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5 issues to know earlier than the inventory market opens Thursday, July 29

5 things to know before the stock market opens Thursday, July 29

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Dow futures rise after Fed keeps rates near zero

A trader works behind plexiglass on the floor of the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 28, 2021.

Andrew Kelly | Reuters

Dow futures rose more than 100 points Thursday, one day after the 30-stock average and the S&P 500 dipped slightly and the Nasdaq rose modestly. All three benchmarks finished less than 1% away from Monday’s record closes after Federal Reserve Chairman Jerome Powell said at his post-meeting news conference that substantial economic improvement would be needed for the central bank to start dialing back its easy-money policies. On the fiscal side, the Senate voted to advance a bipartisan infrastructure plan Wednesday evening, a critical step toward Democrats passing their sweeping economic agenda.

  • In stocks to watch: Dow stock Merck fell in the premarket after the drugmarker Thursday matched estimates with quarterly earnings and topped expectations on revenue. Amazon reports earnings after the bell Thursday.
  • Trevor Milton, founder of Nikola, has been charged with three counts of fraud by the U.S. Attorney’s Office in Manhattan in connection with their investigation into the embattled electric vehicle start-up. Shares of Nikola, which lost more than half their value in the past 12 months, were down 6% in Thursday’s premarket trading.

2. Latest GDP, initial jobless claims weaker than expected

In the latest snapshot of the economic recovery from the Covid pandemic, the Commerce Department said Thursday morning that its first look at second-quarter gross domestic product grew at an annual rate of 6.5%, a big miss compared to estimates for 8.4% growth.

The Labor Department also reported before the opening bell on Wall Street that initial jobless claims came in at 400,000 last week, slightly worse than expectations. The previous week’s level was revised up to 424,000. Initial claims for the week ended July 10 of 368,000 matched last month’s Covid-era low.

3. Robinhood to make its public debut after pricing IPO

Vlad Tenev, CEO and Co-Founder, Robinhood in his office on July 15, 2021 in Menlo Park, California.

Kimberly White | Getty Images Entertainment | Getty Images

Robinhood, whose stock trading app surged in popularity among retail investors, is expected to make its debut on the Nasdaq on Thursday. The initial public offering was priced Wednesday night at the low of the range at $38 each, raising about $2 billion and valuing the firm at about $32 billion. However, the company is not without controversy.

  • Earlier this year during the initial meme stock frenzy, Robinhood angered some investors and lawmakers when it restricted trading in some popular stocks following a 10-fold rise in deposit requirements at its clearinghouse.
  • The company this week disclosed that it’s received inquiries from U.S. regulators about whether its employees traded shares of GameStop and AMC Entertainment before trading curbs were placed at the end of January.
  • In June, Robinhood agreed to pay nearly $70 million to settle an investigation by Wall Street’s own regulator.

4. Facebook warns about growth, sets vaccine mandate

A giant digital sign is seen at Facebook’s corporate headquarters campus in Menlo Park, California, on October 23, 2019.

Josh Edelson | AFP | Getty Images

Facebook shares fell roughly 3.5% in Thursday’s premarket, the morning after the social network said revenue growth will slow during the second half of the year. Facebook cited a change in Apple’s privacy policies, which it said will hurt the social network’s ability to target ads. In its second quarter, Facebook reported earnings of $3.61 per share on revenue of $29.08 billion. Both topped estimates. Daily active users and monthly active users each matched expectations.

Facebook will require workers returning to its U.S. offices to be vaccinated, the company also announced Wednesday. “How we implement this policy will depend on local conditions and regulations,” Vice president of people Lori Goler said in a statement. Facebook will create processes for those who can’t be vaccinated for medical or other reasons, Goler said, adding the company will continue to evaluate its approach outside the U.S.

5. Disney, Apple bring Covid mask requirements back

Guests wear masks. as required. to attend the official re-opening day of the Magic Kingdom at Walt Disney World in Lake Buena Vista, Florida, on Saturday, July 11, 2020.

Joe Burbank | Orlando Sentinel | Getty Images

Disney has amended the mask policy at its U.S.-based theme parks in the wake of new guidance from health and government officials. Starting Friday, the company will require all guests, regardless of vaccination status, to masks in indoor locations at Walt Disney World Resort in Florida and the Disneyland Resort in California. Children under the age of two are exempt from this mandate.

People walk past an Apple retail store on July 13, 2021 in New York City.

Angela Weiss | AFP | Getty Images

Apple will require both vaccinated and unvaccinated customers as well as staff members to wear masks in many of its U.S. retail stores starting Thursday, a person familiar with the matter told CNBC’s Josh Lipton. Earlier this week, Apple CEO Tim Cook told CNBC the company had pushed back its return to office plans for corporate workers from September to October and that it could be pushed back again.

— Reuters and CNBC Peter Schacknow contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

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5 issues to know earlier than the inventory market opens Wednesday, July 28

5 things to know before the stock market opens Wednesday, July 28

Here are the key news, trends, and analysis investors need to start their trading day:

1. Wall Street wants to open flat, focus on earnings and the Fed

Trader on the New York Stock Exchange.

Source: NYSE

2. Pfizer sells $ 7.8 billion in Covid vaccines in the second quarter and increases guidance for 2021

Eon Walk (left) gives Daryl Black a dose at a COVID-19 mobile vaccine clinic hosted by Mothers In Action in partnership with the LA County Department of Public Health at Mothers in Action on Friday, July 16, 2021 in Los Angeles Pfizer BioNTech Vaccine Angeles, California.

