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5 issues to know earlier than the inventory market opens Friday, Could 21

5 things to know before the stock market opens Friday, May 21

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

1. Stocks bet on more profits after stopping their three-day losing streak

Traders working on the New York Stock Exchange (NYSE) on May 19, 2021.

NYSE

US stock futures pointed to a second straight day of gains on Wall Street, the day after a rebound rally halted a three-session loss. The Nasdaq rose nearly 1.8% on Thursday, dragging the tech-heavy index into positive territory for the week. Prior to Friday’s trading, the Dow Jones Industrial Average and S&P 500 were still lower for the week, despite progressing more than 0.5% and 1% respectively on Thursday. Tesla, chip stocks, and other speculative names that had great success in the previous session rebounded on Thursday as bitcoin prices rebounded.

2. Bitcoin is hovering above $ 40,000 after a wild week

A representation of the virtual currency Bitcoin can be seen in this illustration from May 19, 2021 in front of a stock graph.

Given Ruvic | Reuters

Bitcoin was trading above $ 40,000 on Friday as the rebound of the world’s largest cryptocurrency by market value stabilized to a three-month low near $ 30,000 after its collapse on Wednesday. Limiting concerns about U.S. demands for stricter cryptocurrency compliance with the IRS has been a concern to keep profits under control. The Treasury Department announced steps Thursday to require that transfers of $ 10,000 or more be reported to the IRS. At this week’s lows, Bitcoin fell more than 50% from April’s all-time highs near $ 65,000.

3. The US proposes a global minimum corporate tax rate of 15%

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

Alex Wong | Getty Images

The Biden government is proposing a minimum global corporate tax rate of 15%. However, Treasury said Thursday that the final rate could be even higher, citing 15% a “floor”, and discussions should continue to be ambitious and increase that rate. Treasury Secretary Janet Yellen, who was Jerome Powell’s predecessor as chairman of the Federal Reserve, said setting a global minimum rate would help halt the “race to the bottom” for tax rates around the world.

4. Tim Cook, Apple’s CEO, wants to testify in the Epic Games case

CEO Tim Cook speaks at an Apple event at corporate headquarters in Cupertino, California on September 10, 2019.

Stephen Lam | Reuters

Tim Cook, Apple’s CEO, will take the stand on Friday to defend the company’s app store against allegations that have become an illegal monopoly. Apple relies on Cook’s appearance to complete the company’s defense against antitrust proceedings by Fortnite manufacturer Epic Games. Epic claims Apple’s App Store has turned into a budget vehicle that earns 15% to 30% commissions from in-app transactions and prevents apps from offering other payment alternatives.

5. Tesla is raising prices for the fifth time in recent months

Tesla’s Model Y compact crossover vehicles in a showroom in Shanghai, China on Jan. 18, 2021.

VCG | Visual China Group | Getty Images

According to EV news site Electrek, Tesla has raised prices for its 3 and Y models for the fifth time in the past few months. The Model 3 Standard Range Plus and Model 3 Long Range AWD rose by $ 500 and now started at $ 39,490 and $ 48,490, respectively. The Y Long Range AWD model also rose $ 500 and now started at $ 51,490. No reason was given for the increases. The prices for the Model 3 Performance and Model Y Performance vehicles have not been increased.

– The Associated Press contributed to this report. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

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World News

Inventory futures edge greater following a rebound day on Wall Avenue

Stock futures edge higher following a rebound day on Wall Street

Traders on the floor of the New York Stock Exchange.

Source: NYSE

Stock futures rose early Friday after averages rebounded from a three-day losing streak the day before, led by technology stocks.

Futures on the Dow Jones Industrial Average showed an opening gain of around 65 points. S&P 500 futures and Nasdaq 100 futures also traded slightly higher.

The futures move followed a comeback day on Wall Street with the Dow gaining 186 points and the S&P 500 and Nasdaq Composite ending the day 1.06% and 1.77% higher, respectively. Microsoft, Facebook, and Alphabet all gained more than 1%, while Netflix and Apple each gained more than 2%.

Stocks of Tesla and other speculative parts of the market rebounded as Bitcoin prices rebounded after a roller coaster ride on Wednesday. However, Bitcoin briefly went negative after the finance department called for stricter cryptocurrency compliance with the IRS.

