For Friday, December 3rd, here are five things you must know:
1. -- As Omicron Concerns Dominate, Stock Futures Wobble.
Stocks were expecting a tumultuous Friday, following a roller-coaster week dominated by worries over the Omicron variant and its possible influence on the US economy, which sparked the biggest two-day declines on Wall Street in more than a year.
The U.S. stocks equity futures were a little lower Friday than November's nonfarm payrolls report, which is expected to show significant job growth last month, according to economists surveyed by FactSet predicting 581,000 positions added in November.
Futures contracts tied to the Dow Jones Industrial Average were indicating a 81-point opening gain at last check, while those linked to the S&P 500 are indicating a 13.5-point drop at the start of trading. Futures linked to the tech-focused Nasdaq Composite are indicating a 51-point decline at the start of trading as benchmark 10-year Treasury note yields hold at 1.444% in overnight trading.
In response to ongoing concerns concerning the possible prevalence of Omicron, its resistance to current vaccinations, and the severity of infection, the CME Group's benchmark volatility index, the VIX, remains at six-month highs.
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Didi moves to delist from the New York Stock Exchange on December 2, as he delists.
Didi Global () said Friday that it would "immediately" begin the process of delisting from the New York Stock Exchange and move to Hong Kong, j.
"After a thorough study, the business will begin delisting on the New York Stock Exchange immediately, and begin preparations for listing in Hong Kong," the Chinese ride-hailing firm wrote on its verified account on Weibo, a popular Twitter-like platform in the country.
The corporation said in a separate, English-language statement that its board of directors has authorized the company to file for delisting in New York.
Following necessary procedures, the board will "organize a shareholder meeting to vote on the above topic at an appropriate time in the future."
Didi's $4.4 billion IPO in the United States came just five months after it launched its blockbuster, a $4.4 billion IPO in the United States, stating shortly after offering that it would exclude Didi from app stores in China.
Although its stock is now worth about half of its $14 per share IPO price, a loss of nearly $30 billion in market capitalization, its stock was rising in premarket trading on Frida.
Besides Softbank (), Uber Technologies () - is the second-largest outside shareholder, holding 11.9%. Didi is a Chinese video game maker and WeChat app operator.
Washington will remain open for business until mid-February 3, according to 3.
Congress averted a government shutdown Thursday evening, when both chambers voted to pass a stopgap bill to extend funding through mid-February, after party leaders reached a deal to overcome GOP brinkmanship over vaccination mandates.
TheStreet Recommands Are
The last count in the Senate was 69-28.
Passage of the stopgap bill ahead of a midnight Friday deadline ended a standoff that had threatened to trigger a shutdown when a limited number of Republican senators who oppose President Joe Biden's vaccination requirements had delayed holding up a quick vote on the funding bill.
The two parties agreed to hold votes on the stopgap bill as well as a GOP amendment to interdire the use of federal funding for Covid-19 vaccination programs, which ultimately failed, in order to solve the issue.
The House approved a continuing resolution to fund the government until February 18 earlier on Thursday, which ended in 221-212.
-- On Tap, the November Nonfarm Payroll Report vs. Navarro's Navarro Report
Despite growing growth prospects and labor market pressures, even the Omicron variant raised rising concerns about possible restrictions and lockdowns, the US economy expected to employ more than half a million new jobs last month.
On Friday, the Bureau of Labor Statistics will release its official nonfarm payroll report at 8:30 a.m. ET, with economists searching for a headline total of about 571,000 new jobs, a figure that would contribute to the 531,000 jobs created in October.
ADP, the Payroll processing group, said Thursday in its National Employment Report t, ahead of consensus predictions of a 506,000 total.
"Job gains have eclipsed 15 million since the recovery began, albeit 5 million jobs short of pre-pandemic levels," Nela Richardson, chief economist, ADP, stated in a statement accompanying the news, adding that it's "too early to assess whether the Omicron variant may potentially slow the jobs recovery in coming months."
Even with November improvements,, with around 10.4 million positions vacated or left unfilled as of the end of September, near the highest since December 2000, the Labor Department announced a month ago in its monthly Job Openings and Labor Turnover Survey, or JOLTS report.
5. -- The $10 billion worth of Elon Musk's Tesla Share Sale surpasses the level of $1 billion.
Tesla () - CEO Elon Musk has released more than $10 billion in Tesla stock.
According to regulatory filings, Musk bought more than 934,000 Tesla shares worth about $1 billion on Thursday, updating the sales as Musk used more than 2.1 million vested Tesla stock options.
Musk, about two months after establishing a plan to exercise at least part of his almost 23 million vested stock options that would expire in August 2022 and to sell some of the shares to cover tax withholding obligations.
Unless social media users approved the move, Tesla, the world's richest person and Tesla's top shareholder, tweeted that he would sell 10% of his stock.
Musk's mps did vote for the stock sale, albeit subsequent reports indicated Musk had submitted regulatory filings for the share sale months ago without notice.
Musk is expected to demand to sell more than 12 million additional shares following his newest transactions to reach the Twitter target, according to his total holdings before the Twitter poll. It is likely based on how he defines his ownership interest.
Tesla shares were down 0.29% at $1,081.50 in premarket trading at last check, and the stock is up 58.62 percent year to date.