Irfan Khan | Los Angeles Times | Getty Images

Pfizer increases its 2021 sales forecast for its Covid vaccine by nearly 29% to $ 33.5 billion as the Delta variant spreads and scientists debate whether people need booster vaccinations. While posting better-than-expected quarterly earnings and earnings, Pfizer also said Wednesday that it sold $ 7.8 billion in Covid footage in the second quarter. Pfizer stock fell about 1% in pre-trading hours. Earlier this month, Pfizer said it was seeing signs of waning immunity caused by its Covid vaccine at German drug maker BioNTech and planned to ask the FDA to approve a booster dose.

3. Biden is considering the Covid vaccination mandate for federal employees

The White House is heavily considering requiring federal employees to provide evidence of a Covid vaccination or to undergo regular tests and wear a mask. President Joe Biden suggested Tuesday that extending the mandate to the entire federal workforce “be considered”. The Department of Veterans Affairs became the first federal agency to request vaccinations for its health workers on Monday.

4. Big Tech reports failed profits, stocks mixed in the pre-trading session

Tim Cook, CEO of Apple (L), Satya Nadella, CEO of Microsoft (C) and Sundar Pichai, CEO of Google.

Getty Images

Apple was down 1% in pre-trading after warning that the negative impact of global chip shortages would worsen this quarter. That caution came after Apple reported better-than-expected quarterly earnings of $ 1.30 per share. Revenue was also up versus estimates, driven by a 50% increase in iPhone sales.

Microsoft beat estimates by 25 cents with quarterly earnings of $ 2.17 per share, while revenue beat estimates of continued strong growth in the company’s cloud computing business. Microsoft continued to benefit from the pandemic shift towards working and learning from home. The Microsoft share rose slightly in the premarket.

Alphabet earned $ 27.26 per share last quarter, well above estimates. The Google parent company revenue also exceeded forecasts as it benefited from the increase in online advertising spending. Alphabet was up nearly 4% in the premarket on Wednesday.

5. McDonald’s Hit Powered by BTS Ad, New Chicken Sandwich

People wear protective face masks in front of McDonald’s in Union Square as the city resumes Phase 4 reopening following restrictions imposed in New York City on July 30, 2020 to slow the spread of the coronavirus.

Noam Galai | Getty Images

McDonald’s reported double-digit sales growth in the US in the same store on Wednesday compared to pre-Covid 2019 levels in the most recent quarter. The strong demand for the BTS meal promotion and the new chicken sandwich added to these numbers. Earnings per share of $ 2.37 and revenue of $ 5.89 billion exceeded expectations. The McDonald’s share fell slightly in the premarket.

Boeing reported its first quarterly profit in nearly two years on Wednesday, helped by a surge in commercial aircraft deliveries as airlines recovered from the pandemic. The profit of 40 cents per share exceeded estimates for a loss of 83 cents. Sales of $ 17 billion also exceeded expectations. The share rose by 5% before the IPO.

– CNBC’s Peter Schacknow and The Associated Press contributed to this report. Follow all market activity like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.

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5 issues to know earlier than the inventory market opens Tuesday, July 27

5 things to know before the stock market opens Tuesday, July 27

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Wall Street dips after another day of record high closes

Traders work on the floor of the New York Stock Exchange (NYSE), July 21, 2021.

Brendan McDermid | Reuters

U.S. futures were under some pressure Tuesday, one day after the Dow Jones Industrial Average, S&P 500 and Nasdaq logged a fifth straight session of gains and another day of record high closes. The Federal Reserve holds its two-day July meeting on Tuesday and Wednesday, with the future for rates, bond-buying, and inflation on the agenda. Big Tech earnings are set to start arriving after the bell Tuesday. The second-quarter earnings season has been stronger than expected. So far, 88% of S&P 500 companies reported a positive EPS surprise, according to FactSet. If that’s the final tally, it would be the highest since FactSet began tracking the metric in 2008.

2. Big Tech earnings start after the closing bell

Tim Cook, CEO of Apple (L), Satya Nadella, CEO of Microsoft (C) and Sundar Pichai, CEO of Google.

Getty Images

3. Tesla tops $1 billion in quarterly net income for first time ever

SpaceX founder and Tesla CEO Elon Musk looks on as he visits the construction site of Tesla’s gigafactory in Gruenheide, near Berlin, Germany, May 17, 2021.

Michele Tantussi | Reuters

Shares of Tesla rose about 1.5% in Tuesday’s premarket, the morning after the electric automaker reported earnings of $1.45 per share on $11.96 billion in revenue. Both beat expectations. Tesla passed $1 billion in quarterly net income for the first time, 10 times higher than the year-ago period. The company also reported a $23 million impairment related the bitcoin it holds on its balance sheet. The world’s largest cryptocurrency plunged more than 40% in Q2, so Tesla’s holdings would be worth much less than the nearly $2.5 billion at the end of the first quarter. During Tesla’s post-earnings conference call, CEO Elon Musk said he won’t likely appear on future calls unless he has “something really important” to communicate.