A new pandemic low in unemployment claims also added to the mood on Thursday. Initial unemployment benefits for the week ending May 15 stood at 444,000, the lowest since March 14, 2020, the Labor Department reported Thursday. Economists polled by Dow Jones had expected 452,000 new claims.

“Thursday’s improvement in jobless claims confirms our view that April’s disappointing job report was more of a slip than a sign of slowdown, and we expect the labor market to see significant improvement in the coming months,” he said Scott Ruesterholz, Portfolio Manager at Insight Investment.

Despite Thursday’s rebound, the Dow is down 0.9% over the past week on track to see its fourth negative week in the past five weeks. The S&P 500 is 0.4% lower from the week, in line with the pace of the second negative week in a row. The Nasdaq Composite is up 0.8% and is positioned to break a 4-week losing streak.

Home Depot shares rose 0.66% in expanded trading Thursday after the retailer announced a new $ 20 billion share buyback program. Home Depot’s announcement came after the company reported first quarter earnings and sales on Tuesday that weighed on analysts’ expectations

– CNBC’s Yun Li contributed to this report.

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Health

5 issues to know earlier than the inventory market opens Thursday, Could 20

5 things to know before the stock market opens Thursday, May 20

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

1. Stock futures become positive after three days of losses

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

NYSE

2. The weekly initial jobless claims hit the new low of the Covid era

The government reported a new Covid low for initial unemployment claims on Thursday. New jobless claims came in last week at fewer than 444,000 expected. The previous week was revised slightly to 478,000.

3. Bitcoin soars to nearly $ 42,000 after the slump on Wednesday

A representation of the virtual currency Bitcoin can be seen in this illustration from May 19, 2021 in front of a stock graph.

Given Ruvic | Reuters

Bitcoin surged to nearly $ 42,000 on Thursday after the world’s largest cryptocurrency tank hit 30% to three-month lows near $ 30,000 on Wednesday. That’s a drop of over 50% from last month’s all-time high of nearly $ 65,000. At Wednesday’s lows, the digital coin essentially broke even in 2021. However, over the past 12 months it has still increased by more than 200%. Bitcoin rebounded during Wednesday afternoon trading before pulling back later in the day and overnight.

4. Virgin Galactic will jump after the next space flight test scheduled for Saturday

Virgin Galactic’s Unity spacecraft fires its rocket engine and goes into space on February 22, 2019.

Virgo Galactic

Virgin Galactic’s shares rose nearly 24% on Thursday ahead of the market after the space tourism company announced it was planning Saturday for its next space flight test. The company announced this after completing a maintenance check on its carrier aircraft that threatened delays. Virgin Galactic aims to begin commercial service in 2022. Before the pre-IPO surge, the stock fell 27% this year and 65% over the past three months. Last week there was a big backlog after Cathie Woods Ark Invest announced that her company’s space exploration ETF had sold almost all of Virgin Galactic’s stake.

5. Oatly, backed by high profile investors, will begin trading

A carton of Oatly branded oat milk will be arranged for a photo in Brooklyn, New York on Tuesday, September 15, 2020. Photographer: Gabby Jones / Bloomberg via Getty Images

Bloomberg | Bloomberg | Getty Images

Oatly will debut on the Nasdaq on Thursday after the IPO peaked at $ 17 per share, the expected range. The Swedish oat milk maker raised $ 1.4 billion and valued the company at $ 10 billion. Last year, Oatly raised $ 200 million in a funding round led by private equity firm Blackstone, including Oprah Winfrey, Natalie Portman, an entertainment firm founded by rapper Jay Z, and former Starbucks boss Howard Schultz.

– Reuters contributed to this report. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

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Health

5 issues to know earlier than the inventory market opens Wednesday, Might 19

5 things to know before the stock market opens Wednesday, May 19

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

1. Stock futures plunge as tech names slide and Bitcoin plummets

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

NYSE

2. Bitcoin drops below $ 40,000 for the first time in 14 weeks. Tesla falls

A visual representation of the cryptocurrency Bitcoin on November 21, 2020 in London, England.

