5 things to know before the stock market opens Friday, January 3
Here are five key things investors need to know to start the trading day:
1. A rocky start
2. The steel’s all melted
A water tower at the United States Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, US, on Wednesday, Sept. 4, 2024.
Justin Merriman | Bloomberg | Getty Images
3. Tesla deliveries drop
Car transporters are loaded with new Tesla Model Y electric vehicles at the Tesla Gigafactory Berlin-Brandenburg site.
Patrick Pleul | Picture Alliance | Getty Images
Shares of Tesla fell on Thursday after the automaker reported its first drop in annual delivery numbers. The company’s fourth-quarter vehicle production and deliveries report said deliveries dropped to 1,789,226 in 2024 compared with 1.81 million in 2023. Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company’s shareholder communications. Tesla shares were down more than 6% following the report on Thursday.
4. A year for coins
Representations of cryptocurrency Bitcoin are seen in this illustration taken Nov. 25, 2024.
Dado Ruvic | Reuters
Cryptocurrencies rose to start the year, rebounding from recent losses as investors anticipate a banner 2025 for the industry. The price of bitcoin rose 3% to $97,234.80 Thursday, bringing its new year gain to nearly 4% when counting trading from the Jan. 1 session. Despite a record postelection rally that sent bitcoin above $100,000, crypto assets slid at the year’s end. But investors are optimistic that President-elect Donald Trump will follow through on his promises to create a more favorable regulatory environment for the industry once he’s in office. They also hope Congress will pass its first-ever crypto-focused legislation to help structure the market.
5. Cut the chains
Sign for the fast food brand Wendy’s on 17th November 2023 in London, United Kingdom.
Mike Kemp | In Pictures | Getty Images
Many restaurant chains like Wendy’s, Applebee’s and TGI Fridays closed locations in 2024 as consumers dined out less often. Consumers weary of inflation instead sought value and discounts when they did choose to go out for food. Overall U.S. restaurant visits fell for the first 10 months of the year, according to industry tracker Black Box Intelligence. Twenty-six restaurant companies filed for Chapter 11 bankruptcy protection in 2024, nearly triple the number of filings in 2020, during the height of the pandemic.
— CNBC’s Yeo Boon Ping, Lora Kolodny, Tanaya Macheel and Amelia Lucas contributed to this report.