4. GE, UPS best estimates on earnings, revenue

Larry Culp, CEO, General Electric

Scott Mlyn | CNBC

Shares of General Electric jumped more than 3.5% in premarket trading, after the struggling conglomerate exceeded estimates with second-quarter earnings and revenue. GE on Tuesday also said it expects 2021 free cash flow to be $3.5 billion to $5 billion, up from its prior forecast of $2.5 billion to $4.5 billion. Free-cash flow is closely watched by investors as a sign of the health of GE’s operations and ability to repay debt.

UPS CEO Carol Tome meets with workers

Source: UPS

Shares of United Parcel Service dropped about 2% in the premarket, after the delivery giant on Tuesday reported second-quarter earnings and revenue that beat estimates. Under CEO Carol Tome, UPS has been reining in costs and focusing on high margin packages under her “better not bigger” strategy.

5. House select panel on Capitol attack to hold first hearing

U.S. Representative Liz Cheney (R-WY), with Chairman Bennie Thompson (D-MS) and members of the Select Committee to Investigate the January 6th Attack on the U.S. Capitol speak to reporters after meeting with House Speaker Nancy Pelosi (D-CA) at the Capitol in Washington, U.S. July 1, 2021.

Jonathan Ernst | Reuters

The House select committee investigating the deadly pro-Trump invasion of the U.S. Capitol will hold its first hearing Tuesday. The panel will hear directly from four law enforcement officers about their struggles to defend the Capitol from the mob. Wyoming Rep. Liz Cheney, who was ousted from GOP leadership after refusing to stop criticizing Donald Trump for falsely claiming the 2020 election was rigged, is one of two Republicans appointed to the committee so far. The other Republican is Rep. Adam Kinzinger of Illinois. House Speaker Nancy Pelosi previously rejected two of GOP Leader Kevin McCarthy’s picks for the committee.

— Reuters contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

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5 issues to know earlier than the inventory market opens Monday, July 26

5 things to know before the stock market opens Monday, July 26

Here are the key news, trends, and analysis investors need to start their trading day:

1. Dow futures reduced heavy overnight losses after Friday’s records

Trader on the New York Stock Exchange, July 20, 2021.

Source: NYSE

Dow futures fell about 150 points on Monday, halving overnight losses as stocks plunged in Hong Kong and China on concerns over government crackdown on education and real estate.

A big week ago for tech stocks on Wall Street, the Dow Jones Industrial Average closed above 35,000 for the first time on Friday. Four days in a row with profits more than offset the slump of more than 2% last Monday when heightened concerns about an increase in Covid cases due to the Delta variant briefly hit the market. The S&P 500 and the Nasdaq also closed at record highs on Friday.

The Fed’s two-day July meeting is slated to begin on Tuesday. Investors will be looking for signals about when central bankers may start tightening monetary policy and how they view rising inflation. The yield on 10-year government bonds fell to around 1.25% on Monday. The yield, which is contrary to the price, hit a 5½-month low of almost 1.13% last week.

2. Asian stocks fueling Chinese regulatory concerns, US talks

A person wearing a protective mask walks past the sign for Hong Kong Exchanges & Clearing Ltd. (HKEX) on display at the Exchange Square complex in Hong Kong, China on Wednesday August 19, 2020.

Roy Liu | Bloomberg via Getty Images

Hong Kong’s Hang Seng stock index fell more than 4% overnight. Mainland China stocks also plummeted, with the Shanghai Composite and Shenzhen Component each dropping over 2%.

Many Chinese education stocks listed in Hong Kong and the US lost about half their value after Beijing announced new rules on Friday that exclude for-profit tuition in core school subjects to ease financial pressures on families. Chinese regulators also took steps on Friday to clean up irregularities in the real estate market.

In addition to the uncertainty, there was a bumpy start at a meeting of high-ranking Chinese and US representatives. During talks with US Secretary of State Wendy Sherman on Monday, Chinese Vice Secretary of State Xie Feng said relations between the two nations were in a “state” and urged America to “change its highly misguided mindset.”

3. Bitcoin is trading to a six-week high of nearly $ 40,000

An illustration showing physical imitation banknotes and coins of the cryptocurrency Bitcoin.

Ozan Kose | AFP via Getty Images

Bitcoin rose to its highest level since mid-June on Monday, flirting at $ 40,000 before falling back below $ 39,000. Traders hoped last week’s positive comments from cryptocurrency enthusiasts, including Tesla CEO Elon Musk and Twitter CEO Jack Dorsey, would get Bitcoin back on track. Bitcoin hit an all-time high of nearly $ 65,000 in mid-April. On June 22nd, Bitcoin briefly went negative for the year, dropping below $ 29,000. The inventors will see how Bitcoin’s wild ride can affect Tesla’s quarterly results. Musk’s Tesla, which owns the crypto on its corporate balance sheet, will be reporting profits after the closing bell on Monday.

4. The Delta variant leads to an increase in Covid cases in all 50 states and DC

The intensive care nurse Emily Boucher, who works in the intensive care unit at Johnston Memorial Hospital, takes care of Covid patient Hannah Church (25), who was first diagnosed with the coronavirus on May 30, June 16, 2021 in Abingdon, VA.