Jordan Mansfield | Getty Images

Bitcoin fell below $ 40,000 for the first time in 14 weeks on Wednesday. In fact, the world’s largest cryptocurrency hit a morning low of under $ 35,000 per unit, down over 46% from last month’s all-time high of near $ 65,000. However, Bitcoin is still up about 40% since the start of the year and more than 300% in the past 12 months.

Elon Musk, the CEO of Tesla.

Christophe Gateau / Image Alliance via Getty Images

Tesla’s shares, which invested corporate money in Bitcoin, fell around 3% to around $ 561 on the Wednesday before going public. A week ago, Bitcoin fell below $ 50,000 and Tesla shares fell below $ 600 each after CEO Elon Musk suspended purchases of electric vehicles using Bitcoin over concerns about the environmental impact of digital currency mining. Tesla stock hit an all-time high of $ 900 on January 25.

3. Bond yields rise ahead of the minutes of the Fed meeting in April

The 10-year government bond yield was above 1.67% early Wednesday before the minutes of the April Federal Reserve meeting were released. At that meeting, central bankers kept interest rates close to zero and the pace of asset purchases stable. They recognized an increase in economic activity as the US recovered from Covid, but insisted that inflation would be temporary. The 10-year return was over 1.7% on last week’s sell-off, its highest level in more than a month after a 14-month high in March.

4. Target is Lowe’s hit, but stocks are moving in opposite directions

View of reusable bags in the Target store in New York on April 13, 2021.

John Smith | Corbis News | Getty Images

Target, which had already risen nearly 17% in 2021, was poised to add another 3% after the retailer posted better-than-expected earnings of $ 3.69 per share on a 23% jump in sales to 24.2 Billion in the first quarter. Target benefited from a re-opening economy and buyers who had additional money due to government economic reviews. The company sees modest growth for the remainder of the year.

A shopper departs after visiting a Lowe hardware store in Philadelphia, Pennsylvania on November 4, 2020.

Mark Makela | Reuters

Lowe’s shares, which rose 20% this year, should fall more than 2% when it opened on Wednesday, despite an unexpectedly strong gain of $ 3.21 per share on a nearly 24% jump in sales to 24.4 Billion USD in the first quarter. Concerns crept in on challenges in the real estate market, including labor shortages and rising lumber prices.

5. New York AG opens a criminal robe of the Trump Organization

President-elect Donald Trump takes the elevator to the lobby after meeting at Trump Tower in New York City on January 16, 2017.

Dominick Reuter | AFP | Getty Images

The office of the Attorney General of New York, Letitia James, which is already conducting a civil investigation into the company of former President Donald Trump, is now also investigating the Trump organization “in a criminal capacity,” its spokesman said on Tuesday evening. James’ spokesman implied that the AG’s investigation into the ongoing criminal investigation against Trump and the Trump Organization is being conducted by the Manhattan District Attorney’s office, Cyrus Vance Jr.

– Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

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5 issues to know earlier than the inventory market opens Tuesday, Could 18

5 things to know before the stock market opens Tuesday, May 18

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

1. Dow futures popping on Walmart, Home Depot strength

Traders on the floor of the New York Stock Exchange.

Source: NYSE

2. Three major retailers outperformed earnings expectations for the first quarter

Shoppers wear masks while shopping at a Walmart store in Bradford, Pennsylvania on July 20, 2020.

Brendan McDermid | Reuters

Walmart’s earnings in the first quarter rose above estimates due to past grocery sales and e-commerce growth. The retailer said more shoppers went to its stores and website to do stimulus checks and prepare to reconnect when Covid cases drop and vaccination rates go up. Earnings per share were $ 1.69. Revenue grew nearly 3% to $ 138.31 billion. Walmart raised its outlook for the year.

A customer wearing a protective mask loads wood onto a cart at a Home Depot store in Pleasanton, California on Monday, February 22, 2021.

David Paul Morris | Bloomberg | Getty Images

Home Depot beat first quarter earnings and sales expectations as consumers swirled around their homes for more than a year after the pandemic. Net sales increased nearly 33% to $ 37.5 billion. Earnings per share were $ 3.86. Home Depot has not published an outlook for the 2021 financial year.

A man buys clothes in Macy’s department store in Herald Square in New York.

