| What to watch today: Stock futures drop after worst day for Dow, Nasdaq since 2020 | | |  | FRI, MAY 06, 2022 | | | | AS OF FRI, MAY 06, 2022 • 09:12 ET | | Dow Jones Fut | | 32,997.97 | | Current: | 32,723.00 | | Change: | -187.00 | | Impl. Open: | -179.97 | | | S&P 500 Fut | | 4,146.87 | | Current: | 4,114.00 | | Change: | -29.25 | | Impl. Open: | -27.37 | | | NASDAQ 100 Fut | | 12,850.55 | | Current: | 12,738.75 | | Change: | -119.25 | | Impl. Open: | -108.30 | | | Russell 2000 Mini | | 1,871.15 | | Current: | 1,858.60 | | Change: | -9.50 | | Impl. Open: | -9.05 | | | The Labor Department on Friday morning reported a better-than-expected 428,000 nonfarm jobs were added to the U.S. economy in April. The unemployment rate last month held steady at 3.6%. A slight dip had been expected. Average hourly earnings in April rose a slightly less-than-expected 0.3% month over month and matched estimates with a 5.5% year over year gain. (CNBC) | | | | U.S. oil prices rose roughly 1.5% on Friday, around $110 per barrel, shrugging off concerns about global economic growth as proposed European Union sanctions on Russian oil raised the prospect of tighter supply. West Texas Intermediate crude, the American benchmark, and the Brent crude global benchmark were both on track for second straight weekly gains. (Reuters) | | | | Bitcoin fell below $36,000 on Friday, one day after Wall Street's nosedive. The world's largest cryptocurrency, touted by proponents as an inflation hedge, remained correlated to the Nasdaq, falling or rising in tandem with tech stocks. Bitcoin has dropped nearly 50% from its all-time high of more than $68,000 in November. (CNBC) | The FDA has decided to limit the use of Johnson & Johnson's Covid vaccine for adults due to the risk of a rare blood clotting syndrome. The J&J's vaccine is one of the three cleared for use in the United States. The FDA said Thursday the J&J shot can be administered in cases where Pfizer or Moderna Covid vaccines are not accessible or if an individual doesn't want to get the other shots. (Reuters)
* China s Xi urges officials to resolutely fight those who question zero-Covid (CNBC) | | | | Bausch + Lomb priced its IPO at $18 a share Thursday, falling short of expectations as it became the first big company in months to try going public into a turbulent stock market. Bausch Health Cos., the parent company, raised $630 million in the offering. (WSJ) | | | | President Joe Biden is set to announce at an event in Ohio on Friday that five major U.S. manufacturers, GE Aviation, Honeywell, Lockheed Martin, Raytheon and Siemens Energy, have made commitments to boost their reliance on small and medium American firms for 3D printing. (AP) |  | Cigna (CI) reported an adjusted quarterly profit of $6.01 per share, compared with a $5.18 consensus estimate, and revenue was also above analyst forecasts. Cigna's results were boosted by strong growth in its pharmacy benefits management business, among other factors. | | | | DraftKings (DKNG) rallied 9.8% in premarket action following its quarterly results. The sports betting firm reported a loss for the quarter but revenue was better than expected with increases in monthly unique paying customers and average revenue per customer. DraftKings also raised its full-year revenue guidance. | | | | Shake Shack (SHAK) fell 2.8% in premarket trading despite a narrower-than-expected quarterly loss and revenue that beat Wall Street forecasts. The restaurant chain issued a lighter-than-expected outlook as it deals with rising costs for beef, chicken and other commodities. | | | | Block (SQ) surged 5% in the premarket, despite both profit and revenue missing analyst estimates. The fintech firm's operating earnings exceeded forecasts, and it said it had not seen any deterioration in consumer spending. | | | | Virgin Galactic (SPCE) slid 4.9% in premarket trading after the company said it would delay the launch of its commercial space flight service until the first quarter of 2023, blaming labor and supply chain issues. Analysts are also concerned about Virgin Galactic's cash burn levels. | | | | DoorDash (DASH) posted a wider-than-expected quarterly loss, but the food delivery service's revenue exceeded analyst estimates with total orders topping the 400 million mark for the first time. The stock surged 6% in the premarket. | | | | Peloton (PTON) is exploring the sale of a sizable minority stake in the fitness equipment maker, according The Wall Street Journal. The stake being discussed is said to be around 15% to 20%, although there's no guarantee a deal will be finalized. Peloton fell 1.8% in premarket trading. | | | | Zillow Group (ZG) tumbled 13.9% in the premarket after issuing a weaker-than-expected forecast, citing an uncertain real estate environment. The real estate website operator reported better-than-expected profit and revenue for its latest quarter. | | | | Live Nation (LYV), parent of Ticketmaster and other entertainment operations, reported a smaller-than-expected loss for its latest quarter, with strong demand from customers and advertisers. Live Nation added 2.2% in the premarket. | | |
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