Premarket: 6 things to know before the bell
Economists surveyed by CNNMoney predict the economy gained 172,000 jobs in June, with the unemployment rate remaining at 4.3%, its lowest since 2001.
The U.S. economy has added jobs for 80 consecutive months, one of the longest streaks on record.
American wages are expected to rise 2.6% compared to a year ago. That’s better than in prior years but still below the Federal Reserve’s goal of 3.5% wage growth.
2. Watching the G20 summit: The G20 kicks off on Friday in Hamburg, Germany. The gathering of world leaders from 20 major economies is going to be closely watched, especially as President Trump is meeting with Russian President Vladimir Putin for the first time.
Differences over trade and climate change between Trump and other leaders could make for a tense meeting.
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3. Stocks to watch — Tesla, Samsung: Tesla (TSLA) continues to capture traders’ attention as it announced a big battery deal in Australia. Tesla stock is down 20% since hitting an all-time high in June.
Samsung(SSNLF) launches its Samsung Galaxy FE on Friday in South Korea. The smartphone is a cheaper, refurbished version of the Galaxy Note 7, a fire-prone model that sparked a global recall.
Samsung also announced its earnings guidance for the second quarter. It expects sales will hit 60 trillion Korean won ($ 52 billion) while operating profit will come in at around 14 trillion Korean won ($ 12 billion).
Shares in the tech firm closed the day with a 0.4% loss.
4. Global market overview: The negative mood from Thursday has carried into today.
Nearly every European market is declining in early trading and most Asian markets ended the week with losses.
But U.S. stock futures are holding fairly steady.
On Thursday, the Dow Jones industrial average, S&P 500 and Nasdaq saw falls of between 0.7% and 1%.
5. Big business Brexit meeting: Top British executives are meeting Friday with the U.K.’s top Brexit official, David Davis. They’ll be pressuring him to tread carefully with Brexit negotiations to protect business interests and jobs.
The Confederation of British Industry (CBI) issued a statement Thursday calling for the U.K. to remain in Europe’s unified market while the country is transitioning out of the EU.
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6. Coming this week:
Friday — Bureau of Labor Statistics releases June jobs report at 8:30 a.m.; G20 leaders meet in Hamburg, Germany
