While Dow Jones futures were up 0.63% at the time of writing, the S&P 500 futures rose 0.65%.
U.S. stocks appear set for a positive opening on Monday as investors eye a rebound following the selloff on Friday due to a weaker-than-expected jobs report.
Data from the Bureau of Labor Statistics on Friday showed that the total non-farm payrolls added in July were 73,000, lower than the Dow Jones estimate of 100,000. However, the BLS also revised downwards the numbers for May and June by a cumulative 258,000, spooking equity markets.
This drew a sharp reaction from President Donald Trump, who directed his team to fire BLS Commissioner, Dr. Erika McEntarfer.
While Dow Jones futures were up 0.63% at the time of writing, the S&P 500 futures rose 0.65%, and the tech-heavy Nasdaq 100’s futures gained 0.71%. Futures of the Russell 2000 index were up 0.66%.
Meanwhile, the SPDR S&P 500 ETF Trust (SPY) gained 0.55% at the time of writing, while Invesco QQQ Trust (QQQ) was up 0.75% on Monday morning. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘neutral’ territory.
Asian markets ended Monday’s trading session on a mixed note, with the KOSPI leading with gains of 0.9%, followed by the Shanghai Composite at 0.65%, and the Hang Seng at 0.59%.
The Nikkei 225 index tumbled 1.33%, while the TWSE Capitalization Weighted Stock index declined 0.24%.
Stocks To Watch
- Tesla Inc. (TSLA): The EV giant said co-founder and CEO Elon Musk has been awarded 96 million shares of the company, valued at nearly $29 billion as of Friday’s closing price. Tesla stock gained nearly 2% in the pre-market session.
- Palantir Technologies Inc. (PLTR): Palantir shares rose over 2% in Monday’s pre-market session ahead of the company’s second-quarter results. According to the consensus estimates compiled by Fiscal.ai, Palantir is expected to report earnings per share (EPS) of $0.14 and revenue of $939.47 million.
- Boeing Co. (BA): Boeing’s defense workers are scheduled to strike at midnight Monday following the rejection of the latest contract offer.
- Berkshire Hathaway Inc. (BRK-A) (BRK-B): Warren Buffett-led Berkshire Hathaway reported a 4% year-on-year decline in its operating profit to $11.16 billion in the second quarter, with cash of $344.1 billion on its balance sheet.
- ON Semiconductor Corp. (ON) and Tyson Foods Inc. (TSN) are among the companies reporting their latest results on Monday.
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