10 Mins Ago
S&P 500 edges up after market open, reaches new record high
The S&P 500 opened just above flat, while the Nasdaq Composite was 0.15% higher shortly after 9:30 a.m. ET. The Dow lost 55 points, or about 0.1%.
— Pia Singh
28 Mins Ago
Some Treasury yields hit April lows
Several U.S. Treasury yields reached lows going back to April on Friday as traders analyzed the latest labor data.
The well-followed 2-year yield moved as far down as 4.631%. That marks its lowest level since April 1, when it touched 4.595%.
The 1-year yield slipped as low as 5.019%. That’s its lowest going back to April 4, when it recorded 4.997%.
The 6-month yield at one point fell to 5.297%, its worst point since April 5. On that day, the yield hit 5.294%.
— Alex Harring, Gina Francolla
47 Mins Ago
‘Trade-offs for the Fed have shifted,’ after June jobs report, Renaissance Macro Research says
June’s job report data should push central bankers to cut interest rates this fall, according to Renaissance Macro Research.
“This is not a close call,” the firm wrote in a July 5 post on X. “The unemployment rate is climbing & payroll growth is slowing. Conditions in the labor market are cooling off. The trade-offs for the Fed have shifted. If they don’t cut this month, they ought to make a strong signal a cut is coming in September.”
The unemployment rate rose to 4.1% in June, the Labor Department reported Friday. That came out higher than expectations for the jobless rate to hold steady at 4%. The U.S. economy added 206,000 jobs during the month, signaling continued strength in the labor market.
— Pia Singh
An Hour Ago
U.S. added 206,000 jobs in June, unemployment rate hits 4.1%
June’s payrolls report showed a gain of 206,000 jobs for the U.S. economy, the Labor Department said Friday. Economists surveyed by Dow Jones were expecting a gain of 200,000. The unemployment rate ticked up to 4.1%.
The June number is down from the previous month. The May reading was revised down to 218,000 from 272,000.
— Jesse Pound
An Hour Ago
Stock’s making the biggest moves before the bell: Macy’s, Tesla and more
These are the stocks moving the most in premarket trading:
- Macy’s — Shares of the retailer jumped more than 6% following a Wall Street Journal report that an investor grouped has hiked its takeout offer.
- Tesla — The electric vehicle manufacturer popped 2%, marking a continuing comeback after its second-quarter vehicle deliveries number beat analyst estimates earlier this week.
- Novo Nordisk — U.S. traded shares of the pharmaceutical giant rose 1.9% premarket even after a study from Harvard linked semaglutide, which is present in Novo Nordisk’s Ozempic and Wegovy, to an increased risk of a rare eye disease.
Read the full list of stocks moving here.
— Lisa Kailai Han
2 Hours Ago
Bitcoin takes another leg down as Mt. Gox repayments to creditors begin
Thomas Trutschel | Photothek | Getty Images
Stocks tied to the price of bitcoin slid after the cryptocurrency dropped 5% to its lowest level since February, as the now defunct Mt. Gox exchange has begun repayments to creditors, as expected.
Coinbase and MicroStrategy each lost 5% in premarket trading. Among miners, Iris Energy tumbled 8%, while CleanSpark fell 5%. Marathon Digital and Riot Platforms were down 6% and 4%, respectively.
“Most of the selling has been attributed to the Mt. Gox repayments, though there are other factors at play as well,” Joel Kruger, market strategist at LMAX Group, told CNBC. “The story around the German government selling bitcoin has added to the downside pressure which has only been further intensified on leveraged long liquidations and a major technical break in the price of bitcoin below the May low at $56,500.”
“None of this has been shocking or unexpected and there has been nothing that has fundamentally altered the highly constructive outlook for bitcoin and crypto assets, suggesting additional downside should be limited in favor of a strong recovery, as medium- and longer-term players look to take advantage and build exposure into the dip,” he added.
— Tanaya Macheel
15 Hours Ago
Stocks head for winning week
With just one day left in the holiday-shortened trading week, the three major indexes are on track for gains.
The Nasdaq Composite and S&P 500 have climbed more than 2.5% and 1%, respectively, this week. Both closed at new highs and touched fresh intraday records on Wednesday.
The Dow has added 0.5% this week.
The New York Stock Exchange closed early on Wednesday and was dark on Thursday for Independence Day.
— Alex Harring
15 Hours Ago
Investors gear up for jobs data
A healthcare career fair at Cape Fear Community College in Wilmington, North Carolina.
Allison Joyce | Bloomberg | Getty Images
Traders are awaiting Friday morning’s all-important jobs report.
Economists polled by Dow Jones are expecting the following for June:
- Nonfarm payrolls increase by 200,000 jobs.
- The unemployment rate will hold steady at 4%.
- Average hourly wages climb 0.3% from the prior month.
- Average hourly wages to be 3.9% higher than the same month a year ago.
Read more about what to expect here.
— Alex Harring, Jeff Cox
15 Hours Ago
S&P 500 futures near flat
Futures tied to the S&P 500 futures were little changed shortly after 6 p.m. ET. Dow futures added 0.1%, while Nasdaq 100 futures slipped 0.2%.
— Alex Harring
