Stocks Slip in Early Trading as Santa Clause Rally Stumbles; Bitcoin Slumps

GameStop Rises After Roaring Kitty Christmas Post

57 minutes ago

Did Roaring Kitty give meme-stock traders a Christmas present? While that isn’t presently clear, GameStop (GME) fans are doing a little shopping of their own this morning. 

Shares of the retailer associated with Keith “Roaring Kitty” Gill, who for many is the first person who comes to mind when the company comes up, were rising in early trading Thursday.

The gains, modest but noticeable at about 4%, follow a Wednesday tweet from his X account that was characteristically vague—he often tweets clips from movies and other media without explaining their meaning, leaving much to the beholder—though also seasonal: an image of a wrapped gift box.

Does that mean he got something nice? Has something to give? Likes nicely wrapped boxes? Predictably, people are wondering—and watching, with the message at recent count seen some 4 million times, according to X, with thousands of responses, retweets and likes. 

Shares of the company, meanwhile, are up nearly 80% in 2024, though below prices seen at the top of spikes largely inspired by Gill earlier this year. GameStop earlier this month reported its latest quarterly results, turning in a decline in sales and swinging to a net profit.

–David Marino-Nachison

Major Indexes Riding Multi-Day Win Streaks

2 hr 2 min ago

Heading into the start of Thursday’s session, the Dow Jones Industrial Average has finished higher in four straight sessions, while the S&P 500 and Nasdaq Composite have gained for three consecutive days.

With its gains so far this week, the S&P 500 has moved into positive territory for the month. The Nasdaq is also higher for the month, while the Dow is on track to finish December with losses.

For the year, the Nasdaq is up 33.4%, while the S&P 500 and Dow have gained 26.6% and 14.9%, respectively.

Futures Point to Lower Open for Major Indexes

3 hr 17 min ago

Futures tied to the Dow Jones Industrial Average were down 0.3%.

S&P 500 futures were also off 0.3%.

Nasdaq 100 futures slipped 0.4%.