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.
