Stock Groups

5 things to know before the stock market opens Friday, Oct. 8

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These are the top news, trends, and analyses that traders need in order to get started with trading.

1. Prior to the employment report, stock futures and bond yields rise

Traders in New York City work at the New York Stock Exchange (NYSE), October 6, 2021.

Brendan McDermid | Reuters

U.S. stock futuresA slight advance was made Friday in anticipation of the September government employment report. The 10-year Treasury yieldIn the wake of the 8:30 AM jobs data, the stock market also saw a rise. ET trading around 1.6%This is a new record high, which was not reached since June. The market’s attention shifted to Washington’s debt ceiling agreement on Thursday. These are the Dow Jones Industrial AverageIt is the S&P 500The NasdaqAll rose by 1% logging three straight winning daysIt also put the stock benchmarks in line for a successful first trading week of October. Last Friday’s strong gain was not enough to turn the tide on the worst week for the S&P 500 and Nasdaq back to February and for the Dow back to early September.

2. The job growth in August is more than twice that of August.

Information is shared with people at a SoFi Stadium job fair on September 9, 2021 in Inglewood (California).

PATRICK T. FLALLON | AFP | Getty Images

Economists are expecting Friday’s job report to come out, and it will play a key role in the economic recovery. Federal ReserveIt is expected to reduce its Covid-era bond purchasing program. The September numbers will be 500,000, which compares with the 235,000 additional nonfarm jobs added last month. According to the National Labor Force Survey, September’s unemployment rate will drop from 5.2% August to 5.1% in September. The first jobless claims from the last week were made on Thursday were better than expected. ADP released Wednesday its look at the private sector job trends. showed a brisk pace of hiringLast month, despite fears about rising temperatures CovidCases

3. Senate votes in favor of a short-term increase in the debt ceiling; House will follow suit.

Washington, D.C., U.S., Wednesday, Oct. 6, 2021.

Bloomberg | Bloomberg | Getty Images

The Senate approvedThursday night, a compromise bill was passed that provides for a $480 billion short-term increase to the national debt ceiling. According to the Treasury Department, this sum would remain in effect until December 3, according to estimates. Now, the legislation moves to Congress where it will be heard by Speaker Nancy PelosiD-Calif. is expected to vote for it in the coming days. The measure does not avoid the Oct. 18 deadline to an unpredicted U.S. default. However, it gives Democrats almost two months to find a way to increase the debt limit via the reconciliation process without any Republican votes.

4. U.S. crude oil prices near $80/barrel, as natural gas prices rise

Midland’s Permian Basin oil well workers extract oil.

Benjamin Lowy | Getty Images

U.S. Oil Prices, As Measured by West Texas Intermediate crudeGood Friday Morning inched closerTo $80 per barrel WTI reached this level on Nov. 3, 2014. U.S. crude oil futures had risen 3.2% as of Thursday’s settlement price on doubtsThe U.S. would soon release crude oil from strategic reserves.

Natural gas pricesWhile they are lower than Friday’s, record levels of liquefied natural gases have been established as Asia and Europe vie for the available gas. Europe is buying LNG to protect its winter storage. To meet unsatiable demands, Asia has bought LNG.

5. Elon Musk: Tesla moves headquarters from California, Texas

During a media event, Elon Musk, Tesla CEO stands in front of the Tesla Gigafactory’s foundry. an.

picture Alliance | picture alliance | picture alliance | Getty Images

TeslaIt is now officially moving its headquartersFrom Palo Alto (California) to Austin (Texas), CEO Elon MuskAnnounced at the 2021 company annual shareholder meeting. Musk slammed California officials for their Covid-related temporary health orders in April 2020 on a Tesla earnings conference. He used expletive-laced language to attack them. Musk relocated from Los Angeles to Austin, Texas in 2020. He had been living there for 20 years. Tesla plans to continue production at the California facility regardless of whether or not it moves its headquarters.

— Reuters contributed to this report. You can follow all market activity like a professional. CNBC ProYou can read more. The latest information on pandemics is available here CNBC’s coronavirus coverage

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