Here are five things you need to know by Friday, September 3rd:
1. – Report on the future of the actions on the progress of the works
U.S. equities futures rose again on Friday, after another set of records closed for the S&P 500 and Nasdaq last night as investors prepared for what could be a crucial August employment report before the start of negotiations.
Analysts estimate job creation slowed last month as Delta variant infections increased and supply chain disruptions slowed some activity in the manufacturing and hose sectors, with forecasts suggesting that 750,000 new net jobs will be added to payrolls in August, down from July’s 943,000.
A softer-than-expected reading, or indeed a surprise jump in hiring, could change the way investors view the Federal Reserve’s reduction schedule (the pace at which the central bank will slow its 120 billion dollars in monthly bond purchases) and overall boost of post-COVID recovery during the last months of the year.
Futures contracts tied to the Dow Jones Industrial Average indicate a modest gain of 50 points above the 8:30 a.m. data release, with those tied to the S&P 500 priced at 6 points higher than the record high last night of 4,537.01 points.
Technology stocks are also rising and, with yields on the 10-year Treasury note remaining south of 1.3%, the Nasdaq Composite index will gain about 7 points at the start of trading.
2. – Japanese Prime Minister Suga retires, stocks soar
Harassed Japanese Prime Minister Yoshihide Suga surprised Asian markets on Friday by announcing plans to step down in the coming weeks, ending an unpopular tenure at the helm of the world’s third-largest economy.
Suga, 72, took over as prime minister after Shinzo Abe’s resignation, but has struggled to maintain initial enthusiasm for his leadership in the face of rising coronavirus infections and the perception of mismanagement. of the economy. Suga’s successor is likely to face national elections in October.
Japan’s Nikkei 225 rose 2.05% to close at a three-decade high of 29,128.11 points after news of Suga’s departure, with investors betting that its replacement could trigger a new round of fiscal incentives for pandemic and export-focused success.
3. – Broadcom sees 5G betting increasing revenue
Broadcom (AVGO) – Get the Broadcom Inc. report shares only rose modestly on Friday after the network team and semiconductor maker forecast stronger-than-expected current quarter earnings after beating Wall Street earnings forecasts late last night.
Broadcom, a major provider of Apple AAPL, is betting on increased investment in 5G to increase sales in its wireless division and has revenue of about $ 7.355 billion for the November quarter.
During the three months ending Aug. 1, Broadcom earned a $ 6.88 per share drop in sales of $ 6.755 billion.
“Looking to the future, we see service providers like AT&T T, British Telecom and even Deutsche Telekom deploying next-generation next-mile fiber connectivity to growing homes in the United States and around the world. “CEO Hock Tan told investors at a conference call late Thursday. “These multi-year, multi-million dollar investments by these operators and connected to each of these fiber nodes need WiFi connectivity for the last 100 feet of homes and today we are leading the global transition to WiFi 6.”
Broadcom shares were up 0.8% higher in pre-market trading on Friday to indicate an initial bell price of $ 495.90 each.
4. – Virgin Galactic Grounded
U.S. officials landed Virgin Galactic ‘SpaceShipTwo’, of billionaire Richard Branson, for new flights following an investigation into the spacecraft’s smooth running since its first flight into space in early July.
The U.S. Federal Aviation Administration said SpaceShipTwo “deviated from the air traffic control permit when it returned to Spaceport America” in New Mexico, adding that it will not allow the aircraft to make further flights. until he is satisfied that there was no public danger during the July 11 Voyage, known as “Unity 22,” the first for a commercial ship.
Virgin Galactic shares were up 0.23% lower in pre-market trading on Friday to indicate a starting bell price of $ 25.93 each.
5. – The governor of Ohio seeks answers in Bishop Sycamore Fiasco
Ohio Gov. Mike DeWine has called for an investigation into the football program, as well as the mysterious origins, of the now infamous Bishop Sycamore High School.
Bishop Sycamore, a newly established online academy that seems to have no fixed address, little funding and no classrooms or teachers, runs a high school football program in Columbus, Ohio, which went to Walt Disney’s DIS ESPN last week nationwide. televised game against the powerful Florida-based IMG Academy.
After losing 58-0 in a match that was even more unbalanced than the final result, reports began to appear about the nature of the school, the age of the players involved and the background of the coaches and administrators associated with what is now many say ‘fake school’.
“Like many Ohioians, I am concerned about recent reports and questions raised about Bishop Sycamore,” DeWine said in a statement. “I have asked the Ohio Department of Education to conduct an investigation into Bishop Sycamore to ensure compliance with Ohio law and to ensure that the school provides the educational opportunities that Ohio students deserve.”