Trevor Collens | AFP | Getty Images

Macy’s shares rose around 5% in the pre-market on Tuesday, shortly after the department store chain reported a surprising profit in the first quarter as stimulus checks and vaccine rollouts gave consumers more money and more confidence to return to the mall and freshen up their wardrobes. Better-than-expected first quarter revenue increased 56% to $ 4.71 billion. Macy’s has also raised its financial outlook for the full year.

3. Amazon is reportedly in talks to buy MGM Studios for up to $ 9 billion

Daniel Craig plays James Bond in “No Time To Die”.

Source: MGM

According to several media reports, Amazon is in talks to buy Metro Goldwyn Mayer Studios worth up to $ 9 billion. MGM’s film and TV treasury includes the franchises James Bond and Rocky, as well as “The Handmaid’s Tale” and “Fargo”. These conversations, first reported by The Information, emerged after AT&T agreed to break out of its WarnerMedia film and television unit as part of a merger with Discovery.

4. Warren Buffett’s Berkshire Hathaway builds new Aon stake and strengthens Kroger

Warren Buffett at the Berkshire Hathaway Annual Meeting in Los Angeles, California. May 1, 2021.

Gerard Miller | CNBC

Warren Buffett’s Berkshire Hathaway made several changes to its stock portfolio last quarter, including adding a new bet on UK insurance company Aon and increasing its stake in grocery store owner Kroger. Berkshire also added its relatively new Verizon position and reduced its stake in Chevron, another new bet. Apple remained the largest single holding in Berkshire’s stock portfolio.

5. Michael Burry of ‘The Big Short’ reveals a bet against Tesla

Michael Burry attends the New York premiere of “The Big Short” on November 23, 2015 at the Ziegfeld Theater in New York City.

Jim Spellman | WireImage | Getty Images

Investor Michael Burry announced a short position on Tesla worth more than half a billion dollars in a filing for approval on Monday. Burry, whose company is Scion Asset Management, became famous for betting against mortgage securities prior to the 2008 financial crisis. Burry was featured in Michael Lewis’ book “The Big Short” and the subsequent Oscar winner of the same name. Tesla stock had a tumultuous 2021, down 18% at close of trading on Monday, and down nearly 36% from its all-time high of $ 900 on Jan. 25.

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Business

5 issues to know earlier than the inventory market opens Monday, Could 17

5 things to know before the stock market opens Monday, May 17

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

1. The stock jump in the late week gushes on Monday before the market

People walk past the New York Stock Exchange on Wall Street on May 10, 2021 in New York City.

Angela Weiss | AFP | Getty Images

US stock futures fell on Monday after Friday’s strong rally. However, Friday’s gains of more than 1% for the Dow Jones Industrial Average and S&P 500 and over 2% for the Nasdaq were not enough to offset the sharp declines early last week. The Dow and S&P 500 both saw more than 1% weekly declines, while the Nasdaq fell over 2% on its worst weekly performances since February. The roller coaster ride on inflation concerns hit stocks early last week. The Dow was down 3.4%, the S&P 500 was down 4% and the Nasdaq was down 5%. All three stock benchmarks made up some of those Thursday and Friday losses.

2. 10-year return below 1.7% even if inflation subsides

Bond yields were mostly lower on Monday after 10-year government bond yields rose to over 1.7% on Wednesday during last week’s worst stock sale. This was the highest 10-year return level in more than a month after a 14-month high in March. Fears of inflation and whether the Federal Reserve will be able to keep the promised line with interest rates close to 0% and massive asset purchases rocked the markets. On Wednesday, the government reported that consumer prices accelerated at their fastest pace in more than 12 years in April as the US economic recovery kicked off. The Fed released minutes of its April meeting on Wednesday.

3. AT&T agrees to merge WarnerMedia with Discovery

John Stankey, President & Chief Operating Officer of AT&T and Chief Executive Officer of WarnerMedia, speaks on stage at the HBO Max WarnerMedia Investor Day presentation at Warner Bros. Studios on October 29, 2019 in Burbank, California.

