Updated June 4, 2021 9:01 am ET
AMC entertainment AMC -6.68%
and other meme stocks are still shaking as the broader market ticked higher after data showed the unemployment rate fell in May. We’ll see that before the opening bell on Friday.
- Futures linked to the S&P 500 gained 0.4%. Futures on the Dow Jones Industrial Average gained 0.3% and contracts on the technology-heavy Nasdaq-100 gained 0.5%. Read our full market report here.
- Bitcoin fell nearly 5% from its price at 9 p.m. ET Thursday after Tesla CEO Elon Musk posted breakup memes on Twitter,
Write “#Bitcoin” with a broken heart emoji.
- AMC stocks are down 7% early on the trading day, continuing Thursday’s big decline on Thursday’s plan to sell more stocks. Other stocks popular with retailers also fell; BlackBerry BB -12.72%
Lose 1.7%, GameStop GME -3.80%
lost 1.2% and Koss lost 5.3%.
- Employers created 559,000 jobs in May and the unemployment rate fell to 5.8%, boosting the labor market recovery from Covid-19.
- US factory orders for April, due at 10 a.m., is likely to have fallen by 0.2% on the previous month.
Market movers in view
DocuSign DOCU 19.76%
rose 6.8% ahead of the market after the company’s quarterly results and outlook for digital agreements surpassed Wall Street’s expectations.
Five under FIVE 6.98%
Shares jumped 5.7% before the bell. The retailer said first quarter net sales were up 197.6% from the first quarter of fiscal 2020.
Asana ASAN 6.52%
Shares rose 11% after the collaboration software company raised its forecast for the year as revenue slightly exceeded expectations.
Ford F -0.13%
Stocks added 2.6% ahead of the market, adding to gains from the previous session that came after the automaker said total U.S. sales rose 4.1 to 161,725 vehicles in May as SUVs rose and electrified vehicle sales offset declines in truck and car sales.
Ford Motor presented the new F-150 Lightning all-electric pickup truck on May 19, 2021 at an event in front of Ford headquarters in Dearborn, Michigan.
Dominick Sokotoff / Zuma Press
- In recent months, the stocks of companies that have built cars for decades have overtaken those of startups eager to take their place. On average, the 17 largest non-Chinese incumbents grew around 11% equally weighted over a three-month period. During the same period, the shares of 19 electric vehicle specialists fell 15%.
- Russia is set to remove the dollar from its sovereign wealth fund, but the central bank said Thursday it doesn’t expect the decision to seriously affect the market. The Russian ruble was little changed against the dollar, trading at 73.20 against the greenback.
- On that day in 1953, Woodcock, Hess & Co. of Philadelphia was founded as the first company to be listed on the New York Stock Exchange. Until then, all NYSE member firms were structured as partnerships.
Chart of the day
- Stocks of AMC Entertainment, GameStop, and other stocks popular with retail investors have risen in the past two weeks, a frenetic rally reminiscent of the excitement fueled by Reddit in late January.
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