Kathernine Frey | The Washington Post | Getty Images

Covid cases are increasing in all 50 states and the District of Columbia as the Delta variant spreads rapidly in the US. Cases hit a 15-month low in late June before infections began to rise. Vaccination rates peaked in April and have declined significantly in recent months. White House senior medical advisor Dr. Anthony Fauci said Sunday that Americans with compromised immune systems may need booster shots for Covid vaccines. Fauci told CNN that health officials are considering revising mask guidelines for vaccinated people in the US

5. Senators say they are entering into a bipartisan infrastructure deal

U.S. President Joe Biden speaks to the press after meeting with the Senate Democrats to support his infrastructure and business investment goals during a Democratic lunch at the U.S. Capitol on July 13, 2021 in Washington, DC, July 14, 2021 to win.

Andrew Caballero-Reynolds | AFP | Getty Images

Senators are rushing to finalize a bipartisan infrastructure deal as early as Monday as pressure increased on all sides to show progress on President Joe Biden’s top priority. Leading Republican negotiator, Ohio Senator Rob Portman, said the two sides would have “about 90% of the way to get there” in an agreement. A senior Democrat, Senator Mark Warner of Virginia, said he was confident a final bill would be in by Monday afternoon. The White House wants a bipartisan agreement for this first phase of infrastructure. But as the talks drag on, concerned Democrats, who have little control over the House and Senate, could leave Republicans behind and try to go it alone.

– Reuters and The Associated Press contributed to this report. Follow all market activity like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.

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5 issues to know earlier than the inventory market opens Friday, July 23

5 things to know before the stock market opens Friday, July 23

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Wall Street looks to close week with four-session winning streak

Traders work on the floor of the New York Stock Exchange (NYSE), July 21, 2021.

Brendan McDermid | Reuters

Dow futures rose more than 150 points Friday, pointing to a strong end of the week at Wall Street’s open and what could be four straight positive sessions after Monday’s major plunge. The Dow Jones Industrial Average, the S&P 500 and the Nadsaq were pacing for weekly gains. The Nasdaq was leading the way with an advance of nearly 1.8% over the past four days. All three are also within 1% of their latest record closes, on July 12.

Dow stock American Express rose about 4% in the premarket after the credit giant reported quarterly earnings and revenue that best estimates. Shares of Honeywell International, also a Dow stock, increased modestly in the premarket after the industrial company beat estimates with quarterly earnings and revenue. Honeywell also raised its outlook. A quarter of the way through earnings season, Wall Street is headed toward the best profit growth in over a decade. 

In the bond market, the 10-year Treasury yield, which moves inversely to price, ticked higher Friday, trading at about 1.3% after hitting a 5½-month low of nearly 1.13% earlier this week. July purchasing managers’ manufacturing and services indexes are out at 9:45 a.m. ET.

2. Snap, Twitter soar while Intel drops on quarterly results

The Snapchat application on a smartphone arranged in Saint Thomas, Virgin Islands, U.S., on Friday, Jan. 29, 2021.

Gabby Jones | Bloomberg | Getty Images

Tech stocks rose in Friday’s premarket, with shares of Snap surging 16% after the social media company surprised analysts with a quarterly profit, earning an adjusted 10 cents per share. Revenue also exceeded projections. Snap late Thursday reported higher-than-expected daily user metrics as well as an upbeat revenue forecast.

The Twitter logo is displayed on a smartphone screen on April 14, 2021.

NurPhoto | NurPhoto | Getty Images

Shares of Twitter rose 5% in premarket trading after the company late Thursday beat estimates by 13 cents with adjusted quarterly profit of 20 cents per share. Revenue topped forecasts as ad sales surged 87% from a year earlier. Twitter also gave an upbeat current quarter revenue forecast.

Intel’s logo is pictured during preparations at the CeBit computer fair.

Fabian Bimmer | Reuters

Dow stock Intel fell almost 2% in Friday’s premarket, the morning after the company issued a forecast that disappointed some investors and said the global chip shortage could last well into 2023. Intel did exceed estimates with quarterly earnings of $1.28 per share. Revenue also surpassed projections.

3. Delta variant is one of the most infectious respiratory diseases ever, CDC director says

Critical care workers insert an endotracheal tube into a coronavirus disease (COVID-19) positive patient in the intensive care unit (ICU) at Sarasota Memorial Hospital in Sarasota, Florida, February 11, 2021.

Shannon Stapleton | Reuters

The delta variant, dominant in the U.S., is one of the most infectious respiratory diseases ever seen, warned the director of the Centers for Disease Control and Prevention. The variant is highly contagious, largely because people infected with delta can carry up to 1,000 times more virus in their nasal passages than those infected with the original coronavirus strain, according to new data. The latest seven-day average of new Covid cases was up 65%, while deaths fell 7% in the same time frame to 250 per day.

4. IOC says all possible Covid safety measures have been taken

A view of the Olympic rings in Tokyo ahead of the Tokyo 2020 Olympic Games in Japan.

Danny Lawson | PA Images | Getty Images

With the Tokyo Olympics officially underway Friday, after a one-year delay, the International Olympic Committee said organizers have done all they can do, based on expert Covid recommendations, to ensure a safe games. The IOC was responding to criticism that it’s using “cheap measures” and ignored advice. Reuters reported that 11 athletes have tested positive for the coronavirus since July 2, while Olympic-related infections, including officials and media, were over 100. Earlier this week, World Health Organization chief Tedros Adhanom Ghebreyesus said, “The mark of success is making sure that any cases are identified, isolated, traced and cared for as quickly as possible, and onward transmission is interrupted.”

