1. Stock futures regain lost ground after better-than-expected U.S. jobs report
U.S. stock futures regained lost ground Friday morning after the government reported that the number of payrolls had risen by a better-than-expected 1.763 million in July. Economists polled by Dow Jones had projected 1.264 million new jobs. The unemployment rate fell from 11.1% to 10.2%, also better than Dow Jones estimates. After the report, Dow Jones Industrial Average futures neared breakeven after moderate losses earlier in the premarket. S&P 500 and Nasdaq 100 futures were down fractionally. The major stock indexes entered Friday's session riding strong weekly gains. The Dow and Nasdaq were up more than 3% for the week and the S&P 500 has gained 2.4%.
2. Trump signs executive orders banning U.S. transactions with WeChat and TikTok parent companies
President Donald Trump signed executive orders Thursday night banning U.S. companies from doing business with Tencent and ByteDance, respective parent companies of WeChat and TikTok. The ban will take effect in 45 days. "The United States must take aggressive action against the owners of TikTok to protect our national security," Trump said in one executive order. In the other order, Trump said WeChat "automatically captures vast swaths of information from its users. This data collection threatens to allow the Chinese Communist Party access to Americans' personal and proprietary information." Tencent's Hong Kong-listed shares dropped 5% over night.
US President Donald Trump speaks to the press in the Brady Briefing Room of the White House in Washington, DC, on July 28, 2020.
Jim Watson | AFP | Getty Images
3. Uber shares slide on bigger-than-expected quarterly loss
Dara Khosrowshahi, CEO of Uber, appears on CNBC's Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan,. 22nd, 2020.
Adam Galici | CNBC
4. Bernie Sanders proposes big one-time tax on billionaires
Democratic presidential hopeful Vermont Senator Bernie Sanders participates in the 11th Democratic Party 2020 presidential debate in a CNN Washington Bureau studio in Washington, DC on March 15, 2020.
Mandel Ngan | Getty Images
5. China says exports unexpectedly rose in July
China reported a 7.2% increase in exports thanks in large part to strong demand for medical supplies due to the coronavirus pandemic. Economists polled by Reuters expected exports to fall by 0.2%. However, Martin Rasmussen of Capital Economics said the upside to Chinese exports growth may be bounded by limited demand for pandemic-related products.
Excavators are concentrated on the wharf for export. Lianyungang, Jiangsu Province, China, May 5, 2020.
Costfoto | Barcroft Media | Getty Images
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August 07, 2020 at 06:53PM
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5 things to know before the stock market opens on Friday - CNBC
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