Here are five things you must know for Thursday, July 2:
1. -- Stock Futures Rise Ahead of June Jobs Report
Stock futures rose Thursday ahead of U.S. jobs data and after positive vaccine developments helped push equities higher in the previous session.
Contracts linked to the Dow Jones Industrial Average were up 270 points, futures for the S&P 500 gained 24 points and Nasdaq futures rose 51 points.
Economists expect the U.S. to have added about 3 million job sin June. The report will be released Thursday since U.S. stock markets are closed Friday for the Independence day holiday.
The S&P 500 closed 0.5% higher on Wednesday after Pfizer (PFE) - Get Report and partner BioNTech (BNTX) - Get Report released a study of an experimental coronavirus vaccine that showed a "strong immune response" in human trials, and U.S. manufacturing data was better than expected.
The Nasdaq rose 0.95% to close at a record. The Dow fell 77 points, or 0.3%, to 25,734.
The gains Wednesday came even after minutes from the Federal Reserve's meeting in June revealed officials said there remained "extraordinary uncertainty and considerable risks to the economic outlook" from the coronavirus pandemic.
The minutes showed that various Fed officials said the U.S. economy might need support “for some time.”
“A number of participants judged that there was a substantial likelihood of additional waves of outbreaks, which in some scenarios, could result in further economic disruptions and possibly a protracted period of reduced economic activity,” the minutes said.
2. -- Nonfarm Payrolls, Jobless Claims Lead Thursday's Calendar
The economic calendar for Thursday includes the U.S. nonfarm payrolls report for June at 8:30 a.m. ET. Economists expect the U.S. to have added 3 million jobs during the month after a surprise jump of 2.509 million in May. The unemployment rate is expected to fall to 12.4% vs. May's 13.3%.
The calendar also includes weekly jobless claims at 8:30 a.m., international trade for May at 8:30 a.m. and factory orders for May at 10 a.m.
3. -- Coronavirus - The Latest
The number of confirmed global cases of the coronavirus has risen to 10,694,288, according to the Johns Hopkins University, and deaths increased to 516,210.
The U.S. has 2,686,480 cases of the coronavirus, the most in the world, according to Johns Hopkins. Deaths in the U.S. have risen to 128,062, also the most in the world.
U.S. daily coronavirus cases rose by 51,374 on Wednesday, the first time daily cases crossed 50,000, according to data from Johns Hopkins and Bloomberg.
The fast-food giant said it would wait three weeks before add dine-in services to its drive-through, takeout and delivery operations.
“Our resiliency will be tested again. Covid-19 cases are on the rise,” said a company letter by Joe Erlinger, McDonald’s U.S. president, and Mark Salebra, head of the National Franchisee Leadership Alliance owners association, that was viewed by The Wall Street Journal.
The company will close stores in Alabama, California, Florida, Georgia, Idaho, Louisiana, Mississippi, Nevada, Oklahoma, Texas and Utah.
"Due to current Covid-19 conditions in some of the communities we serve, we are temporarily closing stores in these areas," Apple said in a statement. "We take this step with an abundance of caution as we closely monitor the situation and we look forward to having our teams and customers back as soon as possible."
4. -- Elon Musk Congratulates Tesla Workers Ahead of Deliveries Report
Tesla delivered 90,650 units over the three months ended in June, well ahead of the Wall Street consensus forecast of 72,000.
CEO Elon Musk had issued an e-mail Wednesday congratulating the electric carmaker's employees ahead of the second-quarter production and delivery numbers.
“Just amazing how well you executed, especially in such difficult times. I am so proud to work with you!” read the email, CNBC reported.
Tesla reported 88,000 vehicle deliveries in the first quarter.
The stock rose 9.68% in premarket trading to $1,228.
5. -- Facebook's Zuckerberg Thinks Advertisers Will Be Back 'Soon Enough'
Facebook (FB) - Get Report CEO Mark Zuckerberg told employees in a recent employee-only town hall meeting that he was reluctant to change the company's policies and expects advertisers that have joined a boycott of the social media giant "will be back on the platform soon enough.”
Zuckerberg gave his thoughts on the boycott, which now includes brands such as Starbucks (SBUX) - Get Report and Coca-Cola (KO) - Get Report, during the meeting last Friday, according to employees who attended, The Information reported.
"We're not gonna change our policies or approach anything because of a threat to a small percent of our revenue, or to any percent of our revenue," Zuckerberg said.
"My guess is that all these advertisers will be back soon enough," Zuckerberg added.
A recent report from CNN found that most of the 100 biggest ad spenders on the platform haven't joined the boycott, which was started by civil rights groups last month. They have called for major companies to stop ad spending on Facebook until the company stops allowing hate speech on the platform.