Post by huh on May 5, 2017 6:50:20 GMT -5
10 things you need to know before the opening bell
The jobs report is coming. The US economy is expected to have added 190,000 nonfarm jobs in April as the unemployment rate ticked up to 4.6%, according to economists surveyed by Bloomberg. Additionally, average hourly earnings are expected to have held steady at up 2.7% year-over-year. The data will cross the wires at 8:30 a.m. ET.
Oil plunges suddenly. In a matter of 20 minutes, West Texas Intermediate crude oil tumbled 3.6% to a low of $43.76 a barrel. However, it has recovered its losses, and now trades little changed near $45.55.
Bitcoin is swinging violently. The cryptocurrency gained as much as 9% on Thursday, putting in a record high of $1,652 a coin before plunging below $1,500. On Friday, bitcoin trades up 6.4% at $1,598.
The 1st large Chinese-made passenger jet took off on its maiden voyage. The C919 took off from Shanghai Pudong International Airport, making China the fourth jumbo jet producer after the US, Europe, and Russia, Reuters says.
Warren Buffett unloads some of his IBM stock. Buffett sold one-third of Berkshire Hathaway's 81 million shares saying he "revalued it somewhat downward" from six years ago. Berkshire's annual meeting will take place on Saturday, and Business Insider will have full coverage.
ChemChina clinches its $43 billion takeover of Syngenta. "At the end of the main offer period on May 4, based on preliminary numbers, around 80.7 percent of shares have been tendered," the companies said in a joint statement. "Subject to confirmation in the definitive notice of interim results scheduled for May 10, the minimum acceptance rate condition of 67 percent of issued Syngenta shares has been met."
Shake Shack same-store sales whiff. The burger chain said sales at stores open at least a year fell 2.5%, missing the 0.2% growth that Wall Street analysts were expecting. Shake Shack shares sank more than 7% in extended trading on Thursday.
Stock markets around the world are lower. Hong Kong's Hang Seng (-0.8%) lagged in Asia and Germany's DAX (-0.3%) trails in Europe. The S&P 500 is set to open little changed near 2,391.
Earnings reporting slows down. Cigna, Cognizant, and Fannie Mae are among the names reporting ahead of the opening bell.
Aside from the jobs report, US economic data is light. Consumer credit will be released at 3 p.m. ET. The US 10-year yield is unchanged at 2.35%.
www.businessinsider.com/opening-bell-may-5-2017-5
The jobs report is coming. The US economy is expected to have added 190,000 nonfarm jobs in April as the unemployment rate ticked up to 4.6%, according to economists surveyed by Bloomberg. Additionally, average hourly earnings are expected to have held steady at up 2.7% year-over-year. The data will cross the wires at 8:30 a.m. ET.
Oil plunges suddenly. In a matter of 20 minutes, West Texas Intermediate crude oil tumbled 3.6% to a low of $43.76 a barrel. However, it has recovered its losses, and now trades little changed near $45.55.
Bitcoin is swinging violently. The cryptocurrency gained as much as 9% on Thursday, putting in a record high of $1,652 a coin before plunging below $1,500. On Friday, bitcoin trades up 6.4% at $1,598.
The 1st large Chinese-made passenger jet took off on its maiden voyage. The C919 took off from Shanghai Pudong International Airport, making China the fourth jumbo jet producer after the US, Europe, and Russia, Reuters says.
Warren Buffett unloads some of his IBM stock. Buffett sold one-third of Berkshire Hathaway's 81 million shares saying he "revalued it somewhat downward" from six years ago. Berkshire's annual meeting will take place on Saturday, and Business Insider will have full coverage.
ChemChina clinches its $43 billion takeover of Syngenta. "At the end of the main offer period on May 4, based on preliminary numbers, around 80.7 percent of shares have been tendered," the companies said in a joint statement. "Subject to confirmation in the definitive notice of interim results scheduled for May 10, the minimum acceptance rate condition of 67 percent of issued Syngenta shares has been met."
Shake Shack same-store sales whiff. The burger chain said sales at stores open at least a year fell 2.5%, missing the 0.2% growth that Wall Street analysts were expecting. Shake Shack shares sank more than 7% in extended trading on Thursday.
Stock markets around the world are lower. Hong Kong's Hang Seng (-0.8%) lagged in Asia and Germany's DAX (-0.3%) trails in Europe. The S&P 500 is set to open little changed near 2,391.
Earnings reporting slows down. Cigna, Cognizant, and Fannie Mae are among the names reporting ahead of the opening bell.
Aside from the jobs report, US economic data is light. Consumer credit will be released at 3 p.m. ET. The US 10-year yield is unchanged at 2.35%.
www.businessinsider.com/opening-bell-may-5-2017-5
