The “wait and see” sentiment dominated Thursday’s trading session as major U.S. indexes pulled back slightly ahead of today’s highly anticipated jobs report.

Despite the market’s subdued performance, the action wasn’t entirely quiet.
Bitcoin stole the spotlight, briefly crossing $103,900 before pulling back.

⚡ Closing Bell:

• Dow Jones: ⬇️ -0.6% to 44,765.7

• S&P 500: ⬇️ -0.2% to 6,075.1

• Nasdaq: ⬇️ -0.2% to 19,700.3

Sector Scorecard:
→ Materials: The day’s biggest loser ❌
→ Consumer Discretionary: The standout gainer ✅

Treasury Yields Flat: The U.S. 10-year Treasury yield remained steady at 4.18% as investors digested mixed labor market signals.

Economic Data:
→ Jobs Data Looms: The market stayed cautious ahead of today’s employment report, which could clarify the Federal Reserve’s rate trajectory.
→ Labor Market Cooldown: Weekly jobless claims edged higher, while the ISM survey showed a slowdown in the services sector.

❗ What’s next: Today’s nonfarm payroll data could dictate the market’s next move.

#TRUTH:
❗❗❗ “Start where you are. Use what you have. Do what you can.” ~ Arthur Ashe

A Comeback on the Horizon?

After October’s disappointing jobs numbers, all eyes are on today’s report to see if the labor market can shake off hurricane disruptions and strike-related setbacks. Economists are calling for a 215,000 boost to nonfarm payrolls, a huge leap from last month’s meager 12,000, with unemployment steady at 4.1%.

Goldman Sachs is feeling optimistic, predicting a “post-hurricane rebound” as payrolls in storm-hit states recover and strikes wrap up. Boeing alone could bring back 37,500 jobs, giving the numbers an extra lift.

Numbers to Watch

• 215,000 new jobs expected (vs. 12,000 last month).

• 4.1% unemployment rate (unchanged).

• +0.3% average hourly earnings growth (month-over-month).

• 34.3 hours worked per week (steady).

Labor Market Check

• Job openings climbed to 7.74 million in October, rebounding from September’s dip.

• Workers are feeling bold: the quits rate rose to 2.1%, signaling growing confidence.

• ADP’s private payroll report showed 146,000 jobs added in November, with job-switchers snagging a 7.2% year-over-year pay bump.

Powell Says Economy’s “In Good Shape”

Speaking at the DealBook Summit, Fed Chair Jerome Powell struck a positive note, highlighting stronger-than-expected growth and fewer risks in the labor market. But inflation is still keeping the Fed cautious.

Markets? They’re betting big on a 70% chance of a December rate cut, as the Fed walks the tightrope between growth and inflation.

Ford Stalls 🦥:

Ford’s stock is underperforming despite reporting its best November sales since pre-Covid times, closing at $10.44 (-2.75%) on Wednesday.
So, what’s holding the automaker back?

The Numbers Look Good… But Not Good Enough
Ford’s November sales beat expectations, but investors remain unimpressed. Its stock continues to trail rival GM (⬆️ +0.06%), as both companies face industry-wide challenges, from China’s sluggish operations to the uphill climb of transitioning to EVs.

What’s Weighing on Ford?

1. Earnings Miss in July: Ford’s Q2 results were a mess, with sky-high costs for safety recalls and older model fixes hammering operating margins.

2. Q3 Earnings Disappointment: October’s earnings report offered little comfort, with a tepid full-year outlook that left analysts questioning whether Ford has fully resolved its quality control issues.

3. Market Confidence Erosion: Comments from executives haven’t instilled confidence, making it hard for the stock to rebound even when sales data looks strong.

The Bigger Picture
While both Ford and GM face significant industry headwinds, Ford’s additional struggles with margin pressures and quality issues have made it harder for investors to believe in a turnaround story.

For now, Ford’s solid sales are being overshadowed by concerns that the company hasn’t fully moved past its recent stumbles—and Wall Street isn’t ready to shift gears just yet.

AI Revolution 🧠:

Thailand just joined the AI sovereignty club, teaming up with Nvidia to launch a supercomputing cluster for its OpenThaiGPT project. Powered by Nvidia’s in-demand H100 GPUs, the cluster will be hosted by Siam AI Cloud in Bangkok, with partnerships involving local universities and startups to ensure everyone gets a slice of the AI pie.

Nvidia CEO Jensen Huang made the pitch crystal clear: “The data of Thailand … it belongs to the Thai people.” Translation? Thailand’s stepping up to own its AI destiny, but critics warn that the country’s history of censorship could cloud the initiative’s promise.

Who Else is in the Club?

Nvidia’s been busy, building sovereign AI systems for nations around the globe. Here’s a quick world tour:

• 🇩🇰 Denmark: “Gefion” supercomputer rocking 1,528 H100 GPUs with the Danish Center for AI Innovation.

• 🇫🇷 France: A supercomputer project with 1,016 H100 GPUs, led by Scaleway.

• 🇮🇳 India: AI cloud computing centers in collaboration with Tata Communications.