5. NFL warns teams about Covid outbreaks among unvaccinated players

General view of the NFL Shield logo on the field before Super Bowl LV between the Tampa Bay Buccaneers and the Kansas City Chiefs at Raymond James Stadium.

Kim Klement | USA TODAY Sports | Reuters

The National Football League plans to operate as normal as possible for the 2021 season and told teams they would forfeit games and lose money if Covid outbreaks occur due to unvaccinated players. In a memo obtained by CNBC, the NFL informed team executives and head coaches that it doesn’t plan to reschedule games due to outbreaks as it did during the 2020 season. Instead, the league wrote that “postponements will only occur if required by government authorities, medical experts, or at the discretion” of NFL Commissioner Roger Goodell. The league’s hard stance on postponing games will also protect network partners who just agreed to a media deal worth more than $100 billion.

— Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.

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5 issues to know earlier than the inventory market opens Friday

5 things to know before the stock market opens Friday

Here are the top news, trends, and analysis investors need to start their trading day:

1. Stock futures rise as June retail sales beat expectations

Michael Nagel | Bloomberg | Getty Images

US stock futures were higher on Friday morning, the final day of trading in the first week of earnings reports for the second quarter. Dow futures implied an opening gain of more than 70 points, while futures for the S&P 500 and Nasdaq were also in the green. A day earlier, the Dow Jones Industrial Average rose 53.79 points, or 0.15%, to close at 34,987.02. The broad S&P 500 and tech-heavy Nasdaq lost 0.33% and 0.7%, respectively. The 30-strong Dow is on track for its fourth consecutive positive week. The S&P 500 and Nasdaq are well on their way to breaking three-week winning streaks.

Retail sales in June exceeded forecasts and rose 0.6%, the Commerce Department said on Friday morning. According to the Dow Jones, economists expected a decline of 0.4%. Retail sales fell more sharply than Street forecast in May.

This week’s earnings reports were highlighted by the major US banks. Looking ahead to the beginning of next week, IBM is due to report on Monday, while Netflix, United Airlines and Chipotle Mexican Grill will publish the results on Tuesday.

2. Yellen expects further “rapid inflation” before the slowdown sets in

Treasury Secretary Janet Yellen speaks during a daily press conference in the James Brady Press Briefing Room of the White House May 7 in Washington, DC.

Alex Wong | Getty Images

Treasury Secretary Janet Yellen told CNBC she expected “inflation to accelerate for several months” before price pressures abate. “I’m not saying this is a one-month phenomenon. But I think in the medium term inflation will return to normal levels. But of course we have to keep a close eye on it,” Yellen told CNBC’s Sara Eisen in an interview that came after the Closing Bell aired on Thursday.

The latest consumer and producer price indices, released earlier this week, surpassed Wall Street’s expectations and showed that inflation persisted during the US economy’s pandemic rebound in June.

In the hot real estate market, this is a “completely different phenomenon” from the real estate bubble that burst around the 2008 financial crisis. However, she said, “I am concerned about affordability and the pressures that higher house prices are putting on families who are first buying a home or have lower incomes.”

3. Biden says the US will warn companies that the Hong Kong situation is “getting worse”

U.S. President Joe Biden stops at the Green Road Community Center in Raleigh, North Carolina, the United States, on Jan.

Jonathan Ernst | Reuters

The US plans to warn American companies about “what can happen” in Hong Kong as the Chinese government continues to exert influence over the semi-autonomous region, President Joe Biden said Thursday. Biden said the situation in Asia’s financial center was “worsening” and criticized Beijing for “failing to honor its commitment” to the former British colony, which returned to Chinese rule in 1997. Reuters reported that the Biden government has launched a round of sanctions against Chinese government officials for their role in cracking down on democracy in Hong Kong.

The planned measures by the Biden administration reflect the ongoing tensions in US-China relations, which were frosty even under then-President Donald Trump.

4. Intel in talks to acquire GlobalFoundries for approximately $ 30 billion, WSJ reports

The Intel logo is displayed outside of the Intel headquarters in Santa Clara, California.

Justin Sullivan | Getty Images

Intel’s shares rose about 0.6% in early trading on Friday after the Wall Street Journal reported the semiconductor company was in talks to acquire GlobalFoundries for about $ 30 billion. But the newspaper, citing people familiar with the matter, reported that Intel’s potential deal for the US chipmaker may not materialize. GlobalFoundries, owned by Mubadala Investment Company, a UAE sovereign wealth fund, had reportedly been looking into a blockbuster IPO.

Under the leadership of the new CEO Pat Gelsinger, Intel plans to invest billions in the construction of two chip factories in Arizona and put a new foundry unit into operation. As an influential company in Silicon Valley history, Intel has lagged behind Asian competitors such as Taiwan Semiconductor Manufacturing Company in recent years.

5. LA County reinstates the mandate for inner masks

A son hugs his mother as a concession worker hands out napkins and lemonade at the AMC Theater in the Westfield Century City Shopping Center in Los Angeles, California on Monday, March 15, 2021.

Bing Guan | Bloomberg | Getty Images

Los Angeles County, the largest county in the country, is demanding that people return to wearing face masks indoors as the number of coronavirus cases, fueled by the highly transmissible Delta variant, increases. The mandate, which also applies to people vaccinated against Covid, comes into force on Saturday before midnight.

LA County dropped its mask requirement for fully vaccinated individuals about a month ago, coinciding with the state of California lifting most of the pandemic-era restrictions. The district health officer, Dr. Muntu Davis said Thursday he is now seeing “significant community broadcast”. The majority of cases are recorded in people who have not received the Covid vaccine.

