5 things to know before the stock market opens on Friday

Here are the most important news investors need to start their trading day:

1. Stock futures fall after jobs report

People walk past the New York Stock Exchange (NYSE) on Wall Street on July 12, 2022 in New York City.

Angela Weiss | AFP | fake images

Stock futures fell on Friday morning after a much stronger-than-expected July Nonfarm Payrolls report signaling to investors that the Federal Reserve is likely to remain in rate-hike mode. Futures movement was relatively muted ahead of the labor market data release. On Thursday, Wall Street recorded a mixed session. the Dow Jones Industrial Average fell 0.26%, its third negative day in four, while the S&P 500 it lost just 0.08% and remains positive to date. heavy technology Nasdaq Compositemeanwhile, it rose 0.41% to close at its highest level since May 4.

2. The United States added 528,000 jobs in July

A man walks past a “We’re Hiring” sign in New York City on July 8, 2022.

Angela Weiss | AFP | fake images

The United States added 528,000 jobs in July, the Bureau of Labor Statistics said Friday, far beating the Dow Jones estimate of 258,000 and countering other recent data that suggested the economic recovery is slowing. The unemployment rate fell to 3.5%, when economists had expected it to hold steady at 3.6%. Wages rose 0.5% month-on-month, beating estimates for a 0.3% increase. The sector with the most job creation in July was leisure and hospitality, with a growth in staff of 96,000.

3. China stops cooperation with the US on military and climate matters

China said on Friday it will end cooperation with the US on issues including climate change and military relations after House Speaker Nancy Pelosi earlier this week he visited Taiwan, the democratic island that Beijing claims as its own territory. China also imposed sanctions on Pelosi personally for the visit, further fueling tensions between the world’s two largest economies. US Secretary of State Antony Blinken criticized China for launching missiles during military exercises near Taiwan this week, saying such actions represented an “extreme, disproportionate and escalated” response. according to Reuters.

4. DoorDash appears and more earnings

An AFP reporter checks the DoorDash food delivery app on her smartphone on February 27, 2020 in Washington, DC.

Eric Baradt | AFP | fake images

door board share jumped more than 9% in premarket trading on Friday, after the food delivery company’s second-quarter revenue beat expectations and orders delivered in the period hit an all-time high of 426 million. However, DoorDash reported a larger-than-expected loss of 72 cents per share and warned that it anticipates a “softer consumer spending environment” in the third and fourth quarters.

In more earnings news:

  • Expedia Group posted strong earnings and revenue for the quarter ended June 30, sending shares up more than 4%, with CEO Peter Kern saying “travel demand has remained strong” despite flight disruptions and economic uncertainty.
  • shared transport company lyft reported better-than-expected adjusted earnings, according to estimates compiled by FactSet, helping the stock jump 7.5% in premarket trading.
  • beyond the meat cut its full-year sales forecast and announced plans to lay off about 4% of its workforce, while also reporting disappointing second-quarter results. CNBC’s Amelia Lucas has a full recap here..

5. Democrats Reportedly Adding Buyback Tax to ‘Reduce Inflation Act’

Senator Kyrsten Sinema, a Democrat from Arizona, listens during a news conference at the Dirksen Senate Office Building in Washington, DC, U.S., on Wednesday, July 28, 2021.

Stefani Reynolds | Mayor Bloomberg | fake images

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