Stock Market Today: Live Updates

The S&P 500 opened nearly flat, while the Nasdaq Composite was up 0.15% just after 9:30 a.m. ET. The Dow was down 55 points, or about 0.1%.

Pia Singh

According to Renaissance Macro Research, June’s employment data should prompt the central bank to cut interest rates this fall.

“This is not a nuanced decision,” the firm said in a July 5 post on X. “Unemployment is rising and employment growth is slowing. Labor market conditions are cooling. The trade-offs for the Fed are shifting. If they don’t cut rates this month, they should send a strong signal that they will cut rates in September.”

The Labor Department said Friday that the unemployment rate rose to 4.1% in June, beating expectations that the rate would remain steady at 4%. The U.S. economy added 206,000 jobs in the month, signaling continued strength in the labor market.

Pia Singh

The Labor Department said Friday that the U.S. economy added 206,000 jobs in June. Economists surveyed by Dow Jones had expected a gain of 200,000. The unemployment rate rose to 4.1%.

The June figure was down from the previous month. The May figure was revised down from 272,000 to 218,000.

Jesse Pound

The most volatile stocks in premarket trading are:

• Macy’s — The retailer’s shares rose more than 6% after The Wall Street Journal reported that a group of investors had raised the company’s take-out prices.
• Tesla — The electric car maker rose 2%, signaling a continued recovery after reporting second-quarter vehicle deliveries that beat analysts’ expectations earlier this week.
• Novo Nordisk — The pharmaceutical giant’s U.S.-listed shares rose 1.9% in premarket trading despite a Harvard University study finding that semaglutide, the drug in Novo Nordisk’s Ozempic and Wegovy, is linked to an increased risk of a rare eye disease.

See the full list of stocks moving here.

— Lisa Kailai Han

Stocks tracking the price of Bitcoin fell after the cryptocurrency tumbled 5% to its lowest level since February after the now-closed crypto exchange Mt. Gox began paying back creditors as expected.

Coinbase and MicroStrategy were down 5% each in premarket trading. Among miners, Iris Energy fell 8% and CleanSpark was down 5%. Marathon Digital and Riot Platforms were down 6% and 4%, respectively.

“The bulk of the sell-off is due to Mt. Gox repayments, but other factors are also at play,” Joel Krueger, market strategist at LMAX Group, told CNBC. “News that the German government would sell bitcoin added to the downward pressure, which was further exacerbated by the liquidation of leveraged long positions and the technical break of bitcoin prices below the May low of $56,500.”

“None of this is shocking or unexpected, and nothing that would fundamentally change our very positive outlook for Bitcoin or crypto assets. It suggests that further declines will be limited and a strong recovery is in the cards as medium and long-term players look to use the dip to increase their exposure,” he added.

Tanaya Maciel

With only one day left in the week due to shortened trading hours due to public holidays, the three major indexes are trending higher.

The Nasdaq Composite and S&P 500 are up 2.5% and more than 1%, respectively, this week. Both indexes closed at record highs on Wednesday, setting new intraday records.

The Dow Jones Industrial Average rose 0.5% this week.

The New York Stock Exchange closed early on Wednesday and was closed on Thursday for Independence Day.

Alex Harring

Traders are awaiting the all-important jobs report on Friday morning.

Economists surveyed by Dow Jones have the following forecasts for June:

• Nonfarm payrolls increased by 200,000.
• The unemployment rate will stabilize at 4%.
• Average hourly wage increased 0.3% from the previous month.
• The average hourly wage increased 3.9% compared to the same month last year.

Find out more about what to expect here.

— Alex Harring, Geoff Cox

Futures tracking the S&P 500 were little changed just after 6pm ET. Dow futures were up 0.1%, while Nasdaq 100 futures were down 0.2%.

Alex Harring