Overall coronavirus cases in the United States have increased recently as public health officials around the world are concerned about the Delta variant.

Correction: In an earlier version, the Nasdaq winning streak was misrepresented. It’s been three weeks.

– The Associated Press contributed to this report. Follow all market activity like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.

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5 issues to know earlier than the inventory market opens Thursday, July 8

5 things to know before the stock market opens Thursday, July 8

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Dow to drop 500 points as Covid concerns resurface

Traders work on the floor of the New York Stock Exchange.

Brendan McDermid | Reuters

Dow futures on Thursday fell nearly 500 points, or more than 1.3%, in a broad premarket decline as Japan declared a state of emergency in Tokyo for the upcoming Summer Olympics and as countries deal with a rebound in Covid cases due to variants. Futures tied to the S&P 500 and Nasdaq also dropped about 1.3% each.

Thursday’s selling came one day after Wall Street’s rally had resumed, with the S&P 500 and Nasdaq finishing at record high closes. The Dow Jones Industrial Average ended 0.3% shy of Friday’s record close.

2. 10-year Treasury yield falls on global economic growth worries

Investors rotated into the perceived safety of bonds Thursday, pushing the 10-year Treasury yield below 1.26% to the lowest since late February. Bond yields move inversely to prices.

  • Despite the strengthening economy and hotter inflation, the 10-year yield continues to decline.
  • It began July around 1.58%. It hit a then-14-month high of 1.78% in March.
  • It began 2021 at less than 1%.

In another look at the recovery in the labor market, the government Thursday morning said initial jobless claims for last week totaled a worse-than-expected 373,000. That’s up slightly from the upwardly revised pandemic-era low the previous week. The level of continuing claims decreased to 3.34 million, down 145,000 from the previous week’s revised level.

3. Tokyo to go under state of emergency ahead of Olympics

The logo of Tokyo 2020 is displayed near Odaiba Seaside Park in Tokyo on July 7, 2021, as reports said the Japanese government plans to impose a virus state of emergency in Tokyo during the Olympics.

Kazuhiro Nogi | AFP | Getty Images

Just two weeks before the Tokyo Olympics, Japan’s prime minister on Thursday announced the state of emergency for the capital city due to rising Covid infections. The order goes into effect this coming Monday and through Aug. 22. That means the Olympics, opening on July 23 and running through Aug. 8, will be held entirely under emergency measures. While fans from abroad were banned months ago, Olympics officials had recently set venue limits at 50% capacity for local spectators. However, the state of emergency could force another change in the fan policy.

4. Global coronavirus deaths top 4 million as delta variant spreads

Two women walk next to graves of people who passed away due to the coronavirus disease (COVID-19) at the Parque Taruma cemetery in Manaus, Brazil May 20, 2021.

Bruno Kelly | Reuters

The global death toll from Covid exceeded 4 million late Wednesday as infections worldwide crossed 185 million, according to data compiled by Johns Hopkins University. In recent months, many countries are battling a surge in Covid infections due to the spread of the more transmissible delta variant, which first emerged in India. The delta strain now accounts for more than half of new Covid cases in the U.S. The World Health Organization has said that delta is the “fastest and fittest” variant yet, and health experts have warned it could undermine efforts to contain Covid even as vaccination campaigns are underway around the globe.

5. States bring new antitrust suit against Google over app store

The logo of Google Play is seen on a screen.

Alexander Pohl | NurPhoto | Getty Images

State attorneys general are again going after Google with an antitrust lawsuit, this time alleging the Alphabet unit abused its power over app developers through its Play Store on Android. The case marks the fourth antitrust lawsuit lodged against the company by U.S. government enforcers in the past year. By focusing on the Play Store, the latest lawsuit touches on an aspect of Google’s business that is most similar to Apple’s App Store. The App Store has become embattled in legal challenges and drawn lawmaker questions over whether it unfairly charges developers for payments through their apps by customers and whether it favors its own apps over those of its rivals.

— The Associated Press contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.

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5 issues to know earlier than the inventory market opens Friday, July 9

5 things to know before the stock market opens Friday, July 9

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Dow to recover some of the losses in Thursday’s sell-off

Traders on the floor of the New York Stock Exchange.

Source: NYSE

Dow futures bounced more than 200 points Friday, one day after a broad sell-off on Wall Street. The Dow lost 259 points, or 0.75%, on Thursday, finishing roughly 1% away from last Friday’s record close. The 30-stock average had been down as much as 536 points during Thursday’s session. The S&P 500 and Nasdaq also ended off their lows of the day, retreating from Wednesday’s record closes. All three stock benchmarks, as of Thursday’s close, were on track to finish lower for the week. Concern about a slowdown in economic growth, due to the spread of the Covid delta variant, hurt sentiment Thursday, with investors buying bonds for their perceived safety and driving yields lower.

2. 10-year Treasury yield bounces off February lows

Bond yields, which move inversely to prices, rose Friday. The 10-year Treasury yield was back above 1.34% after falling Thursday as low as 1.25% to levels not seen since February. The 10-year yield hit a then-14-month high of 1.78% in March. It began 2021 at less than 1%. Treasury yields have generally been falling over the past week, with declines accelerating Thursday on delta variant worries and an unexpected jump in first-time filings for jobless claims for last week, rising from the previous week’s Covid-era lows.

