Here are the most important news, trends and analysis investors need to start their trading day:
1. Dow Futures Rise After Fed Keeps Rates Near Zero
Andrew Kelly | Reuters
- In stocks to watch: Dow Merck stock fell into pre-market after the drug marker matched estimates with quarterly earnings and beat earnings expectations. Amazon announces its profits after the bell Thursday.
- Trevor Milton, founder of Nikola, has been charged with three counts of fraud by the US attorney’s office in Manhattan as part of its investigation into the ailing electric vehicle start-up. Shares of Nikola, which have lost more than half of their value in the past 12 months, fell 6% in pre-market trading on Thursday.
- Uber Technologies fell 5.1% in pre-market trading after sources told CNBC that Japanese investment giant Softbank was selling part of its stake in Uber to cover losses from its investment in another carpooling company, Didi Global.
- Didi himself is in the news, denying a previous Wall Street Journal report that he was considering going private. Didi had increased by more than 30% in pre-marketing before this refusal, before reducing this still significant gain to 17.5%.
2. Latest GDP, initial jobless claims lower than expected
The Labor Department also reported ahead of the opening bell on Wall Street that initial jobless claims stood at 400,000 last week, slightly worse than expected. The level of the previous week has been revised to 424,000. Initial claims for the week ended July 10 out of 368,000 matched last month’s Covid-era low.
3. Robinhood to make public debut after pricing the IPO
Kimberly White | Getty Images Entertainment | Getty Images
- Earlier this year, during the initial stock market frenzy, Robinhood angered some investors and lawmakers when it restricted trading in some popular stocks following a tenfold increase in filing requirements at its clearinghouse. .
- The company revealed this week that it has received regulatory requests from the United States on whether its employees traded in GameStop and AMC Entertainment shares before trading restrictions were placed in late January.
- In June, Robinhood agreed to pay nearly $ 70 million to settle an investigation by Wall Street’s own regulator.
4. Facebook warns of growth and defines mandate for vaccines
Josh Edelson | AFP | Getty Images
Facebook will require workers returning to its U.S. offices to be vaccinated, the company said on Wednesday. “How we implement this policy will depend on local conditions and regulations,” Facebook executive Lori Goler said in a statement. Facebook will create processes for those who cannot be vaccinated for medical or other reasons, Goler said, adding that the company will continue to evaluate its approach outside of the United States.
5. Disney and Apple Reinstate Covid Mask Requirements
Joe Burbank | Sentinelle d’Orlando | Getty Images
Angela Weiss | AFP | Getty Images
– Reuters and CNBC Peter Schacknow contributed to this report. Follow all market actions like a pro on CNBC Pro. Get the latest pandemic news with CNBC’s coronavirus coverage.