Morning Briefing: Billionaire space flight turns into space fight?

Moomoo Breakfast US joined discussion · Jul 2, 2021 19:25

By Melody

Good morning moomooers! Here are things you need to know before the opening bell:
- U.S. stock futures are little changed ahead of key June jobs report.
- Stocks making the biggest moves in the premarket: Virgin Galactic Holdings, Marin Software, Pop Culture Group, Eco Wave Power Global &more

Market Snapshot

Futures contracts tied to the major U.S. stock indexes were flat on Friday as Wall Street awaited the key June jobs report and another glimpse at the recovering U.S. labor market.
Contracts tied to the Dow Jones Industrial Average and the S&P 500 were little changed, while Nasdaq 100 futures traded in slightly positive territory.

Source: Bloomberg

Crypto

The two top cryptocurrencies by market capitalization - $Bitcoin (BTC.CC)$ and $Ethereum (ETH.CC)$ - were down 1.65% and 4.58% at $32,964 and 2,033 respectively.

Source: moomoo

Premovers

Stocks making the biggest moves in the premarket: Virgin Galactic Holdings, Marin Software, Pop Culture Group, Eco Wave Power Global& more

$Virgin Galactic (SPCE.US)$ Branson is due to board a test flight of Virgin Galactic’s SpaceShipTwo Unity on July 11 as a private astronaut. The Company Tweeted on Thursday: Join us July 11th for our first fully crewed rocket-powered test flight, and the beginning of a new space age.
SpaceX CEO Elon Musk Blue Origin CEO Bob Smith took digs at Sir Richard Branson, the founder of Virgin Galactic Holdings Inc Thursday over his upcoming space flight.

“We wish him a great and safe flight, but they’re not flying above the Kármán line and it’s a very different experience,” Smith reportedly said.

Musk too made light on Twitter of a meme posted by a Twitter user which made fun of the barbs exchanged by Bezos and Branson, with a $Dogecoin (DOGE.CC)$ .

On Thursday, shares of Virgin Galactic soared 27.32% to $54.99 in the after-hours after news of Branson’s flight emerged. It is currently up 27.85% in premarket.

$Marin Software (MRIN.US)$ Shares of low-float Marin Software are trading 13.13% higher in premarket amid continued extreme volatility and volume in the stock from investors following the company's Instacart Ads integration announcement.

$Pop Culture (CPOP.US)$ Pop Culture Group Co shares are trading 5.28% higher in premarket on continued volatility following Wednesday's IPO.

$Eco Wave Power (WAVE.US)$ Eco Wave Power Global shares rallied in their stock market debut on Thursday after the onshore wave energy technology company priced an underwritten public offering of 1 million American depositary shares representing 8 million shares at $8 per ADS for gross proceeds of $8 million. It is currently trading 115.48% higher in premarket.

Top News

Jobs growth likely sped up but some sectors left behind

The U.S. economy is projected to have created more than 700,000 jobs last month, though some companies continue to struggle to find workers to serve a flood of customers as the pandemic recedes.

Digital ad opportunities and capital spur investor interest in ad tech

Deal activity and public offerings in the advertising and marketing technology industry are rising as the sector gets a boost from a flush of available capital and companies looking for a share of a growing digital ad business.

A wave of earnings restatements slams a hot market

More than 540 companies have restated their financial accounts in the past three months, higher than every full year since 2013, to comply with a directive from Washington, new data show.

Shopping for high-end brands is harder than it looks-even if you're a luxury giant

Investors hope the pandemic will prompt some owners of independent high-end luxury brands to sell up. But persuading founding families to give up control has always been tricky.

Americans face higher gas prices heading into July 4th

Consumers are facing the steepest gasoline prices in nearly seven years as tens of millions eagerly hit the road this summer after a year of Covid-19 lockdowns and travel restrictions.

What Peter Thiel's Roth IRA means for yours

The new focus on retirement-account limits raises questions about saving strategies for everyone, not just the superrich

Fed's Harker supports start of bond buying pullback later this year

Federal Reserve Bank of Philadelphia President Patrick Harker said Thursday that while an interest rate rise lies some ways in the distance, he is ready for the U.S. central bank to begin slowing the pace of its asset buying stimulus this year.