Here are the most important news items investors need to start their trading day:
People walk in front of the New York Stock Exchange (NYSE) on Wall Street in New York City on July 12, 2022.
Angela Weiss | AFP | Getty Images
Equity futures were virtually flat on Friday morning as Wall Street waited for July’s key nonfarm payrolls report due at 8:30 a.m. ET. Futures moves are made after the mixed Thursday session.of Dow Jones Industrial Average It fell 0.26%, falling for the third time in four days. S&P 500 It remains positive to date with a loss of just 0.08%.tech heavy NASDAQ CompositeMeanwhile, the rose 0.41% to close at its highest level since May 4th.
A man walks past a “Now Hiring” sign in New York City on July 8, 2022.
Angela Weiss | AFP | Getty Images
Economists expect US to add 258,000 jobs in JulyDespite the fast pace of hiring, it may have cooled compared to the first six months of the year, according to Dow Jones. Job growth could slow further from here as the Federal Reserve (Fed) raises interest rates to curb US inflation, the highest in 40 years, and recession fears could rise. I have concerns that there is. The unemployment rate is expected to remain at 3.6% in Friday’s jobs report, according to the Dow Jones. Wages were up 0.3% month-on-month.
China said on Friday after House Speaker it would halt cooperation with the US on issues including climate change and military ties Nancy Pelosi Earlier this week, I visited Taiwan, the democratic island that Beijing claims as its territory. China also personally imposed sanctions on Pelosi for the visit, further stirring tensions between her two largest economies in the world. US Secretary of State Anthony Blinken has criticized China’s missile launches this week during military exercises near Taiwan, saying those actions represented an “extreme, disproportionate and escalating” response. According to Reuters.
An AFP journalist checks the DoorDash food delivery application on a smartphone on February 27, 2020 in Washington, DC.
Eric Baradat | AFP | Getty Images
door dash stock Stocks soared more than 9% in pre-market trading on Friday.after the food delivery company posted better-than-expected second-quarter earnings and a record 426 million orders delivered in the period. and warned that it expects a “softer consumer spending environment” in the third and fourth quarters.
Other earnings news:
- expedia group posted strong earnings and earnings in the quarter ended June 30, with its stock gaining more than 4%. CEO Peter Kern says “travel demand remains strong” despite flight disruptions and economic uncertainty.
- dispatch company lift The stock rose as much as 7.5% in pre-market trading after reporting better-than-expected adjusted earnings, based on estimates compiled by FactSet.
- Beyond Meat downgraded its full-year sales forecast and announced plans to lay off about 4% of its workforce, but also reported disappointing second-quarter results. CNBC’s Amelia Lucas has the full recap here.
Senator Kirsten Sinema, Democrat of Arizona, at a news conference at the Dirksen Senate Office Building in Washington, DC, USA, Wednesday, July 28, 2021.
Stephanie Reynolds | Bloomberg | Bloomberg | Getty Images
Senate Democrats appear to have enough support to move forward with so-called anti-inflation laws, with a reported 1% tax on stock buybacks now part of a broader bill. However, as a condition of gaining the support of Senator Kirsten Cinema (D-Arizona), the bill would include a carry-on that would allow hedge funds and private equity investors to pay lower tax rates. Interest tax changes are no longer included. Read the full article on cinema legislative support here..