot. The company canceled the event after the incident.
Amazon Sued Over Prime Delivery
A lawsuit against Amazon (NASDAQ:AMZN) was filled on Wednesday. The complaint accuses the retail giant of excluding two city ZIP codes from its two-day Prime delivery service.
The lawsuit claims that Amazon stopped using its own delivery trucks in those areas in 2022 due to safety concerns for drivers. Despite the service cuts, residents were still charged the full Prime subscription price. The areas impacted are described as “historically underserved.”
OPEC+ Extends Oil Production Cuts
The OPEC+ coalition has delayed plans to end some production cuts, citing weak global demand. Members will now restrict combined output to 39.725 million barrels per day until the end of 2026.
Previously, this quota was set to last through 2025. Internal documents and delegate sources confirmed the decision.
Despite cuts and instability in the Middle East, oil prices remain low. Weak demand continues to weigh on the market, keeping prices subdued for much of the year.
About The Author
Alex Vellor
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