Nasdaq 100 and S&P500: Revenue-Taking and Crypto Drag US Shares Decrease Right now…

• Crypto shares slid as Bitcoin’s value decline rippled by way of the sector. MicroStrategy dropped three%, Coinbase misplaced 2%, and Riot Platforms pulled again by greater than 2%.
• Honda climbed four%, fueled by merger talks with Nissan and a rally in Asian markets after Japan proposed a $735 billion finances. Honda’s U.S.-listed shares are up 14% this week.
• Starbucks edged down zero.four% as strikes unfold to over 300 shops throughout 45 states.
• American Airways slipped zero.6% after a system glitch grounded flights earlier within the week.

Is the Labor Market Softening as Jobless Claims Rise?

Contemporary financial information confirmed preliminary jobless claims for the week ending December 21 totaled 219,000 – barely beneath the forecasted 225,000. Nonetheless, persevering with claims elevated to 1.91 million, reaching the best degree since November 2021.

The regular rise in persevering with claims signifies extra staff are struggling to seek out new jobs, suggesting a gradual softening of the labor market. Lengthy-term unemployment has additionally been climbing. In November, 1.66 million folks have been unemployed for 27 weeks or longer – the best since early 2021.

Is the Nasdaq Poised to Outperform the Dow in December?

Month thus far, the Nasdaq Composite has jumped four.2%, boosted by robust performances from Tesla, Apple, and Alphabet. In the meantime, the S&P 500 is up simply zero.1%. The Dow Jones, nonetheless, lags with a three.6% decline, placing it on tempo for its worst month since April.