The Market In 5 Minutes: California Fires, Jobless Claims, And Bitcoin Hits $15,000

IN THE NEWS

Helios and Matheson Analytics Inc HMNY stock is down 23.9 percent this week after Cinemark Holdings, Inc. CNK announced its own subscription movie ticket service to rival Helios’ MoviePass: Link

Janet Yellen, the pro tem chair of the U.S. Federal Reserve, is entering the final stretch of her time at the helm of the world’s most powerful and influential central bank. Yellen submitted her resignation Nov. 11, effective once her successor is sworn in next year: Link

A series of large fires across Southern California continued to grow Wednesday, leading to the closure of schools and a major freeway and forcing tens of thousands of people to flee their homes: Link

Nearly $70 million worth of bitcoin was stolen from a cryptocurrency-mining service called NiceHash following a security breach, causing the company to halt operations for at least 24 hours: Link

A 20-year-old Florida man was responsible for the large data breach at Uber Technologies Inc last year and was paid by Uber to destroy the data through a so-called “bug bounty” program normally used to identify small code vulnerabilities, three people familiar with the events have told Reuters: Link

Accounting says your past losses are good and your future lower taxes are bad. Common sense might disagree: Link

Bitcoin climbed as much as 14.9 percent on Thursday as it surged above $15,000, extending this month’s advance to more than 50 percent.

ECONOMIC DATA

• USA Challenger Job Cuts for Nov 35.04K vs 29.80K Prior
• Continuing Claims for Nov 24 1.91M vs 1.91M Est; Prior Revised from 1.96M to 1.96M. Initial Jobless Claims for Dec 1 236.0K vs 240.0K Est
• New York Federal Reserve Bank President William Dudley is set to speak in New York at 8:30 a.m. ET.
• The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
• Data on consumer credit for November will be released at 3:00 p.m. ET,
• Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

• Morgan Stanley upgraded Shake Shack SHAK from Underweight to Equal-Weight
• Canaccord upgraded lululemon LULU from Sell to Hold
• JPMorgan upgraded AK Steel AKS from Neutral to Overweight
• Piper Jaffray downgraded Yelp YELP from Neutral to Underweight
• JPMorgan downgraded SecureWorks SCWX from Overweight to Neutral
• Imperial downgraded Bill Barrett BBG from Outperform to In-Line

This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.