Presley Ann | Getty Images Entertainment | Getty Images

AT&T on Monday announced a deal to combine its WarnerMedia movie and media content division with Discovery, which will pave the way for one of Hollywood’s biggest power players to better compete with streaming media giants like Netflix and Disney. AT & T’s shares were up 4% and Discovery was up 10%. AT&T shareholders would own 71% of the new company. Discovery shareholders would own 29%. The transaction would assemble properties like CNN, HBO and Warner Bros. from WarnerMedia, as well as the HGTV, TLC and History channels from Discovery. In 2018, AT&T acquired Time Warner, since then renamed WarnerMedia, for an equity value of $ 85 billion.

4. Elon Musk clarifies that Tesla did not sell Bitcoin.

Elon Musk, CEO of Tesla, stated in a tweet early Monday that the electric vehicle maker “did not sell Bitcoin”.

Bitcoin partially rebounded on Monday, trading above $ 45,000 per unit. The price of the world’s largest cryptocurrency fell below that level on Sunday after Musk apparently hinted on a Twitter exchange that Tesla might or might not sell the rest of its Bitcoin holdings. He “actually” replied to a sympathetic tweet.

All of this happened days after Musk said Tesla planned to hold onto its Bitcoin even though it stopped using it to buy electric cars until Bitcoin mining can become more energetically sustainable.

5. CDC Director Defends New Mask Policy; Businesses go their own way

People enjoying the sunshine on the steps of the MET in New York City as the CDC lifts restrictions on wearing masks for those who are fully vaccinated.

Adam Jeffery | CNBC

CDC director Dr. Rochelle Walensky urged people to be honest and only drop their Covid masks if they are fully vaccinated. The sudden change in CDC guidelines over the past week has left some people confused as it is not overriding local mask regulations. Local governments and businesses are grappling with the question of whether to follow the CDC’s new guidelines. Starbucks said, “Facials will be optional for vaccinated customers starting Monday, May 17, unless local regulations require it by law.” Walmart and Costco led the way on Friday.

– Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

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World News

Inventory futures dip barely after Wall Avenue’s worst week since February

Stock futures dip slightly after Wall Street's worst week since February

Dealer on the floor of the NYSE.

Source: NYSE

Stock futures fell back in overnight trading on Sunday after last week’s sell-off triggered by inflationary fluctuations.

The futures on the Dow Jones Industrial Average were down 60 points. S&P 500 futures and Nasdaq 100 futures also traded in slightly negative territory.

Bitcoin price fell more than 7% to around $ 44,000 after Tesla CEO Elon Musk hinted in a Twitter exchange on Sunday that the electric vehicle maker may have dumped its Bitcoin holdings. Last week, for environmental reasons, Tesla decided to stop Bitcoin for car purchases.

Wall Street has had one of the wildest weeks of 2021, with the S&P 500 down 4% midweek on heightened inflation fears. The broad equity benchmark ended the week after a consecutive rally with a loss of 1.4%. The tech-heavy Nasdaq Composite, which was particularly hard hit by higher price pressures, fell 2.3% last week. The blue chip Dow fell 1.1% over the period. All three benchmarks had their worst week since February 26th.

“Not only [last] The week’s events are a warning sign of how uncomfortable inflationary pressures can get, but also a warning sign of how overbought the stock markets have become, “JPMorgan chief executive officer Nikolaos Panigirtzoglou said in a note.

Last week’s data showed that the consumer price index was up 4.2% yoy in April. This was the fastest rate since 2008, adding to fears that the Federal Reserve may be forced to taper its loose monetary policy if price pressures persist.

The Fed’s minutes of its last meeting, released on Wednesday, may provide some clues as to how policymakers are thinking about inflation.

Elsewhere, the first quarter earnings season ends with more than 90% of the S&P 500 companies reporting their results. So far, 86% of the S&P 500 companies have reported a positive EPS surprise. That would be the highest percentage of positive earnings surprises since 2008 when FactSet started tracking this metric.

Walmart, Home Depot and Macy’s will all be making profits on Tuesday.

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Business

Inventory picks to climate excessive gasoline pump costs

Stock picks to weather high fuel pump prices

Gas prices rose to over $ 3 per gallon, their highest level since late 2014 when the shutdown of the Colonial Pipeline squeezed supplies.

The price hike precedes what is expected to be a busy summer cruising season, with reopenings and pent-up demand fueling consumer travel.

However, Mark Tepper, president of Strategic Wealth Partners, doesn’t expect this to fail summer road trips.

