There will be lots for traders to watch on Friday, June 7th.
In the morning, the May employment report will be released. Economists expect non-farm payrolls to rise slightly from April and the unemployment rate to stay unchanged.
Nvidia (NVDA) shares are about to become more affordable. The tech giant will complete its 10-for-1 stock split after the market closes.
Traders will also be watching GameStop (GME). A YouTube account linked to meme stock trader “Roaring Kitty,” whose real name is Keith Gill, has scheduled a livestream for Friday at noon Eastern time. The announcement sent GameStop shares surging 47% in Thursday’s trading.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.
This post was written by Stephanie Mikulich.
Video Transcript
And now it is time for what to watch Friday, June 7th.
We’re going to start off with jobs.
The monthly jobs report for May is coming out at 8:30 a.m. Eastern.
The expectation is that the economy added 190,000 jobs last month, an increase from April slower than expected gains and the employment rate expected to hold steady at 3.9% which would extend the street below 4% something not seen since the early 19 fifties and hourly rate are expected.
Wages are expected to take up slightly from April.
Meantime, in video will complete its 10 for one stock split after the market closes tomorrow, meaning each share the shareholders own will be split into 10 shares.
Trading for video stock on that split adjusted basis is scheduled to begin when the market opens on Monday.
Now the move doesn’t change the valuation of a video as a company, but the shares will have a lower price price each making them in theory more accessible to investors.
And finally, the main stock rally rages on Keith Gill, also known as Roaring Kitty is set to host a live stream on his youtube account at 12 p.m. Eastern shares of gamestop.
They shot the session highs on the news closing higher by 47% and briefly causing trading of the stock to be halted because of volatility.
Imagine something similar could happen tomorrow in terms of those volatility hal we shall see.