Here is what you need to know on Thursday, July 1:
Markets got a little pep talk at the yearly halftime break and have come out swinging to start the second half of the year. European markets are bulled up and strong while US futures are still in the locker room but set to come out for more records. Thursday may see a calm session ahead of the big jobs report on Friday. ADP employment points to strong gains and Wall Street expects 683,000 jobs to be added. The jobless claims number just out hit a low for the pandemic period since March 2020.
The dollar is flat on Thursday at 1.1865 versus the euro, WTI Oil is up strongly at $75.70, Bitcoin is lower by 5% at $33100, Gold is flat at $1775, and the VIX and the 10-year yield are steady at 15.7 and 1.47%, respectively.
European markets are higher, FTSE +0.4%, DAX +0.2% and EuroStoxx flat.
US futures are also higher, the Nasdaq is flat, but the Dow and S&P 500 are up 0.1%.
Wall Street top news
EU Manufacturing PMI 63.4 versus 63.1 forecast.
US jobless claims 364K for the week, a pandemic low.
Saudi Arabia and Russia have agreed to increase oil supplies, according to sources.
CureVac (CVAC) down 12% premarket on covid vaccine trial results.
Krispy Kreme (DNUT) begins trading today. I am hungry already.
Walgreens (WBA) up in premarket as results beat forecasts.
McCormick (MKC) up 1% premarket as results beat expectations–CNBC.
Novocure (NVCR) down 8% premarket on drug trial results.
Beauty Health (SKIN): Goldman thinks it is beautiful as it starts coverage with a buy rating.
JAZZ Pharma up 6% premarket as the company announces FDA approval for Rylaze.
XPeng (XPEV) reports 6,565 deliveries in June, up 617% YoY.
NIO delivers 8,083 vehicles in June. Shares up 2% premarket.
Tesla (TSLA) delivery data due this week, Deutsche scales back its forecast marginally from 207K to 200K–CnEVPost.
Upgrades, downgrades, premarket movers
Source: Benzinga Pro
Economic releases
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