“If you think about it, a family of four has received over $ 10,000 from the government over the past year. On July 1, they are paid $ 300 per month per child, so you know an additional $ 100 per child for a month or so that they pay at the pump is really nothing in the grand scheme of things, considering what’s going on, “Tepper told CNBC’s” Trading Nation “on Wednesday.

Tepper added that rising airline prices could also force consumers to take road trips via flying to vacation destinations.

“The company I like here is Six Flags. I like the regional amusement park game over the destination parks like Disney and SeaWorld. I think they’re easier to get to, you can go there, you can go on a day trip, you can go for a weekend “said Tepper.

Shares in Six Flags, a park operator valued at $ 3.5 billion, are up 21% in 2021, more than double the earnings for the broader market. Tepper said the stock has room to grow.

“Six Flags is trading at a discount, and I really think expectations and earnings revisions for these people will keep rising over the next few quarters, so I think it’s a buy here,” he said.

According to FactSet, the company is projected to post a loss of 82 cents per share in fiscal 2021, which is less than the pandemic loss of nearly $ 5 per share in 2020. In 2022, earnings are projected to be $ 1.92 per share.

Gina Sanchez, CEO of Chantico Global and chief market strategist at Lido Advisors, likes Six Flags in the short term but says that another game at the amusement park is a better choice in the long term.

“Disney has a few other legs to offer besides the park game as they also have Disney Plus and many other elements in their business,” Sanchez said in the same interview. “We think it’s still attractive because the prospects for these destination parks are still pretty bleak. … Disney was the hottest park in the world before Covid. I think it will still be the hottest park after Covid.”

Disney will report the win after the bell on Thursday. Analysts expect a profit of 26 cents per share compared to 60 cents per share in the previous year. The parks and experiences segment accounts for 23% of total sales.

Disclosure: Lido holds Disney.

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Business

Virgin Galactic inventory drops after doable delay to spaceflight exams

Virgin Galactic stock drops after possible delay to spaceflight tests

The Virgin Galactic spaceship outside of Spaceport America in New Mexico.

Virgo Galactic

Virgin Galactic’s stock fell Tuesday on high trading volume, with the company’s next space flight test – and its broader path to launching commercial flights – potentially further delayed.

The space tourism company gave an overview of the progress in repeating the space test, which was canceled in-flight in December. While the company says it has now completed repairs to an issue with its VSS Unity spacecraft, an unexpected potential maintenance issue was identified with the VMS Eve carrier aircraft after test flights last week.

Virgin Galactic said the issue in question is scheduled for maintenance in October, but the company is currently analyzing whether maintenance needs to be done now – which would likely further delay the space test schedule. The company planned to rerun the spaceflight in May but now says the timing is “currently under evaluation”.

“We’ll be back in the market next week with an update on the flight schedule for our next flight,” said Mike Moses, president of space missions and security for Virgin Galactic, during the company’s conference call.

Virgin Galactic’s stock fell as much as 20% in trading from its previous closing price of $ 17.95 per share before recovering some of the losses to trade 9%. The stock, which was halted by the NYSE for five minutes due to volatility shortly after opening, exceeded its daily average volume within the first half hour of trading on Tuesday.

The lows of the decline took Virgin Galactic stock below $ 15 per share – its lowest level in nearly a year – and continued to add to the stock losses since hitting a high of over $ 60 per share in February.

Virgin Galactic has four test flights left before development of its SpaceShipTwo system is complete.

Meanwhile, stock losses have accelerated after delays in the first of these four space flights, as well as after sales of shares by Chairman Chamath Palihapitiya, founder Richard Branson and Cathie Wood’s new space ETF. The stock also fell after Jeff Bezos’ company Blue Origin announced plans to launch the first crew flight of its space tourism rocket on July 20. UBS cautioned against removing Virgin Galactic’s first mover advantage.

The start of Virgin Galactic’s commercial service, which is expected to begin in 2020 when the company completed its SPAC merger, has been postponed to early 2022.

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5 issues to know earlier than the inventory market opens Friday, Could 7

5 things to know before the stock market opens Friday, May 7

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

1. Dow futures fell on poor jobs report

Traders on the floor of the New York Stock Exchange.

