Here are five things you must know for Monday, July 9:
1. -- Stocks Get Lift From U.S. Jobs Report
U.S. stock futures rose on Monday, July 9, and shares in Asia and Europe booked solid gains as investor sentiment improved after the U.S. jobs report showed solid growth with little underlying inflation pressures in the world's biggest economy.
Contracts tied to the Dow Jones Industrial Average
The 213,000 jobs added to U.S.payrolls in June and slower-than-expected annual wage growth of 2.7% could set the table for a strong summer performance for U.S. markets as investors trim bets on faster rate hikes from the Federal Reserve and prep for what could be another robust corporate earnings season.
Also lifting sentiment Monday was a lack of headlines linked to the various trade disputes between Washington and its major economic allies and a steadying in global oil prices following consecutive weekly gains.
Stocks in Shanghai jumped 2.47% on Monday, and Japan's Nikkei 225 finished with a gain of 1.21%.
Both the economic calendar in the U.S. and earnings calendar on Monday are light.
2. -- Trump to Make Supreme Court Pick
Donald Trump said Sunday, July 8, he was still deliberating his decision on a replacement for Supreme Court Justice Anthony Kennedy as his self-imposed Monday deadline for an announcement neared.
"I'm very close to making a final decision. And I believe this person will do a great job," Trump said, the Associated Press reported. Asked by reporters on Sunday how many people were being considered, Trump said: "Let's say it's the four people ... they're excellent, every one. You can't go wrong."
While Trump didn't name the four, top contenders for the role have included federal appeals judges Brett Kavanaugh, Raymond Kethledge, Amy Coney Barrett and Thomas Hardiman. The White House has been preparing information materials on all four, who were part of a longer list of 25 names vetted by conservative groups.
Trump is expected to announce his pick at 9 p.m. EDT on Monday from the White House.
3. -- Xiaomi Slips in Hong Kong Debut
Chinese smartphone maker Xiaomi Corp., which raised $4.7 billion in its initial public offering, saw its shares slip in their first day of trading in Hong Kong to just below their listing price of HK$17.
A break-even first day of trading is a disappointment for any IPO, but the failure to post a gain is particularly frowned upon in Hong Kong where investors often borrow money to invest in listings with the expectation of a quick profit, according to TheDeal's Paul Whitfield.
Xaiomi's IPO had provided warning signs of weakness ahead of its first day of trading. The handset maker had originally hoped for a valuation of near $100 billion but was forced to cut that target to a maximum $70 billion on the advice of its bankers.
That capitalization target was cut again to $54 billion when the stock was priced at the low-end of its IPO range, while the amount of shares to be sold was trimmed as it became clear that demand was modest.
4. -- Groupon Is Looking for a Buyer - Report
Groupon, as well as bankers representing it, have contacted several public companies in the past month to try to drum up interest in acquiring the Chicago-based company, two people briefed on the approaches told Recode.
Groupon has made it known for some time to potential acquirers that the company was open to the idea of a sale, according to Recode, but representatives for the company were especially aggressive last month in attempting to create interest among potential suitors, one of these people said. It wasn't clear whether Groupon was successful in stirring up a suitor or what's behind the current push to sell.
Groupon, which was valued at around $16 billion when it listed on the Nasdaq in 2011, has struggled to maintain its early growth potential as customers departed to various competitor websites and apps and sales slowed.
5. -- Mark Zuckerberg Is World's Third-Richest Person
Facebook Inc. (FB) co-founder Mark Zuckerberg is now the world's third-richest person, overtaking Warren Buffett, Bloomberg reported.
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