Business

5 things to know before the stock market opens Thursday, August 5th

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Wall Street looks higher after game-changing estimates

Traders listed on the New York Stock Exchange (NYSE), on August 4, 2021.

Andrew Kelly | Reuters

The government on Thursday morning said initial jobless claims for last week had dropped to 385,000, according to estimates. The previous week was revised slightly lower to 399,000. The latest reading on the ongoing claims, which runs a week behind the main weekly issue, has shown a sharp drop. The 10-year Treasury yield marked lower at about 1.18%, a day after falling to its lowest level since February. On Friday, the government will release its July employment report. Economists predict that 845,000 non-agricultural jobs were created last month after the June 850,000 increase.

2. Robinhood is retiring after a huge demonstration this week

Robinhood Markets, Inc. CEO and co-founder Vlad Tenev and co-founder Baiju Bhatt posed with the Robinhood signage on Wall Street after the company’s IPO in New York City, USA, on July 29, 2021.

Andrew Kelly | Reuters

3. Modern says Covid booster ‘robust’ against delta

Westbury, NY: A man receives the Modern COVID-19 vaccine while at the Long Island Federal Qualified Health Center in Westbury, New York, on April 29, 2021. (Photo by Steve Pfost / Newsday via Getty Images)

Steve Pfost | Newsday | Getty Images

4. Uber, Etsy, Roku see shares fall after earnings

Dara Khosrowshahi, CEO of Uber, speaks at a product launch event in San Francisco, California, on September 26, 2019.

Philip Pacheco | AFP via Getty Images

Josh Silverman, CEO of Etsy.

Adam Jeffery | CNBC

Etsy shares plunged 12% in the pre-market after the online craft market late Wednesday announced lower-than-expected user growth. Etsy made the first estimates with quarterly earnings of 68 cents per share. Revenues also beat projections. The stock was up 55% in the last 12 months.

Roku CEO Anthony Wood speaks on stage at The Future of TV Streaming & Entertainment during Tribeca X – Tribeca Festival 2021 at Spring Studios on June 18, 2021 in New York City.

Arturo Holmes | Getty Images

Roku shares fell more than 8% in the premarket on Thursday, a day after the video streaming device maker reported disappointing user growth. Roku shattered estimates with quarterly earnings of 52 cents per share. Revenues also exceeded estimates. The stock was up more than 150% in the last 12 months.

5. Biden will push EV targets for U.S. vehicle sales by 2030

US President Joe Biden makes remarks at the White House in Washington on August 3, 2021.

Jonathan Ernst | Reuters


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