[ad_1]
Here are the most important news, trends and analysis investors need to start their trading day:
1. Stocks Look Steady, Bond Yields Rise After Strong Jobs Data
A trader works in the trading floor of the New York Stock Exchange (NYSE) in New York, August 5, 2021.
Andrew Kelly | Reuters
2. Non-farm wages in July were higher than expected
The Labor Department said Friday that the US economy created 943,000 new non-farm jobs in July. The country’s unemployment rate fell to 5.4%. It’s also a lot better than expected. Average hourly wages also rose more than expected, increasing 0.4% for the month.
3. United Airlines to Require Vaccines for Its 67,000 US Employees
United Airlines pilot Steve Lindland receives a COVID-19 vaccine from RN Sandra Manella at United’s on-site clinic at O’Hare International Airport on March 9, 2021 in Chicago, Illinois.
Scott Olson | Getty Images
United Airlines will require its 67,000 American employees to get vaccinated against Covid by October 25 at the latest on pain of termination, a first for major American carriers who will likely increase the pressure on their rivals. Airlines, including United, have resisted vaccination mandates for all workers, instead offering incentives like extra pay or time off to get vaccinated. Delta Air Lines began in May requiring newly hired employees to show proof of vaccination. United followed suit in June.
4. The White House supports senators who demand stricter cryptographic reporting rules
The White House weighed in, somewhat out of the blue, in a controversial battle over competing crypto amendments to the $ 1,000 billion infrastructure bill. The fight is over a provision in the bipartisan bill, which raises funds through stricter tax rules on cryptocurrency transactions. The White House wrote in a statement Thursday night that “the amendment proposed by Senators Warner, Portman and Sinema strikes the right balance and takes an important step forward in promoting tax compliance.”
5. JPMorgan discreetly unveils access to half a dozen crypto funds
A woman walks past JPMorgan Chase &; Co’s international headquarters on Park Avenue in New York City.
Andrew Burton | Reuters
JPMorgan Chase, led by bitcoin skeptic Jamie Dimon, began giving its wealth management clients access to six crypto funds over the past month. Financial advisers were allowed to begin placing private bank clients in a new bitcoin fund set up with crypto firm NYDIG on Thursday, according to people with knowledge of the move. The fund is almost identical to what NYDIG offers to clients of rival bank Morgan Stanley, the people said. At the end of last month, JPMorgan opened up access to four funds from Grayscale Investments and one from Osprey Funds.
– Follow all market actions like a pro on CNBC Pro. Get the latest pandemic news with CNBC’s coronavirus coverage.
[ad_2]
Source link