Copper Rises, Bitcoin Falls, Tim Cook's Pay Soars - 5 Things You Must Know

Here are five things you must know for Thursday, Dec. 28:

1. Stocks Stay Hot

U.S. stock futures were higher on Thursday, Dec. 28, amid a renewed rally in metals and commodities and a weaker dollar.

Stocks were poised to add to the modest gains scored in the previous session. On Wednesday, Dec. 27, a late push helped the S&P 500 rise 0.08% and the Nasdaq to gain 0.04%. The Dow Jones Industrial Average ended the session up 0.11% to 24.774.

Copper prices extended their gains to a 10th consecutive session, taking three-month futures prices on the London Metals Exchange to a fresh four-year high at just under $7,300 a tonne. Gold prices also got a boost from the mini metals boom, with the yellow metal rising 0.26% to $1,294 an ounce.

European stocks traded mixed Wednesday after slipping earlier while Asian shares closed mixed.

2. Here Comes the Data

The economic calendar in the U.S. on Thursday includes International Trade in Goods for November at 8:30 a.m. ET, weekly Jobless Claims at 8:30 a.m., and Oil Inventories for the week ended Dec. 22, at 11 a.m.

3. Apple CEO Makes More Bank

Apple Inc.  ( AAPL) CEO Tim Cook received $9.33 million in incentive pay for the fiscal year ended Sept. 30, $3.06 million in salary and an equity award of $89.2 million.
Cook's total payout for the year was just under $102 million.

The board of the iPhone maker also ordered Cook to take private planes everywhere including for personal travel.

"This policy was implemented in 2017 in the interests of security and efficiency, based on our global profile and the highly visible nature of Mr. Cook's role as CEO," said an Apple proxy statement filed with the Securities and Exchange Commission on Wednesday.

While several reports have noted waning demand for Apple's latest iPhone X, it's clear that the stock's performance has been strong under Cook (who became CEO in 2011, after Steve Jobs).

"Net sales and operating income for 2017 were $229.2 billion and $61.3 billion, respectively, and year-over-year, our stock price increased 36.7%," the proxy noted.

Spot bitcoins fell 9.1% to $13,959 on the Bitstamp exchange, which feeds prices into the CME Group futures contract.

In a statement, the South Korean government said it "had warned several times that virtual coins cannot play a role as actual currency and could result in high losses due to excessive volatility."

South Korea said it would ban the opening of anonymous cryptocurrency accounts and new legislation would allow regulators to close virtual coin exchanges if needed.

5. Hot Stock Alert

Shares of Energous Corp. ( WATT) soared 168% on Wednesday after it received consumer safety certification from the Federal Communications Commission for its its transmitter that can charge devices from a distance.
The company said the FCC approval was the first for remote wireless charging.
The stock slipped slightly in premarket trading to $23.60.
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This story has been updated.