5 things you should know before the stock market opens on Friday, December 6
Here are five important things investors need to know to start the trading day:
1. Recording slip
Stocks fell on Thursday, retreating from records the major indexes hit in the previous trading session. The Dow Jones Industrial Average was down 248.33 points, or 0.55%, while the Nasdaq Composite was down 0.18% and the S&P 500 was down 0.19%. Bitcoin, on the other hand, also traded lower, falling below $100,000 after rising above that threshold for the first time late Wednesday. Follow live market updates.
2. Time of work
Employment signs displayed at a job and resource fair hosted by the Mountain Area Workforce Development Board in partnership with NCWorks in Hendersonville, North Carolina, US, on Tuesday, Nov. 19, 2024.
Allison Joyce | Bloomberg | Getty Images
It’s the first Friday in December, which means it’s time for the Labor Department’s nonfarm payrolls report. Investors will be watching to see if the jobs report paints a clearer picture of the labor market after a month marred by strikes and hurricanes. Friday’s report is expected to show an increase of 214,000 jobs in November, which would be a significant jump from October’s less than 12,000 gain. It will also give the Federal Reserve an economic signal ahead of its next policy meeting.
3. Sales circles
An employee walks past a display of hair dye products for sale at an Ulta Beauty Inc. store. New York, US, Thursday, May 31, 2018. Photographer: Gabby Jones/Bloomberg via Getty Images Ulta reported late Thursday that its same-store sales rose 8.1 percent in the first quarter compared to a year ago. The increase was driven by all the right things: A 48 percent increase in digital sales, along with a 5.1 percent increase in transactions and a 3 percent increase in the average ticket. Photographer: Gabby Jones/Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images
Shares of Ulta again Lululemon it came after the companies reported earnings that beat Wall Street expectations on both the top and bottom lines. Ulta also raised its full-year outlook slightly as the beauty retailer shrugged off fears that the company is facing increased competition and declining demand for cosmetics and skin care. Lululemon, meanwhile, provided holiday guidance that was in line with expectations as the yoga pants retailer expressed some optimism for the company’s fourth quarter.
4. Boeing boomerang
Boeing 737 Max fuselages sit on railroad cars during a strike by workers at the company’s factory in Seattle, Washington, US, October 30, 2024.
David Ryder | Reuters
A federal judge refused BoeingThe petition, which is related to the two crashes of its 737 Max plane, addresses concerns about the Justice Department’s diversity, equity and inclusion policies. Boeing had agreed in July to plead guilty to fraud and pay a $243.6 million fine after the DOJ said the manufacturer breached an earlier agreement. Lawyers for the victims’ family members have criticized the settlement agreement and want a say in the appointment of a guardian to oversee the company.
5. Plumbing bags
Zenefits CEO David Sacks speaks at the TechCrunch Disrupt conference in San Francisco, Calif.
Paul Chin | San Francisco Chronicle | Hearst Newspapers via Getty Images
President-elect Donald Trump has named the artificial intelligence and crypto “czar.” He credited investor and podcaster David Sacks for sharing the image on social media Thursday, noting that Sacks would “take us away from the bigotry and censorship of Big Tech.” It was a sign that Trump is rewarding prominent tech professionals who support his campaign. Sacks has been a major financial supporter of Trump during his 2024 campaign despite criticizing him after the January 6 Capitol violence.
– CNBC’s Lisa Kailai Han, Pia Singh, Jeff Cox, Leslie Josephs, Melissa Repko, Gabrielle Fonrouge and Kif Leswing contributed to this report.
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