Here are the top news, trends, and analysis that investors need to get their trading day started:
1. US stocks will fall for the fourth year in a row
Traders work on the trading floor of the New York Stock Exchange.
2. The yield on 10-year government bonds declines before unemployment claims
The Marriner S. Eccles Federal Reserve building is located in Washington, DC, United States on Tuesday, August 18, 2020.
Erin Scott | Bloomberg via Getty Images
The yield on 10-year government bonds early Thursday fell from its pop the previous day to 1.678% as minutes of the April Federal Reserve meeting indicated that central bankers might slow the pace of extraordinary purchases of Covid-era assets if the economy continues to recover rapidly. Investors will read the government’s weekly jobless claims report at 8:30 a.m. ET to see if the job market has improved. Economists expect the first unemployment benefit claims last week to total 452,000, compared to 473,000 the week before.
3. Bitcoin briefly tops $ 40,000 after the slump on Wednesday
A representation of the virtual currency Bitcoin can be seen in this illustration from May 19, 2021 in front of a stock graph.
Given Ruvic | Reuters
Bitcoin on Thursday soared just above and just under $ 40,000 after the wild ride of the past 24 hours that saw the world’s largest cryptocurrency soar 30% to three-month lows near $ 30,000 on Wednesday. That’s a drop of over 50% from last month’s all-time high of nearly $ 65,000. At Wednesday’s lows, the digital coin essentially broke even in 2021. However, over the past 12 months it has still increased by more than 200%. Bitcoin rebounded during Wednesday afternoon trading before pulling back later in the day and overnight.
4. Virgin Galactic will jump after the next space flight test scheduled for Saturday
Virgin Galactic’s Unity spacecraft fires its rocket engine and goes into space on February 22, 2019.
Virgin Galactic shares rose 17% on Thursday ahead of the market after the space tourism company announced it was targeting Saturday for its next space flight test. The company announced this after completing a maintenance check on its carrier aircraft that threatened delays. Virgin Galactic aims to begin commercial service in 2022. Before the pre-IPO surge, the stock was down 27% year-to-date and down 65% over the past three months. There was a big slump last week after Cathie Woods Ark Invest revealed that her company’s space exploration ETF had sold almost all of Virgin Galactic’s stake.
5. Star-studded Oatly plans to start trading on Wall Street
A carton of Oatly branded oat milk will be arranged for a photo in Brooklyn, New York on Tuesday, September 15, 2020. Photographer: Gabby Jones / Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images
Oatly will debut on the Nasdaq on Thursday after the IPO peaked at $ 17 per share, the expected range. The Swedish oat milk maker raised $ 1.4 billion and valued the company at $ 10 billion. Last year, Oatly raised $ 200 million in a funding round led by private equity firm Blackstone, including Oprah Winfrey, Natalie Portman, an entertainment firm founded by rapper Jay Z, and former Starbucks boss Howard Schultz.
– Reuters contributed to this report. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.