3. Biden to sign executive order to crack down on Big Tech

US President Joe Biden speaks about the situation in Afghanistan from the East Room of the White House in Washington, DC, July 8, 2021.

Saul Loeb | AFP | Getty Images

The White House is expected to announce Friday a new executive order aimed at cracking down on anti-competitive practices in Big Tech, labor and numerous other sectors The sweeping order, which includes 72 actions and recommendations that involve a dozen federal agencies, is intended to reshape the thinking around corporate consolidation and antitrust laws, CNBC’s Ylan Mui reported. “The impulse for this executive order is really around where can we encourage greater competition across the board,” the White House’s chief economic advisor, Brian Deese, told Mui in an exclusive interview.

4. Pfizer is developing a Covid booster to target delta variant

12 years and older New Yorkers are getting vaccinated at the St. Anthony of Padua Roman Catholic Church in Bronx of New York City, United States on June 13, 2021.

Tayfun Coskun | Anadolu Agency | Getty Images

Pfizer and BioNTech are developing a Covid booster shot intended to target the delta variant, already the dominant form of the disease in the U.S. While they believe a third shot of their current two-dose vaccine can preserve the “highest levels” of protection against all currently known variants, the companies are “remaining vigilant” and working on an updated version of the vaccine. Thursday’s announcement came the same day Olympics organizers said they’re banning all fans from the games this year after Japan declared a state of emergency for Tokyo to curb a wave of new Covid infections.

5. Wells Fargo tells customers it’s shuttering all personal lines of credit

A man walks past a Wells Fargo Bank branch on a rainy morning in Washington.

Gary Cameron | Reuters

Wells Fargo plans to end a popular consumer lending product, angering some of its customers. The bank is shutting down all existing personal lines of credit in the coming weeks and no longer offers the product, according to customer letters reviewed by CNBC. The revolving credit lines, which typically allow users to borrow $3,000 to $100,000, were pitched as a way to consolidate higher-interest credit card debt, pay for home renovations, or avoid overdraft fees on linked checking accounts. Wells Fargo is still recovering from the aftermath of its 2016 fake accounts scandal.

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5 issues to know earlier than the inventory market opens Wednesday, June 30

5 things to know before the stock market opens Wednesday, June 30

Here are the top news, trends, and analysis investors need to start their trading day:

1. Wall Street will close the first half of 2021 with solid profits

Traders on the floor of the New York Stock Exchange, June 25, 2021.

Source: NYSE

US stock futures were flat on Wednesday, a day after the S&P 500 and Nasdaq hit record highs again. The Dow Jones Industrial Average, which was up more than 100 points early Tuesday, closed slightly higher and stayed around 1.4% off its record high in early May. The 10-year government bond yield ticked lower on Wednesday, trading around 1.46% on better-than-expected ADP job data.

At the beginning of the last day of June and the first half of the year, the S&P 500 led the most important benchmarks with an increase of 14.3% since the beginning of the year. The Nasdaq gained 12.7% over the course of the year. The Dow was up 12% in 2021, although it has lagged recently, seeing a slight monthly decline. The S&P 500 and the Nasdaq rose in June. All three benchmarks saw solid gains in the second quarter.

2. Bed Bath & Beyond’s revenues are impacted by turnaround costs

Shoppers exit a Bed Bath & Beyond store in New York.

Michael Nagel | Bloomberg | Getty Images

Bed Bath & Beyond shares rallied in the premarket on Wednesday after the retailer reported mixed results for the first quarter. Sales exceeded estimates, but profits were missed. Costs related to the company’s turnaround efforts, including marketing expenses, weigh on margins. The company raised its full-year sales forecast ahead of the important back-to-school shopping season. Stocks of Bed Bath & Beyond, which saw some strength in meme stock trading earlier this month, rose 68% at the close of trading on Tuesday in 2021.

3. Three companies will make their public debuts

A logo of the ride-hailing giant Didi Chuxing can be seen on a building in Hangzhou in the eastern Chinese province of Zhejiang.

STR | AFP | Getty Images

Didi Global is expected to start trading on the New York Stock Exchange on Wednesday after setting its IPO at $ 14 per share and raising $ 4.4 billion. That gives the China-based ride-hailing company an initial valuation of about $ 73 billion.

Digital advertising company Taboola will be launched on Wednesday following its merger with ION Acquisition Corp. 1, a special purpose vehicle for acquisitions, to start trading on Nasdaq. The SPAC transaction will raise $ 526 million when completed.

Clear, number 19 on CNBC’s Disruptors 50 list this year, is expected to trade on the NYSE on Wednesday after valuing its initial public offering of $ 31 per share and raising more than $ 400 million. Clear, known for its frequent flyer identification service, introduced the Health Pass during the Covid pandemic.

4. ADP publishes strong June private employment report

People walk past a Help Wanted sign in the Queens borough of New York City on June 4, 2021 in New York City.

Spencer Platt | Getty Images News | Getty Images

ADP reported Wednesday that U.S. company jobs rose 692,000 in June. That easily exceeds estimates. However, in May the value of positions in the private sector, while still strong, was revised significantly down to 886,000. During the Covid pandemic, the ADP report wasn’t a good indicator of what the government’s monthly employment report might be showing. Economists expect Friday’s job data to show that around 700,000 new jobs outside of agriculture were created in June. The country’s unemployment rate is expected to fall to 5.7%. Weekly jobless claims are published on Thursday.

