Here are the key news, trends, and analysis investors need to start their trading day:
1. Stock futures stable after a strong first half of 2021
The New York Stock Exchange welcomes Clear Secure, Inc. (NYSE: YOU) executives and guests to celebrate its IPO on June 30, 2021.
US stock futures were stable on Wall Street on Thursday, the first day of the third quarter. Investors hope the second half of 2021 will remain as strong as the first half. The Dow Jones Industrial Average rose 210 points on Wednesday and was within 0.8% of its last record high in early May. Dow stock Walgreens Boots Alliance rose roughly 2% early on the market after the drugstore chain announced strong quarterly results and outlook. It also revealed more details about its turnaround strategy. The S&P 500 ticked higher on Wednesday for its fifth record close in a row. The Nasdaq fell slightly from a record high in the previous session.
2. Wall Street numbers for June, second quarter and year to date
Wednesday was the last day of June, the second quarter and the first half of the year.
- Ahead of the new trading day, the S&P 500 rose 14.4% year-to-date. The Dow and Nasdaq are each up more than 12% so far in 2021. The S&P 500 and Nasdaq made gains in June. The Dow fell modestly. All three benchmarks made solid gains in the second quarter.
- US oil prices rose around 2.5% on Thursday to over $ 75 a barrel, their highest level since 2018. After the deal on Wednesday, West Texas Intermediate crude rose sharply in June and the second quarter. WTI increased by more than 51% over the course of the year.
- Bitcoin fell about 3% on Thursday but stayed above $ 33,000. The world’s largest cryptocurrency by market value, which hit an all-time high near $ 65,000 in April and recent lows below $ 29,000 last week, closed the first half of the year with a drop of about 47% from its record.
3. Bond yields rise after the low unemployment claims of the new Covid era
The 10-year government bond yield, which started below 1% in 2021 and climbed to a 14-month high of over 1.77% in March, rose to around 1.47% on Thursday. Before the bell came, investors got one more reading on the US job market. After two consecutive weeks of over 400,000, the government reported fewer than expected 364,000 new claims for unemployment benefits last week, a new low in the pandemic era. The government released its June employment report on Friday.
4. Krispy Kreme’s IPO prices are below the expected range and will debut again
Krispy Kreme donuts go into production at the opening of the store at Harrods in London, Great Britain, 03 October 2003.
David Bebber | Reuters
Krispy Kreme returns to the public markets on Thursday morning after trading 29.4 million publicly traded shares below the expected range of $ 17 per share. The IPO raised nearly $ 500 million and valued the donut chain at $ 2.7 billion. Krispy Kreme, founded in 1937, was privatized in 2016 by Keurig owner JAB Holding in a $ 1.35 billion deal. The IPO took place in 2000. The company is to be traded on Thursday on the Nasdaq under the ticker symbol “DNUT”.
In the largest US listing of a Chinese company since 2014, ride hailing giant Didi started trading Wednesday morning and ended the day with a valuation of more than $ 68 billion. A number of other companies, including Clear Secure and LegalZoom, made their debut on Wednesday.
5. Trump Organization and its CFO indicted by Manhattan Grand Jury
Allen Weisselberg, Chief Financial Officer of the Trump Organization, watches then-Republican presidential candidate Donald Trump during a press conference at Trump Tower in Manhattan, New York, on Jan.
Carlo Allegri | Reuters
The Trump Organization’s chief financial officer, Allen Weisselberg, surrendered to Manhattan prosecutors on Thursday after a grand jury indicted him and former President Donald Trump’s company in criminal proceedings over its business relationships. The charges against the company and Weisselberg, filed by a New York grand jury, are expected to be unsealed in Manhattan Thursday afternoon, a Trump representative told NBC News. NBC had previously reported that the charges were based on allegations by Weisselberg and other Trump Organization executives who received benefits without properly reporting them on their tax returns.
– NBC News and Reuters contributed to this report. Follow all market activity like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.