5 things to know before the stock market opens Thursday

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Rajendra Choudharyhttps://livetimesnews.com
Rajendra Choudhary is The Founder & CEO of Live Times Media Pvt. Since 2019 He Started his Digital Journey and Built a Victory in The Media and Education Industry with over 5 Websites and Blogs.

5 things to know before the stock market opens – Here are the most important news, trends and analysis that investors need to start their trading day:

1. Stock futures steady after turning in a strong first half of 2021

The New York Stock Exchange welcomes executives and guests of Clear Secure, Inc. (NYSE: YOU), on June 30, 2021, in celebration of its Initial Public Offering.

US stock futures were higher on Wall Street on Thursday, the first day of the third quarter. Investors expect the second half of 2021 to be as strong as the first half. The Dow Jones Industrial Average climbed 210 points on Wednesday, running within 0.8% of its latest record set in early May. Dow stock Walgreens Boots Alliance rose about 2% in the premarket after the drugstore chain reported strong quarterly results and outlook. It also revealed a turnaround strategy. The S&P 500 hit its fifth-straight record close on Wednesday. The Nasdaq fell slightly below the record level of the previous session.

5 things to know before the stock market opens Thursday

2. Wall Street’s June, second quarter and year-over-year numbers

Wednesday was the last day of June, the second quarter and first half of the year.

Before the new trading day, the S&P 500 was up 14.4% year to date. The Dow and Nasdaq were up more than 12% so far in 2021. The S&P 500 and Nasdaq turned in gains for June. The Dow dropped marginally. All three benchmarks were up solid in the second quarter.
US oil prices rose nearly 2.5% on Thursday to rise above $75 a barrel, the highest level since 2018. As of Wednesday’s settlement, West Texas Intermediate crude was up strongly in June and in the second quarter. WTI was up over 51% for the year.

Bitcoin is down almost 3% on Thursday but remains above $33,000. The world’s largest cryptocurrency by market cap, which saw an all-time high near $65,000 in April and below $29,000 last week, closed down nearly 47% from its record in the first half of the year.

5 things to know before the stock market opens Thursday

3. Bond yields higher before weekly unemployment claims data

The 10-year Treasury yield, which started below 1% in 2021 and rose above a 14-month high of 1.77% in March, rose to 1.48% on Thursday. Investors get another reading on the US labor market when the government releases its weekly look at jobless claims at 8:30 a.m. ET. After two straight weeks above 400,000, economists expect 390,000 new filings for unemployment benefits last week. It is not as low as in the pre-Covid era in June. The government releases its June employment report on Friday.

4. Krispy Kreme IPO Prices Below Expected Range

Production of Krispy Kreme donuts began at the opening of a store in Harrods in London, UK, on ​​3 October 2003.

Krispy Kreme returned to the public markets on Thursday morning after the price of 29.4 million initial public offering shares fell short of an expected range at $17 a share. The IPO raised approximately $500 million, valuing the donut chain at $2.7 billion. Krispy Kreme, founded in 1937, was taken private by Keurig owner JAB Holding in a deal worth $1.35 billion in 2016. It first went public in 2000. The company is set to begin trading on the Nasdaq on Thursday under the ticker symbol “DNUT.”

In the largest US listing by a Chinese company since 2014, ride-hailing giant Didi began trading Wednesday morning and ended the day with a valuation of more than $68 billion. Several other firms, including Clear and LegalZoom, debuted on Wednesday.

5. The Trump Organization and its CFO indicted by a Manhattan Grand Jury

Trump Organization Chief Financial Officer Alan Weiselberg was then the U.S. Republican presidential candidate Donald Trump speaks during a news conference at Trump Tower on May 31, 2016 in Manhattan, New York.

The Trump Organization’s chief financial officer, Alan Weiselberg, surrendered at the Manhattan District Attorney’s office on Thursday after a grand jury indicted him and former President Donald Trump’s company in a criminal case over their business deals. A representative for Trump told NBC News that the indictments handed down by a New York grand jury against the firm and Weiselberg are expected to be dismissed in court in Manhattan on Thursday afternoon. NBC previously reported the center of the allegations centered around allegations of Wesselberg and other Trump Organization officials receiving benefits without properly reporting them on their tax returns.

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