Jim Cramer, the host of CNBC’s “Mad Money”, highlighted Costco Wholesale Corp.‘s (NASDAQ:COST) move to sell authentic Hermes Birkin bags and select Chanel products at a significant discount in Chinese warehouse display cases. “Love this stock but this one is just crazy!! wrote Cramer. He responded on a post on X reporting the development. The bags are being sold of around $14,000 in Chinese warehouses, far below typical average market price, stated the post. Don't Miss: The ‘ChatGPT of Marketing' Just O ...

Jim Cramer, the host of CNBC’s “Mad Money”, highlighted Costco Wholesale Corp.‘s (NASDAQ:COST) move to sell authentic Hermes Birkin bags and select Chanel products at a significant discount in Chinese warehouse display cases. “Love this stock but this one is just crazy!! wrote Cramer.He responded on a post on X reporting the development. The bags are being sold of around $14,000 in Chinese warehouses, far below typical average market price, stated the post.This approach, first rolled out during Costco debut ...

Market Overview - The Nasdaq Composite fell 0.7%, primarily impacted by losses in technology stocks, while the S&P 500 decreased by 0.4%. In contrast, the Dow Jones Industrial Average rose by 0.3%, benefiting from its blue-chip composition with fewer tech names [1][19]. - The market had initially rallied following the Federal Reserve's latest rate cut, but Oracle's disappointing earnings report dampened investor sentiment [2][19]. Economic Signals - Weekly jobless claims increased to 236,000, exceeding expectations, after previously reaching a three-year low during Thanksgiving week. The upcoming delayed November jobs report is anticipated to influence market direction [5][10][19]. - Fed Chair Jerome Powell indicated that a January rate hike is unlikely, attributing past inflation spikes to "one-time" factors, which adds a layer of complexity to market expectations [2][10][19]. Technology Sector Performance - Oracle's earnings report revealed a significant miss on cloud revenue targets and announced a $15 billion increase in data-center spending, leading to a 13.79% drop in its stock price, erasing billions in market value [12][19]. - Nvidia also experienced a decline, with shares falling 3.29%, amid concerns regarding the sustainability of AI-driven investments in light of slowing revenue growth [12][19]. - The tech sector is under scrutiny as investors reassess expectations for major players like Nvidia and Broadcom, particularly in the context of AI and cloud infrastructure investments [14][19]. Market Dynamics - The divergence in market performance reflects a defensive rotation, with investors shifting towards safer blue-chip industrials, financials, and consumer stocks, which helped the Dow rise despite struggles in tech-heavy indices [9][10][19]. - The broader market remains sensitive to signals from tech earnings, balancing optimism from the Fed's rate cuts with caution stemming from corporate spending [6][16][19]. Upcoming Events - The market is expected to remain volatile with the upcoming jobs report and earnings announcements from companies like Broadcom, Costco, and Lululemon, which could further influence market sentiment [11][16][19].