JakeNovakNews.com
STOCKS/ECONOMY
-Stock futures are higher after Wednesday's 78-point loss for the Dow, but a 1 percent gain for the Nasdaq and a 0.5 percent gain for the S&P 500. The Nasdaq hit an all-time closing high. The key June jobs reports will be released this morning because the markets are closed Friday for the July 4th holiday weekend.
-Wall Street is expecting a net gain of almost 3 million jobs for June, up from the 2.5 million added in May. But there is a wider range of estimates than usual, based on so much of the coronavirus-caused uncertainty. Weekly new jobless claims are also being reported today, with 1.38 million new claims expected.
-The yield on the 10-year Treasury bond is at 0.68 percent, with the 2-year yield 52 basis points behind at 0.16 percent.
-Gold is at the $1,784 per ounce level. Bitcoin is at the $9,200 level.
-Asian markets closed higher today, with Hong Kong's Hang Seng Index leading the way with a 2.9 percent gain. Shanghai's Shenzhen rose 2.1 percent, while Japan's Nikkei rose just 0.1 percent.
OIL/ENERGY
-U.S. crude prices are up and at the $40 a barrel level.
-Gasoline prices are holding at $2.17 a gallon, national average.
-U.S. federal prosecutors filed suit late Wednesday to seize four tankers-worth of gasoline Iran is sailing to Venezuela, the latest salvo in the administration’s effort to stifle flows of goods and money helping to keep two of its top foes in power.
CORONAVIRUS LATEST
-President Trump says he supports another round of direct payments to Americans to help ease the economic effects of the virus. But this time, he wants more money sent out than Democrats are proposing.
-McDonald’s is pausing the reopening of dine-in service in the U.S. as coronavirus cases continue to spread across states. McDonald's shares are down slightly in the premarket after gaining just 0.1 percent Wednesday.
-Florida's Dade and Broward counties are now requiring people to wear face masks in all public spaces.
-As the U.S. awaits today's June jobs report, the Euro zone reported a slight increase in its unemployment rate for May from 7.3 percent to 7.4 percent.
HONG KONG PROTESTS
-370 Hong Kong residents were arrested Wednesday as China's new sovereignty and security law continues to take effect in the city. Meanwhile, the U.S. House of Representatives unanimously passed a new sanctions bill against China in response to the law.
MOVING AMERICA
-Tesla will report its second quarter delivery numbers after today's closing bell. Wall Street is expecting Tesla to have delivered 72,000 vehicles for the last three months, but a congratulatory email founder and CEO Elon Musk sent to employees Wednesday has investors expecting Tesla to beat the number. Tesla shares are up almost 7 percent in the premarket after gaining 4 percent Wednesday.
IPO MARKET
-Israeli insurance-tech company Lemonade has set the pricing of its IPO at $29 per share for a valuation of $1.6 billion - well up from the price range of $23-26 in its prospectus last week.