STOCK NEWS: Dow rises, S&P, Nasdaq fall, Telsa shares split, Pfizer explores deal

US equity futures are mixed ahead of the most anticipated economic report of the month.

The main futures indices trade between gains and losses.

Oil traded choppy on Friday, attempting a rally from the previous session as concerns over supply shortages outweighed fuel demand concerns.

West Texas Intermediate crude was trading around $89.00 a barrel. Brent crude was at $94.00 a barrel.

The week’s key economic report comes before the opening bell when the Labor Department is expected to say the US economy added 250,000 new nonfarm jobs in July. “It’s not going to be like the 372,000 we saw in June,” said Joanie Bily, a workforce analyst at Employbridge. “We could see revisions and even see revisions to the June number.”

it would mark the weakest job growth since December 2020, consistent with other data showing the labor market cooling. The unemployment rate is expected to remain stable at 3.6% for the fifth consecutive month.

Shares of AMC Entertainment are down 7% in premarket trading after the company reported a bigger-than-expected loss and announced it will pay a special dividend in the form of preferred stock.

Shares of DoorDash are 11% higher in premarket trading after the company said it received a record number of customer orders in the second quarter, boosted by demand resilience and the acquisition of the service from Finnish delivery Wolt Enterprises.

The busiest second week of the second-quarter earnings season wraps up Friday morning with results from Goodyear Tire, data storage giant Western Digital, broadcasters Gray Television and AMC Networks, movie theater operator Cinemark Holdings and fantasy and sports betting giant DraftKings, among many others.

In Asia, Tokyo’s Nikkei 225 gained 0.9%, Hong Kong’s Hang Seng rose 0.2% and China’s Shanghai Composite advanced 1.2%.

On Wall Street, the benchmark S&P 500 closed 0.1% lower on Thursday as investors digested corporate earnings reports and awaited employment data.

The S&P 500 fell to 4,151.94 and the Dow Jones Industrial Average fell 0.3% to 32,726.82. The Nasdaq composite rose 0.4% to 12,720.58.


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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!