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.
U.S. stock futures looked as though investors might be ready for a pause as the S&P 500 reached record levels.
|S&P 500 Futures||4,412.50||-2.5||-0.06%|
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.
|U.S. Dollar Index (DXY):||92.11||+0.03||(+0.03%)|
|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.
|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.
|WTI Crude Oil||$70.21||-0.50%|
|Brent Crude Oil||$72.23||-0.25%|
The global crypto market cap decreased by -0.74% in the last 24 hours.
|Symbol||Price||Chg. %||Market Cap.|