Stock Futures Inch Higher Following Upbeat Employment Data

U.S. jobs data handily topped estimates for June

Deputy Editor
Jul 2, 2021 at 9:16 AM
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Stock futures are on the rise morning, as investors digest a better-than expected jobs report for June. According to the Bureau of Labor Statistics, 850,000 jobs were added last month, handily topping the expectation of 706,000 jobs, and rising considerably from the 559,000 jobs created in May. The unemployment rate did, however, climb slightly higher to 5.9%. Dow Jones Industrial Average (DJI) futures were last seen up 80 points, while futures on the S&P 500 Index (SPX) are signaling even more record highs for the index. Nasdaq-100 Index (NDX) futures are also sporting notable gains. 

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

  • The FAANG stock options bulls won't want to miss in July. 
  • How traders tripled their money with LI calls.
  • Plus, DNUT returns to public markets, SPCE founder set to take flight; and JNJ reports positive vaccine news. 

futures july 2

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.9 million call contracts traded on Thursday, compared to 859,737 put contracts. The single-session equity put/call ratio rose to 0.44 and the 21-day moving average stayed at 0.43.
  2. Freshly public Krispy Kreme Inc (NASDAQ:DNUT) are giving back of some of yesterday's gains, down 3.3% in electronic trading. The stock rose 23.5% on its first day as a publically trading company, returning to public markets five years after it was taken private. 
  3. Virgin Galactic Holdings Inc (NYSE:SPCE) announced that founder Richard Branson will be aboard its July 11 space flight, happening just nine days prior to Jeff Bezos' flight on Blue Origin -- the spacecraft he founded. SPCE is up 22.9% ahead of the bell. The stock has been cooling since gapping higher toward the $57 level last week, though it looks as if emerging support at the $43 has helped keep most of these gains in check. 
  4. Johnson & Johnson (NYSE:JNJ) is up 0.2% ahead of the bell, after the firm said its Covid-19 vaccine showed promising results in combating the easily transmissible Delta  variant, as well as other emerging strains, adding that its immune response for vaccinated people reached a span of eight months. JNJ is up 18.2% year-over-year. 

  5. Today's calendar will feature May's nonfarm payrolls, the unemployment rate, average hourly earnings, trade deficit, and factory orders.

OV Buzz Chart July 2

Overseas Markets Mixed as Investors Eye U.S. Jobs Data

Asian markets were mostly lower on Friday, as investors held their breath over the U.S. Labor Department’s monthly jobs report, which will be released later today. Pacing the laggards was China’s Shanghai Composite with a roughly 2% drop, followed by a 1.8% loss from Hong Kong‘s Hang Seng. Meanwhile, South Korea’s Kospi was slightly below breakeven with a 0.01% dip, while Japan’s Nikkei added 0.3%.

European markets are higher, on the other hand, while focus is also on stateside jobs data. In other news, euro zone producer prices climbed in May thanks to rising energy prices. More specifically, factory gate prices rose 1.3% month-over-month and 9.6% year-over-year. Plus, 130 countries pledged to support a U.S. proposal to establish a global minimum corporate tax of 15%. At last check, the German DAX has added 0.5%, London’s FTSE 100 is up 0.2%, and France’s CAC 40 is 0.1% higher.

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