Stock Market Today: Live Updates

The S&P 500 opened just above flat, while the Nasdaq Composite was up 0.15% shortly after 9:30 a.m. ET. The Dow lost 55 points, or about 0.1%.

—Pia Singh

June’s employment figures should prompt central bankers to cut rates this fall, according to Renaissance Macro Research.

“This is not a close call,” the firm wrote in a July 5 note on X. “Unemployment is rising and payroll growth is slowing. Labor market conditions are cooling. The Fed’s tradeoffs have changed. If they don’t cut this month, they should send a strong signal that a cut is coming in September.”

The unemployment rate rose to 4.1% in June, the Labor Department reported Friday, beating expectations that the jobless rate would hold steady at 4%. The U.S. economy added 206,000 jobs during the month, signaling continued strength in the labor market.

—Pia Singh

The June payrolls report showed a gain of 206,000 jobs for the U.S. economy, the Labor Department said Friday. Economists polled by Dow Jones had expected a gain of 200,000. The unemployment rate rose to 4.1%.

The June figure is lower than the previous month. The May reading was revised down from 272,000 to 218,000.

—Jesse Pound

These are the stocks that move the most in premarket trading:

• Macy’s — Shares of the retailer rose more than 6% after the Wall Street Journal reported that an investor group had raised its takeover bid.
• Tesla — The electric vehicle maker rose 2%, marking a continued comeback after second-quarter vehicle deliveries beat analysts’ estimates earlier this week.
• Novo Nordisk – The pharmaceutical giant’s U.S.-traded shares rose 1.9% premarket even after a Harvard study linked semaglutide, found in Novo Nordisk’s Ozempic and Wegovy, to an increased risk of a rare eye disease.

Read the full list of moving stocks here.

— Lisa Kailai Han

Stocks linked to the price of bitcoin fell after the cryptocurrency fell 5% to its lowest level since February as the now-defunct Mt. Gox exchange began repayments to creditors as expected.

Coinbase and MicroStrategy each lost 5% in premarket trading. Among miners, Iris Energy fell 8%, while CleanSpark dropped 5%. Marathon Digital and Riot Platforms fell 6% and 4%, respectively.

“Most of the selling has been attributed to Mt. Gox redemptions, although there are other factors at play,” Joel Kruger, chief market strategist at LMAX Group, told CNBC. “The narrative around the German government selling bitcoin has added to the downward pressure, which has only been exacerbated by leveraged long liquidations and a large technical break in bitcoin’s price below the May low of $56,500.”

“None of this was shocking or unexpected and there is nothing that has fundamentally changed the very positive outlook for Bitcoin and crypto assets. This suggests that further downside will be limited in favor of a strong recovery as players look to capitalize on the dip and build exposure in the medium to long term,” he added.

—Tanaja Macheel

With just one day left in the holiday-shortened trading week, the three major indexes are on track for gains.

The Nasdaq Composite and S&P 500 are up more than 2.5% and 1%, respectively, this week, both closing at new highs and hitting new intraday records on Wednesday.

The Dow is up 0.5% this week.

The New York Stock Exchange closed early on Wednesday and was dark on Thursday for Independence Day.

—Alex Harring

Traders await the all-important jobs report on Friday morning.

Economists surveyed by Dow Jones expect the following for June:

• The number of non-agricultural jobs will increase by 200,000.
• The unemployment rate remains stable at 4%.
• The average hourly wage increased by 0.3% compared to the previous month.
• The average hourly wage is 3.9% higher than in the same month a year ago.

Read more about what to expect here.

—Alex Harring, Jeff Cox

Futures tied to the S&P 500 futures were little changed shortly after 6 p.m. ET. Dow futures rose 0.1%, while Nasdaq 100 futures fell 0.2%.

—Alex Harring