5 things to know before the stock market opens on Friday July 8th

Traders on the NYSE floor, July 6, 2022.

Source: New York SE

Here is the key news investors need to start their trading day:

1. Can stocks remain on the road to success?

The S&P 500 posted four straight trading days ahead of Friday’s trading session, giving investors glimmers of hope that stocks could be making a serious recovery after the worst first half for stocks in more than five decades. Futures were mixed ahead of Friday’s Wall Street open. Stocks in the premarket fell as bond yields rose after a stronger-than-expected June jobs report.

2. Job report in focus

A man walks past a sign reading ‘We are hiring’ in Arlington, Virginia on June 3, 2022.

Olivier Douliery | AFP | Getty Images

Job growth accelerated much faster than expected in June. Nonfarm payrolls rose 372,000 for the month, better than the Dow Jones estimate of 250,000, continuing a strong year for job growth, according to data from the Bureau of Labor Statistics on Friday. The unemployment rate was 3.6%, unchanged from May and in line with estimates.

3. Assassination in Japan

Japan’s Prime Minister Shinzo Abe inspects an honor guard before a meeting of senior officers of the Self-Defense Forces at the Ministry of Defense September 17, 2019 in Tokyo, Japan.

Tomohiro Ohsumi | Getty Images

Shocking development from Japan: Former Prime Minister Shinzo Abe was shot dead at a Liberal Democratic Party campaign event in the city of Nara near Kyoto. Abe, 67, was Japan’s longest-serving prime minister and was known for his “Abenomics” stimulus policies and statesmanship. He resigned two years ago for health reasons. One suspect was reportedly in custody. As of Friday morning, there was no apparent evidence of the motive.

4. GameStop Shake

A GameStop location in New York, December 23, 2021.

Scott Mlyn | CNBC

A day after announcing a stock split, GameStop, the video game retailer chaired by activist investor Ryan Cohen, threw another curveball at investors. The company fired CFO Mike Recupero and announced layoffs as it pursues a turnaround plan. Cohen himself pushed Recupero out, a source told CNBC, because “he didn’t fit into the right culture” and was “too loose.” Shares of Meme Stock fell in after-hours trading.

5. Levi increases the dividend

Levi Strauss & Co. CEO Chip Bergh rings the opening bell on the New York Stock Exchange (NYSE) during the company’s IPO in New York, the United States, March 21, 2019.

Luca Jackson | Reuters

Shares in blue jean giant Levi Strauss soared after the company increased its dividend and announced quarterly results that beat Wall Street expectations. An important reason? Relaxed workplace dress codes as people return to their desks as Covid restrictions ease. “Jeans are much more acceptable in the office now,” CEO Chip Bergh told CNBC.

– CNBC’s Carmen Reinicke, Jeff Cox, Patti Domm, Arjun Kharpal, Melissa Repko, Lauren Thomas, and Ian Krietzberg contributed to this report.

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