Stock futures trade lower ahead of the June jobs report
U.S. equity futures traded lower Friday morning ahead of the most anticipated economic report of the month.
The major futures indexes suggest a decline of 0.5% when trading in the final session of this holiday-shortened week gets underway on Wall Street.
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Jobs report will offer fresh recession clues
The Labor Department’s monthly jobs report due out Friday is likely to show U.S. employers hired fewer workers last month than in May, and economists say the slowdown may serve as the latest recession clue.
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Elon Musk’s deal to buy Twitter in jeopardy: report
Tesla and SpaceX CEO Elon Musk’s $44 billion deal to purchase Twitter maybe in serious jeopardy, according to a Thursday report. People familiar with the proceedings told The Washington Post that Musk’s team has stopped having discussions about funding. Shares of Twitter were down more than 4% in premarket trading.
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Gasoline continues retreat
The average price of a gallon of regular gasoline slipped on Friday morning to $4.721, according to AAA. The price on Thursday was at $4.752. Gas has declined for 21 straight days. Diesel slipped as well to $5.675 down from $5.698
Oil set for second straight weekly loss
Oil prices traded lower as recession fears continued to weigh on sentiment. U.S. West Texas Intermediate crude traded at $101 a barrel. Brent crude futures traded at $104 a barrel after a nearly 4% rebound on Thursday.
Both contracts are set for their second straight weekly loss. U.S. crude saw a sharp sell-off on Tuesday, when WTI slid 8% and Brent tumbled 9%.
Bitcoin above $21,000
Bitcoin traded above $21,000 on Friday morning. The cryptocurrency has gained in three of the past four days.
Bitcoin is still off more than 15% month-to-date and down more than 53% year-to-date. Ether is trading around $1,200 and Dogecoin is at 7 cents.
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