movers who arrive before the doors open
In early pre-market action, U.S. stock futures were generally flat. After the US economy added 850,000 jobs in June, the Dow Jones soared more than 150 points on Friday.
At 9:45 a.m. ET, the US Services Purchasing Managers’ Index will be announced, while the ISM’s services index will be released at 10:00 a.m. ET. The ISM index is expected to remain at 63.5 in June, unchanged from the previous reading of 64.
The Dow Jones Industrial Average futures lost 3 points to 34,674.00, while the S&P 500 index futures declined 1.75 points to 4,341.00. The Nasdaq 100 index futures slid 3.50 points to 14,710.25.
The United States has the highest number of COVID-19 cases and deaths in the world, with a total of 33,723,150 infections and 605,560 deaths. In India, there were at least 30,619,930 verified cases, whereas in Brazil, there were over 18,792,510 confirmed cases.
Brent crude futures jumped 0.2 percent to $77.34 per barrel, while US WTI crude futures gained 1.6 percent to $76.33 per barrel. Baker Hughes Inc stated Friday that the total number of active U.S. oil rigs increased by four this week to 376.
A Glimpse of the World’s Markets
Today’s European stock markets were generally down. The Ibex Index in Spain lost 0.4 percent, while the STOXX Europe 600 Index increased 0.1 percent. The CAC 40 index in France down 0.4 percent, the FTSE 100 in London fell 0.1 percent, and the DAX 30 in Germany fell 0.4 percent. For June, the IHS Markit Eurozone construction PMI remained constant at 50.3. In July, the ZEW Indicator of Economic Sentiment for the Eurozone fell 20.1 points to 61.2, while retail sales increased by 4.6 percent in May. In May, German manufacturing orders plummeted 3.7 percent, compared to a revised 1.2 percent increase in April, while the ZEW Indicator of Economic Sentiment dropped 16.5 points to 63.3 in July. In June, the construction PMI in the United Kingdom rose to 66.3. In June, the IHS Markit construction PMI for France fell to 48.9 from 51.1 a month earlier. In May, Spain’s industrial production increased by 26.0 percent year over year.
Today’s Asian markets were neutral. The Nikkei 225 index in Japan increased 0.16 percent, while the Hang Seng Index in Hong Kong fell 0.25 percent and the Shanghai Composite Index in China fell 0.11 percent. The S&P/ASX 200 index in Australia declined 0.7 percent, while the BSE Sensex in India increased 0.1 percent. During its previous meeting, the Reserve Bank of Australia kept its cash rate at a record low of 0.1 percent, but revealed intentions to progressively withdraw its emergency policy support. In June, the IHS Markit Hong Kong PMI fell to 51.4 from 52.5 in May. In May, Japanese household expenditure climbed by 11.6 percent year on year, while average cash earnings increased by 1.9 percent.
Recommendation of a Broker
With an Overweight rating and a $260 price target, Piper Sandler begun coverage on Monday.com Ltd. (NASDAQ: MNDY).
Monday.com’s stock dropped 0.3 percent to $229.23 on Friday.
Other notable ratings can be found here.
News of the Day
On July 5, 1994, Jeff Bezos stepped down as CEO of Amazon Inc. (NASDAQ: AMZN), exactly 27 years after founding the e-commerce and cloud services behemoth.
Despite two consecutive months of declines, Apple Inc. (NASDAQ: AAPL) supplier Foxconn reported a high year-over-year increase in second-quarter revenue, as pandemic-induced demand for work-and-learn from home devices remains strong despite global semiconductor supply problems.
Alberto Calderon has been selected as the new CEO of AngloGold Ashanti Limited (NYSE:AU).
Elon Musk, the CEO of Tesla Inc (NASDAQ: TSLA), stated on Monday that the upgraded version of the electric vehicle maker’s full self-driving software release will also feature a new user interface.
Other breaking news can be found here.
(c) Benzinga.com, 2021. Benzinga does not offer financial advice. All intellectual property rights are reserved./n
