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


Traders on the floor of the NYSE, July 6, 2022.

Source: NYSE

Here are the most important information investors need to start their trading day:

1. Can stocks stay on a winning streak?

The S&P 500 posted gains for four straight trading days ahead of Friday’s session, offering investors glimmers of hope that stocks could rebound in earnest from the worst first half for stocks in more than five decades. Futures contracts were mixed ahead of Friday’s open on Wall Street. Pre-market stocks fell as bond yields rose, following a stronger-than-expected June jobs report.

2. The jobs report in brief

A man walks past a “We’re Hiring” sign posted in Arlington, Virginia on June 3, 2022.

Olivier Douliery | AFP | Getty Images

Job growth picked up at a much faster pace than expected in June. Nonfarm payrolls rose 372,000 during the month, better than the Dow Jones estimate of 250,000, and continuing what has been a strong year for job growth, Bureau of Labor Statistics. The jobless rate was 3.6%, unchanged from May and in line with estimates.

3. Assassination in Japan

Japanese 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

A shocking development in Japan: Former Prime Minister Shinzo Abe was shot dead during a campaign event for the Liberal Democratic Party 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 sense of statehood. He resigned two years ago due to health issues. A suspect was reportedly taken into custody. There was no apparent indication of motive Friday morning.

4. The GameStop Redesign

A GameStop location in New York City on 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 chief financial officer Mike Recupero and announced layoffs as it pursues a turnaround plan. Cohen himself kicked Recupero out, a source told CNBC, because “he wasn’t culturally appropriate” and was “too indifferent.” Shares of the same stock fell during off-hours trading.

5. Levi increases its dividend

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

lucas jackson | Reuters

Shares of blue jeans giant Levi Strauss jumped after the company increased its dividend and announced quarterly results that beat Wall Street expectations. A big reason? More relaxed dress codes in the workplace, as people return to their desks as Covid restrictions ease. “Jeans are now much more acceptable in the office,” 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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