Here are five things you must know for Friday, Jan. 5:
1. -- Unemployment Expected to Hold Steady
U.S. stock futures were pushing Wall Street further into record territory on Friday, Jan. 5, ahead of a jobs report that will go some way toward gauging the Federal Reserve's projections for three interest rate increases in 2018.
The Dow Jones Industrial Average finished above 25,000 for the first time on Thursday, Jan. 4, and the S&P 500 and Nasdaq posted record closes for the third consecutive day.
The records came amid a renewed charge in the global stock rally that continues to test records for high prices and low volatility.
The Dow gained 0.61% to finish at a closing high of 25,075. The S&P 500 rose 0.4% and the Nasdaq gained 0.18%.
Economists surveyed by FactSet expect the U.S. to have added 189,000 jobs to payrolls last month, down from the 228,000 jobs that were added in November. Economists expect the unemployment rate to have held steady in December at 4.1%.
Investors could focus Friday on the pace of wage increases in a workforce that is likely to see the lowest level of headline unemployment since the Korean War sometime later this year. Hourly earnings are expected to have grown at a 2.5% clip year over year in December, according to estimates, a figure that matches November's wages number.
The U.S. Nonfarm Payrolls Report for December will be released at 8:30 a.m. ET.
The economic calendar in the U.S. on Friday also includes International Trade for November at 8:30 a.m., Factory Orders for November at 10 a.m., and the ISM Non-Manufacturing Index for December at 10 a.m.
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2. -- Apple's Mac and IOS Devices at Risk From Security Bugs
The iPhone maker said it had released operating system updates in December to mitigate the effects of "Meltdown," which could be exploited to read kernel memory.
Apple said it would be updating its browser software "in the coming days" to mitigate the effects of "Spectre," a second potential vulnerability, which is easier to exploit and affects devices using chips from Intel Corp. (INTC) - Get Report , Advanced Micro Devices Inc. (AMD) - Get Report and SoftBank Group Corp.'s (SFTBY) ARM Holdings.
Apple said it's unaware of any successful exploits of the bugs.
Apple shares rose 0.23% in premarket trading on Friday.
3. -- More Sears Stores Going Dark
Sears Holdings Corp. (SHLD) said Thursday that it will close more than 100 stores in 2018.
The struggling retailer said 64 Kmart stores and 39 Sears will be shuttered between March and April. The company announced the closure of more than 250 stores last year.
Sears shares fell 4.8% on Thursday after the news was released.
4. -- Kalanick to Sell Some of His Uber Stake
Former Uber Technologies Inc. CEO Travis Kalanick will sell about 30% of his shares in the company, netting about $1.4 billion, as part of the SoftBank-led deal to take a stake in the ride-sharing company, Bloomberg reported.
Kalanick, who was forced out as CEO last year amid a slew of investigations and legal problems, had offered to sell half his stake, Bloomberg reported.
SoftBank led a consortium of investors taking a stake in Uber that valued the company at $48 billion last month. The deal is expected to close later this month. Kalanick, who remained on Uber's board after leaving the CEO post, will see his influence curtailed under new governance rules once the SoftBank deal is completed, the report said.
5. -- GoPro Cuts Jobs
The cuts were largely concentrated in GoPro's aerial division, the segment of the company responsible for its Karma drone.
In a letter to impacted employees, GoPro explained the cuts were part of a larger restructuring "to better align our resources with business requirements," TechCrunch reported.
Shares of GoPro rose 3% in premarket trading.
This article has been updated with earnings from Constellation Brands.
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