Trish: Markets Mixed Amid Concerns About Weakening Jobs Growth

U.S. stock futures were mixed ahead of the release of ADP jobs data, which is expected to show slowing job growth.

Analysts estimate that the report by Automatic Data Processing Inc (ADP) will show 683,000 new positions in July, which is less form June’s 692,000. ADP is a private company that specializes in human resources management software and services.

The slowing job growth could be a sign that the real economy has already adapted to the Fed’s stimulus. It is also the likely result of Joe Biden’s generous unemployment benefits. 

Equities

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U.S. stock futures looked as though investors might be ready for a pause as the S&P 500 reached record levels. 

Level Chg. Chg. %
DOW Futures 34,964.00 -34 -0.10%
S&P 500 Futures 4,412.50 -2.5 -0.06%
Nasdaq Futures 15,054.50 8.25 0.05%

 

U.S. Dollar and Treasuries

Treasury yields were slightly up ahead of the release of July employment data. The yield on 10-year Treasuries was little changed. The dollar index was little changed. 

Price Chg. Chg. %
U.S. Dollar Index (DXY): 92.11 +0.03 (+0.03%)
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Yield Change
U.S. 1 Year Treasury Bill 0.068% -0.003
U.S. 2 Year Treasury Note 0.168% 0.004
U.S. 5 Year Treasury Note 0.641% 0.014
U.S. 10 Year Treasury Note 1.165% 0.036
U.S. 20 Year Treasury Bond 1.755% 0.006
U.S. 30 Year Treasury Bond 1.842% 0.012

 

Stocks To Watch

U.S. Food and Drugs Administration granted emergency authorization to Chembio’s DPP SARS-CoV-2 Antigen. The company recently received a $28 million order of its antigen test from Brazil. 

Alterity Therapeutics announced that it was granted a U.S. patent for iron chaperones designed to redistribute excess iron, which is the likely cause of many neurodegenerative diseases. 

Meme stocks are back in focus again. Wheeler Real Estate Investment Trust surged despite no company-related news.

The spike in retail investor interest pushed up Robinhood as well, which blew past its $38 price at the IPO. 

New Oriental Education is still experiencing increased trading volume after the Chinese crackdown on the online tutoring industry. 

Symbol Price Chg. Chg. % Volume
Alterity Therapeutics ATHE $1.64 +0.2750 +20.15% 3.26M
Chembio CEMI $3.94 +0.420 +11.93% 2.68M
Wheeler REIT WHLR $3.88 +0.630 +19.38% 1.26M
Robinhood HOOD $52.76 +5.96 +12.74% 992.78K
New Oriental Education EDU $2.32 +0.100 +4.50% 954.89K

 

Commodities To Watch

Oil dropped at the spread of the delta variant threatens demand. Gold dropped. 

Price Chg. %
WTI Crude Oil $70.21 -0.50%
Brent Crude Oil $72.23 -0.25%
Natural Gas $4.09 1.54%
Gold $1,816.80 0.15%
Corn $550.50 -0.23%

 

Crypto

The global crypto market cap decreased by -0.74% in the last 24 hours. 

Symbol Price Chg. % Market Cap.
Bitcoin BTC $38,167.36 -1.31% $716.59b
Etherium ETH $2,502.88 -0.38% $291.67b
Cardano ADA $0.1967 +2.75% $25.71b
Ripple XRP $0.7053 -1.62% $31.09b
Dogecoin DOGE $1.34 -1.18% $31.09b

 

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Trish Reganhttps://trishintel.com
Trish Regan is an award winning financial journalist, an American television talk show host and author who interprets political events through an economic lens.

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