Upbeat Jobs Data, Vaccine News Boost Stock Futures

The U.S. hit a new Covid-19 vaccination record this weekend

Digital Content Manager
Apr 5, 2021 at 9:17 AM
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Stock futures are poised to kick off the first full week of April on a high note, thanks to upbeat vaccine news and job growth data. More specifically, nonfarm payrolls for March increased by 916,000 -- the highest jump since August 2020 -- accompanied by a 6% dip in the unemployment rate. Plus, the U.S. is continuing to make strides on the vaccination front, hitting a fresh record on Saturday and boosting the weekly average of new shots to over 3 million each day.

At last check, futures on the Dow Jones Industrial Average (DJI) are pointed firmly higher, eyeing a 252-point pop. Meanwhile, the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also looking to extend last week's wins, which came on the heels of a new infrastructure plan.

Continue reading for more on today's market, including:

  • Buy the dip on this Argentina-based tech name.
  • Checking in with Okta stock after its recent selloff
  • Plus, newspaper publisher pops on takeover bid; MRNA to fill vials with extra Covid-19 vaccine doses; and Tesla scores fresh delivery record.

OV Chart 0405

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 2.2 million call contracts traded on Friday, and 952,481 put contracts. The single-session equity put/call ratio stayed at 0.42 and the 21-day moving average fell to 0.46.
  2. Tribune Publishing Co (NASDAQ:TPCO) is up 0.7% before the bell, after Choice Hotels Chairman Stewart Bainum and billionaire Hansjorg Wyss proposed to take over the newspaper company for $680 million. The proposal is significantly bigger than the $635 million deal the publisher had with hedge fund Alden Global Capital.
  3. Pharmaceutical name Moderna Inc (NASDAQ:MRNA) is up 0.7% ahead of the open, following reports that the Food and Drug Administration (FDA) approved the company to fill vials of its Covid-19 vaccine with 15 doses, as opposed to 10 doses. Moderna noted the higher-dose vials could start being shipped in the next couple of weeks.
  4. The shares of Tesla Inc (NASDAQ:TSLA) are up 7.5% in electronic trading, after the electric vehicle company announced it delivered more than 10,000 units above fiscal first-quarter estimates, for a brand new record of almost 185,000 deliveries.
  5. The week kicks off the week with plenty of economic data for investors to unpack: the Markit services purchasing managers' index (PMI), the ISM non-manufacturing employment report for March, the ISM non-manufacturing PMI, as well as factory orders for March are due out today.

Buzz April 5

European, Asian Markets Quiet Amid Holiday Closures

Most markets in Asia were closed for holiday. However, Japan's Nikkei added 0.8%, while the South Korean Kospi gained 0.3%, despite LG Electronics dropping 2.5%, after announcing the closure of its smartphone business.

Meanwhile, European markets are closed as well, in celebration of the Easter holiday. There is still some news, however, with U.K. Prime Minister Boris Johnson set to outline England's next steps regarding Covid-19 and the reopening economy. 

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