Morning Update: Bitcoin Surpasses $100,000 Mark

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Morning Update: Bitcoin Surpasses $100,000 Mark

| || --- || S&P 5006,086 (+0.61%) || Nasdaq19,735 (+1.3%) || Dow45,014 (+0.69%) || Bitcoin$98,357 (+2.3%) |

1. Bitcoin Breaks Psychological Barrier

The selection of pro-crypto Paul Atkins as the new SEC Chair by President-elect Trump boosted Bitcoin (BTC 1.81%) to surpass $100,000 for the very first time. Bulls see this as solidifying its 'digital gold' function as a store of value.

  • "Major leap for the digital asset": Caroline Mauron, co-founder of Orbit Markets, anticipates continuous growth in the upcoming days. CCData reported substantial digital asset trading volume exceeding $10 trillion in November.
  • Exceptional Score of 93: Bitcoin leads TMF’s Cryptoball rankings. The unpredictable digital currency has virtually doubled since Tom Gardner made the initial purchase in our 10X portfolio back in 2021. Among the 840 cryptoassets, only two others have a 90+ overall strength rating.

2. Key Points to Lookout for on Thursday

DocuSign (DOCU -0.41%) is anticipated to release Q4 earnings after market closure. As the first full quarter where the Intellectual Agreement Management (IAM) AI-powered cloud software was accessible to all clients, the 'Rule Breakers' company has been struggling in recent years, posting only a 6% increase since 2016.

S&P 5006,086 (+0.61%)

  • Attempting to build a loyal customer base: StockAdvisor suggestion Ulta Beauty (ULTA 0.28%) will also present Q3 earnings, emphasizing progress in improving digital capabilities and participation in the loyalty program. Sales growth statistics will reveal how the company is adapting to the challenging competition landscape in the beauty sector.
  • Foolish belief: Ulta Beauty remains within the top 50 in our Quant Rankings due to its potential for outperforming the market during the next half-decade.

3. Lululemon Aiming to Impress

Nasdaq19,735 (+1.3%)

Recommendation from the Hidden Gems list, Lululemon (LULU 0.77%), is slated to report third-quarter results as well. Analysts expect revenue and earnings growth from the same period the previous year.

  • Interest in regional development: Investors will focus on whether U.S. sales growth increases, given Q2 results showcased a 29% surge in international sales but a flat performance in the U.S. market. Keep an eye out for the potential reintroduction of its 'hot yoga'-focused Breeze Through fabric, earlier praised but withdrawn in July due to design issues.
  • Portfolio diversification: Some Foolish investors might find Lululemon an attractive option to increase exposure to international apparel and retail growth. However, establishing a market position in emerging markets may not be an effortless undertaking, so the stock may not be appealing to those hesitant about the size of the task.

Dow45,014 (+0.69%)

4. AI Capabilities Race Continues

OpenAI, the owner of ChatGPT, is launching a 12-day series featuring daily releases of groundbreaking new tools and features, similar to the '12 Days Of Christmas'.

Bitcoin$98,357 (+2.3%)

  • A glimpse into the future: Improvements in reasoning models and AI agents are expected, together with the launch of the anticipated text-to-video tool, named Sora AI. This would enable users to generate video content based on textual descriptions.
  • Significant investments: xAI, Elon Musk's AI startup, announced plans to bolster its supercomputer processing power tenfold, expediting the training of its Grok chatbot. Already operating on a network of over 100,000 connected Nvidia (NVDA -2.60%) chips, such an upgrade could propel xAI's capabilities past those of rivals like OpenAI, Alphabet (GOOG -0.78%), and Anthropic.

5. Foolish Entertainment

Which adjective most accurately describes your sentiments towards AI? Engage in lively discussions with your friends and family, or subscriber access to discover what your fellow members have to say!

  1. The exceptional performance of Bitcoin has led to discussions about its potential as a long-term investment in the realm of finance and investing, with analysts and investors alike looking at its future prospects.
  2. As Bitcoin continues to garner attention due to its recent success, individuals who are interested in finance and investing may be considering how they can appropriately allocate funds in this growing market to maximize their returns.

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