5. When the real estate boom begins to fizzle out, mortgage demand falls

A sign advertising home loans for purchase or refinance with a Bank of America in New York.

Scott Mlyn | CNBC

High home prices are finally starting to take some of the boom out of the Covid-induced real estate boom. Mortgage demand fell 6.9% for the week, according to the Mortgage Bankers Association. That is the lowest level in almost a year and a half. Home purchase mortgage applications fell 5% weekly and 17% annually. That’s the slowest pace since early May 2020 when the lockdowns were in full effect. Refinancing requests decreased by 8% weekly and 15% annually.

– Reuters contributed to this report. Follow all market activity like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.

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5 issues to know earlier than the inventory market opens Friday, July 2

5 things to know before the stock market opens Friday, July 2

Here are the top news, trends, and analysis investors need to start their trading day:

1. Stock futures rise according to the June job report

Traders work on the floor of the New York Stock Exchange on November 4th. 2020.

NYSE

US stock futures rose Friday morning following the release of the better-than-expected June job report. All major street indices closed on Green Thursday as Wall Street got off to a positive start into the second half of 2021 after a strong first half. The S&P 500 rose 0.5% to 4,319.94, its sixth record high in a row. The Dow Jones Industrial Average added 131 points, ending the session at 34,633.53. The 30-person Dow has risen three sessions in a row and is at its highest level since June 4th. The tech-heavy Nasdaq rose 0.13% to 14,522.38 on Thursday. The key averages are all positive for the week and at the level of their second consecutive weekly gain.

2. The US created 850,000 jobs in June

A company is advertising an Aid sign on April 9, 2021 in Pawtucket, Rhode Island.

Spencer Platt | Getty Images

The number of employees outside the agricultural sector rose by 850,000 in June, the Ministry of Labor said on Friday. The number is better than the 706,000 jobs economists were expecting, Dow Jones estimates. However, the unemployment rate rose to 5.9%, while the projections forecast a decline to 5.6%. Average hourly wages rose 0.33% in June and 3.6% year-on-year; both numbers correspond to the estimates. The Department of Labor’s April and May employment reports fell short of Wall Street’s expectations as companies across all industries said they were having difficulty filling vacancies.

3. Robinhood applies for the highly anticipated IPO

Pavlo Gonchar | LightRakete | Getty Images

In its highly anticipated IPO on Thursday, Robinhood Markets announced that it has 18 million retail clients and more than $ 80 billion in client assets. The free stock trading pioneer said it was profitable in 2020, posting net income of $ 7.45 million on net sales of $ 959 million as the number of accounts funded more than doubled that year. In 2019, Robinhood lost $ 107 million on net sales of $ 278 million.

Robinhood ended the first three months of this year in a loss of $ 1.4 billion, related to the emergency funding it closed during the peak of the Reddit-fueled GameStop madness in January. Revenue for the quarter rose 309% to $ 522 million, compared to $ 128 million in the first quarter of 2020. Approximately 38% of Robinhood’s revenue comes from options trading accounts. Stocks make up 25% of sales, while crypto makes up 17%.

Founded in 2013, the company plans to raise $ 100 million when it goes public. It intends to list on the Nasdaq and trade under the ticker “HOOD”.

4. Virgin Galactic plans to launch Richard Branson on July 11th

Sir Richard Branson stands on the trading floor of the New York Stock Exchange (NYSE) in front of the trading of Virgin Galactic (SPCE) in New York, USA, 28 October 2019.

Richard Branson Virgin Galactic IPO NYSE

Space tourism company Virgin Galactic has scheduled its next test flight for July 11th and company founder Sir Richard Branson intends to be on board. The timing is particularly noteworthy as British billionaire Jeff Bezos plans to launch into space. The Amazon founder and richest person in the world is due to launch his own company Blue Origin on July 20th. Virgin Galactic’s shares rose about 30% in pre-trading hours to about $ 56 each. The planned launch will be Virgin Galactic’s fourth test space flight to date. Branson founded Virgin Galactic in 2004 and the company began trading on the New York Stock Exchange in October 2019.

5. Toyota outperforms GM in the US for the first time in a quarter

A Toyota Tundra pickup truck is seen at a dealership in San Jose, California.

Yichuan Cao | NurPhoto | Getty Images

Toyota Motor sold more vehicles in the US than General Motors in the second quarter. This is the first time the Japanese automaker has done this in a three-month period. On Thursday, Toyota said it had sold 688,813 vehicles in America from April to June, almost ousting GM’s 688,236 vehicles. Toyota’s results exceeded analysts’ expectations; GMs fell short. Toyota may become the best-selling automaker in the US, depending on where Ford’s results come in. GM’s Crosstown rival reported the number on Friday morning, and analysts are forecasting US sales of 645,000 vehicles in the second quarter. The last time GM wasn’t America’s best-selling automaker for a quarter was in the third quarter of 1998 when Ford oversold them, according to Edmunds.

The automotive industry has coped with semiconductor shortages and messed up production schedules at a time when consumer demand for new vehicles was strong. Toyota and other Japanese automakers have weathered the chip crisis better than their US rivals so far.

Correction: The Nasdaq closed at 14.522.38 on Thursday. In a previous version the number was incorrectly specified.

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