President-elect Donald Trump walks onto the floor of the New York Stock Exchange (NYSE) with his wife Melania, after being named TIME’s “Person of the Year” for the second time on December 12, 2024 in New York City.
- Stocks are set to close out a lukewarm week.
- President-elect Donald Trump rang the opening bell at NYSE on Thursday.
- Wholesaler Costco is scoring big online.
Here are five key things investors need to know to start the trading day:
1. Lukewarm
Stocks are set to close out a lukewarm week. Through Thursday, the Nasdaq Composite is up 0.22%, the S&P 500 is down 0.64% and the Dow Jones Industrial Average is down 1.63%. A down day on Thursday put the Nasdaq below its record 20,000 threshold and made for the Dow's sixth straight losing session. Follow live market updates.
2. Trump at NYSE
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President-elect Donald Trump rang the opening bell at NYSE on Thursday. Joined by Vice President-elect JD Vance, incoming first lady Melania Trump, two of Trump's children and scores of business and soon-to-be government leaders, Trump spoke to CNBC about tariffs, his meetings with CEOs and his expectations for the stock market. Watch the full conversation between Trump and CNBC's Jim Cramer.
3. Costco e-commerce
Wholesaler Costco is scoring big online. The company said Thursday e-commerce sales during its most recent quarter were up 13% from the same period a year earlier. The company beat Wall Street estimates on the top and bottom lines for its fiscal first quarter of 2025. Revenue and net income were both up year over year, boosted in part by higher membership fees.
4. Early departure
FAA head Michael Whitaker will step down from his post on Jan. 20. The top aviation regulator was nominated by President Joe Biden in October 2023 to a five-year term, but will leave his position as Trump takes office. It comes at a time of heightened FAA oversight of aircraft manufacturer Boeing. "You have seen leadership come and go — and through every transition you have kept air travel steady and safe. This transition will be no different," Whitaker said in a statement.
5. Mall mentality
Gen Z is all about the mall. The cohort, a growing spending force, shops at physical stores at the same rates as their grandparents, diverging with generations in between and seemingly defying their digital tendencies. The trend is a boon for shopping malls, which have begun to cater specifically to teens and twenty-somethings with store features and experiences.
Money Report
– CNBC's Sean Conlon, Hakyung Kim, Kevin Breuninger, Melissa Repko, Leslie Josephs and Michael Sheetz contributed to this report.