Source: NYSE

Dow futures turned negative and 10-year government bond yields briefly fell below 1.5% after the government’s April employment report fell well below estimates. The economy hired only 266,000 non-agricultural workers last month, the Labor Department said on Friday morning. It is estimated that 1 million new additions were required. The Nasdaq, which recently moved in the opposite direction from bond yields, should open significantly higher.

The Dow Jones Industrial Average rose nearly 1% on Thursday to another record high. A similar rise in the S&P 500 resulted in the index falling within 10 points of last month’s record close. The Nasdaq rose 0.4%, breaking a four-session loss but still more than 3.5% from the record close of April. Ahead of Friday’s Wall Street opening, the tech-heavy Nasdaq fell over 2.3% for the week. The Dow and S&P 500 rose nearly 2% and nearly 0.5%, respectively, over the week.

Pfizer’s shares were unchanged, while BioNTech rose 5% on the Friday before entering the market after the two companies announced they would file for full approval of their Covid vaccine in the United States. Full approval would allow companies to market the two-shot regimen directly to consumers. The FDA granted emergency approval status in late December.

April 2nd jobs really win the mark

Server Adrian Almanza brings appetizers to a table at the Satay Thai Bistro and Bar in Las Vegas, Nevada, March 28, 2021.

Bridget Bennett | Reuters

The hiring of staff in April was a huge disappointment. The number of non-farm workers rose much less than expected and the country’s unemployment rate rose to 6.1% as business reopenings struggled with an escalating shortage of available labor. The originally estimated 916,000 new jobs in March have been revised significantly to 770,000, despite a sharp upward revision to 536,000 in February.

Investors are watching these employment numbers closely as the Federal Reserve has pledged to maintain its extraordinarily simple monetary policy, including near zero interest rates, until the job market heals and inflation picks up. However, many traders believe that inflation will quickly become a problem and the Fed may need to rethink its highly accommodative stance and make adjustments earlier than forecast.

3. The Fed warns of possible “significant declines” in asset prices

The Federal Reserve building can be seen in Washington, DC on March 19, 2021.

Daniel Slim | AFP | Getty Images

Rising asset prices in stock markets and elsewhere pose a growing threat to the financial system, the Fed warned. In its semi-annual financial stability report, the central bank said the danger lurks on Thursday should market sentiment change. “High asset prices reflect in part the persistently low levels of government bond yields. However, valuations of some assets are elevated from historical norms even when measures are applied that take government bond yields into account,” the report warns. “In this environment, asset prices may be vulnerable to significant declines should appetite decline.”

4. India reports more than 400,000 new daily cases for the third time in a week

Health care workers and health care workers transport a woman out of an ambulance for treatment at a COVID-19 care facility amid the spread of coronavirus disease (COVID-19) in Mumbai, India on May 4, 2021.

Niharika Kulkarni | Reuters

Daily India has seen new cases of Covid in India for the third time this month as the South Asian country battled a devastating second wave. Health ministry data released on Friday showed 414,188 new Covid infections over a 24-hour period, in which at least 3,915 died from the disease. However, reports of overwhelmed crematoriums and cemeteries, as well as a growing number of obituaries in newspapers, suggest that the official numbers underestimate the real death toll. Many places have tightened covid containment measures despite the Indian government resisting a national lockdown.

5. Peloton hits $ 165 million as a result of a recall of its treadmills

A monitor displays the signage of Peloton Interactive Inc. during the company’s IPO across the Nasdaq MarketSite in New York, the United States, on Thursday, September 26, 2019.

Michael Nagle | Bloomberg | Getty Images

Peloton anticipates fiscal fourth quarter revenue to decrease $ 165 million due to a recall of its treadmills. Peloton’s shares fell nearly 15% on Wednesday after the company announced a voluntary recall after a child died and dozens were injured in accidents involving the Tread + machine. The stock rose 1.4% on Thursday.

Shares rose nearly 7% on the Friday before going public, the morning after the fitness equipment company reported third-quarter sales up 141% to a better-than-expected $ 1.26 billion. Demand for cycles, which make up most of the business, remained strong. Peloton’s adjusted loss per share of 3 cents for the third quarter of fiscal year was well below estimates.

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