By Barry, Melody
Good morning moomooers! Here are things you need to know before the opening bell:
U.S. stock futures jump 170 points as stocks head for a winning weekStocks making the biggest moves in the premarket: Salesforce, Beyond Meat, HP Inc & more
Market Snapshot
Stock futures climbed on Friday and markets headed for a winning week, amid growing optimism over the U.S. economic recovery following strong labor market data.
Futures for the Dow Jones Industrial Average gained 171 points, or 0.5%. The move pointed to an opening gain of about 185 points. S&P 500 futures rose 0.4% and Nasdaq-100 futures added 0.3%.
The S&P 500 is up 1.08% week to date and sits less than 1% from a record. The blue-chip Dow is 0.75% higher over the same time period, while the Nasdaq has gained nearly 2%.
Source: Bloomberg
Crypto
The price of bitcoin took another hit on Friday morning as other cryptocurrencies including ether and doge also saw their values fall.
Bitcoin was trading at $35,904 around 6 a.m. ET and has fallen over 7% in the last 24 hours.
Premover
Stocks making the biggest moves in the premarket: Salesforce, Beyond Meat, HP Inc& more
$Salesforce.com Inc(CRM.US)$ - shares rose in the extended session Thursday and continue to climb in the premarket trading section today after the cloud-based customer-relationship management company topped Wall Street estimates and raised its outlook for the year.
$Beyond Meat Inc(BYND.US)$ - Beyond Meat shares up 4% premarket; earlier CNBC article highlights 'Beyond Meat soars as Bank of America names it a new Reddit stock to watch'.
$HP Inc(HPQ.US)$ - The tech company’s stock fell more than 5% in the premarket trading section today, despite HP beating the Street on its top and bottom lines in its second quarter. HP reported earnings of 93 cents per share on revenue of $15.88 billion, topping analysts’ estimates by 4 cents per share and revenue expectations of $15.02 billion, according to Refinitiv.
Top News
Biden budget said to assume capital-gains tax increase started in April
The leaders of the six biggest U.S. banks, testifying to Congress Thursday, each warned against a retroactive change to the capital-gains tax.
Dallas Fed's Kaplan ready to discuss pulling back on bond buying stimulus
The U.S. job market may be tighter than it appears based on common metrics, according to new research that counted Federal Reserve Bank of Dallas leader Robert Kaplan as a co-author.
Senate Republicans unveil $928 billion infrastructure offer
The proposal narrows the gap with the White House's latest $1.7 trillion offer as the two sides attempt to break an impasse over the scope of an infrastructure package and how to pay for it.
Small investors are winning big again
The spring resurgence in so-called meme stocks is the latest triumph for retail traders long derided as "dumb money."
Retailers race to keep Kayaks and TVs in stock
Dick's Sporting Goods and Best Buy are among the chains facing challenges finding products as American shoppers flood in.
Source: CNBC, Dow Jones Newswires, Bloomberg
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