• 🇮🇹 Italy: “NeXXt AI Factory” powered by Fastweb, the Swisscom-owned telco.

• 🇯🇵 Japan: The $740M ABCI 3.0 project with big names like SoftBank and GMO Internet.

• 🇳🇿 New Zealand: AI data centers developed with TEAM IM and Oracle.

• 🇸🇬 Singapore: A network of AI datacenters built with Singtel.

• 🇸🇪 Sweden: “Berzelius” AI supercomputer created with Linköping University.

• 🇨🇭 Switzerland: The “Trusted AI Factory,” a $115M project with Swisscom Group.

• 🇦🇪 United Arab Emirates: Cloud computing hubs in partnership with e& UAE and Oracle.

• 🇺🇸 United States: National AI projects with NIST and OpenAI, supported by the White House.

With Thailand on board, the race for AI sovereignty is heating up.

Plateaued:

Dollar stores have hit a rough patch, even after reporting better-than-expected earnings this week. Stocks like Five Below (⬆️ +10.49%), Dollar General (⬆️ +0.21%), and Dollar Tree (⬇️ -1.71%) saw a brief lift, but all three remain down over 40% this year—a stark contrast to their pandemic-era highs.

While consumers are still spending more at discount stores than they did pre-2020 (a combined $18 billion in sales last quarter vs. $13 billion in 2019), growth has plateaued. For investors, “better than before” isn’t cutting it anymore—they want consistent momentum, and that’s where the challenge lies.

Value Perception is Fading. Dollar stores, like fast food, are struggling to maintain their reputation for affordability. If a Dollar Tree item costs roughly the same at Walmart (⬆️ +0.92%) or Target (⬇️ -0.68%), customers might as well shop where they can find more variety or better e-commerce options.

Retail Reset Underway. Dollar General plans to hit the brakes on store openings in 2025, instead focusing on upgrading existing locations. Dollar Tree is doubling down on its “back-to-basics” mission to prioritize value and convenience. Meanwhile, Five Below—known for nonfood items priced at $5 or less—struck a more optimistic tone after strong Black Friday sales.

Leadership shifts across the sector add to the sense of transition. Dollar Tree announced this week that CFO Jeff Davis is stepping down, following the abrupt exit of CEO Rick Dreiling last month. Five Below is looking for a fresh start under Winnie Park, former CEO of Forever 21.

For consumers, dollar stores are still a staple. But with prices creeping up, and competition from big-box retailers and e-commerce giants heating up, the question is whether they can reinvent themselves fast enough to keep pace.

For now, the stock market isn’t buying what dollar stores are selling—but if 2025 brings strategic wins, this beaten-down sector could make a comeback.

The Magnificent 7 (Almost):

Tesla (TSLA) ⬆️ 3.23% and Microsoft (MSFT) ⬆️ 1.19% played hero, keeping the market from sliding further. Still, semiconductor stocks struggled, with the VanEck Semiconductor ETF dropping 1.7%, while software names weren’t much better, as the iShares Expanded Tech-Software ETF slid 1.2%.

Whiskey Wins 🥃:

Brown-Forman (BF.B) surged 10.66%, leading the S&P 500 after posting stellar profits, proving that Jack Daniel’s isn’t just for happy hours—it’s good for shareholders too.

Meme Stock Madness:

GameStop (GME) ⬆️ 5.83% and AMC (AMC) ⬆️ 5.73% got a jolt thanks to a cryptic tweet from Keith Gill, aka “Roaring Kitty.”
Juvenile? Sure. Effective? Absolutely.

🧩 Movers:

• Spotlight ✅ / At the Bottom ❌

  • ✅ American Airlines (AAL): ⬆️ +16.8%, soared on upbeat earnings guidance and a renewed Citi card partnership.

  • ✅ Tesla (TSLA): ⬆️ +3.2%, unveiled details of its Cybercab robotaxi, targeting a 2026 release.

  • ✅ Verint Systems (VRNT): ⬆️ +23%, spiked on earnings that topped Wall Street expectations.

  • ✅ Brown-Forman (BF.A): ⬆️ +12%, surged on strong whiskey sales and improved guidance.

  • ❌ MicroStrategy (MSTR): ⬇️ -4.8%, fell despite Bitcoin’s record-breaking rally.

  • ❌ Synopsys (SNPS): ⬇️ -12%, tumbled after issuing weak fiscal guidance.

  • ❌ American Eagle Outfitters (AEO): ⬇️ -14%, sank after weak holiday quarter guidance.

  • ❌ Applied Materials (AMAT): ⬇️ -5%, fell on a Morgan Stanley downgrade.

Commodities Check: ✔️

• Crude Oil: ⬇️ Settled at $70.06 per barrel, dipping slightly as markets awaited the OPEC+ decision.

• Gold: ⬇️ Closed at $2,646.80/oz, down 0.10%.

• Silver: ⬇️ Ended at $31.19/oz, falling by 0.06%.

The Dollar:

→ US Dollar Weakens: The dollar dropped 0.4%, boosting the euro by 0.7% to $1.058.

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The stinger

Disclaimer

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