Here are the most important news, trends and analysis that investors need to start their trading day:
1. Futures fell due to weaker employment growth; inferior in terms of lower unemployment rate
Traders work in the hall of the New York Stock Exchange (NYSE) in New York, January 6, 2022.
Brendan McDermid | Reuters
US stock futures fell on Friday after the latest government employment report showed weaker-than-expected job growth in December. The yield on 10-year Treasuries surpassed 1.76% after a lower-than-expected unemployment rate.
The Nasdaq fell on Thursday for the third day in a row after falling 4% in the previous two sessions. The tech index was 6% below its last record close in November. The S&P 500 and Dow Jones Industrial Average fell on Thursday, recording a three-day and two-day losing streak, respectively. They both hit record highs earlier this week.
Apple shares rose in premarket Friday. However, the stock fell 6% from its all-time high on Tuesday and surpassed the $ 3 trillion market value this week. Apple CEO Tim Cook received compensation in the amount of $ 98.73 million in the company’s 2021 fiscal year, according to an SEC report released on Thursday.
2. Hiring stumbles in December, with only 199,000 jobs created.
A sign in front of a job fair for employees not vaccinated against coronavirus disease (COVID-19) in Temecula, California, USA, December 4, 2021.
Denis Sometimes | Reuters
Ministry of Labor Friday morning’s December employment report showed that just 199,000 nonfarm jobs were added last month, less than half of what analysts had expected. The country’s unemployment rate fell more-than-expected to 3.9%. Average hourly wages are up more than expected as the US has the highest inflation rate in nearly 40 years.
Investors are looking at the numbers to see if they can influence the Federal Reserve’s plans to tighten monetary policy to ease price pressures. The stock market hit hard on Wednesday after the minutes of the Fed’s December meeting showed preparations for a balance sheet cut, in addition to a planned hike in interest rates and an accelerated cut in bond purchases.
3. GameStop grows on reports that it plans to go into crypto
Pedestrians pass in front of the GameStop retail store in New York on December 23, 2021.
Scott Mlyn | CNBC
Stock GameStop surged more than 20% in premarket Friday after The Wall Street Journal reported that the video game retailer plans to create a market for NFT, non-fungible tokens. GameStop also intends to partner with cryptocurrency to create games and items for the market, according to the magazine. The report suggests GameStop, which has been at the center of the retail trader meme frenzy, will emerge as one of the most touted tech sectors. GameStop shares jumped nearly 700% in 2021. However, as of Thursday’s close, the stock was down more than 70% from its all-time high of $ 483 in January 2021.
4. Moderna CEO Says Another Covid Booster Vaccine May Be Required
Image by Stefan Bansel of Moderna Therapeutics from a video of the company.
Source: Modern Therapy.
Effectiveness of Covid Vaccine Boosters likely to decline over time, and a fourth injection may be required next fall to strengthen protection, Moderna CEO Stefan Bansel said Thursday at Goldman Sachs’ influential health conference. Bunsell said people who got boosted this fall are likely to have enough protection to survive the winter, when infections tend to grow as people gather indoors to escape the cold. However, Bansel said the booster’s effectiveness is likely to decline over the next few months, similar to what happened with the first two doses of the Covid vaccine.
The U.S. Supreme Court Building at sunset in Washington, DC, Thursday, December 2, 2021.
Bill Clark | CQ-Roll Call, Inc. | Getty Images
On Friday, the Supreme Court will consider two major efforts by the Biden administration to raise the country’s Covid vaccination rate amid the surge in coronavirus cases due to the omicron variant. Judges in the conservative court ready to listen to arguments on whether to allow the administration to introduce a vaccination or testing requirement for large employers and a separate vaccination mandate for most health workers. The end result in the Supreme Court is likely to determine the fate of the vaccine needs affecting more than 80 million people.
– The Associated Press contributed to this report. Follow all market activity like a professional on CNBC Pro… Get the latest pandemic news with CNBC Coronavirus Coverage…