5 things to know before the stock market opens Monday
Here are the most important news, trends and analysis that investors need to start their trading day:
1. S&P 500 set to start August higher after six straight monthly gains
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, July 15, 2021.
Brendan McDermid | Reuters
2. July employment report, quarterly earnings dominate week ahead
A worker wields hinges to the company’s largest commercial asphalt paver at the Calder Brothers’ facility in Taylors, South Carolina, U.S., July 19, 2021.
Brandon Granger | Calder Brothers Corporation | Reuters
3. Senate finishes text of bipartisan infrastructure legislation
An aerial view shows construction continuing on the Sixth Street Viaduct replacement project, connecting Boyle Heights with downtown, on July 28, 2021 in Los Angeles, California.
Mario Tama | Getty Images
4. Covid cases spike again; federal evictions moratorium expires
A healthcare worker at a drive-thru site setup by Miami-Dade and Nomi Health in Tropical Park prepares to administer a COVID-19 vaccine on July 26, 2021 in Miami, Florida.
Joe Raedle | Getty Images
The delta-driven increase of Covid infections around the country is being felt particularly hard in Florida. A day after recording the most new daily cases since the start of the pandemic, Florida on Sunday broke a record for current hospitalizations set more than a year ago, before vaccines were available. The latest seven-day average of new daily infections in the U.S. increased 54% from a week ago.
Tenants and housing rights activists protest for a halting of rent payments and mortgage debt, during the coronavirus disease (COVID-19) outbreak, in Los Angeles, California, U.S., October 1, 2020.
Lucy Nicholson | Reuters
Evictions, which have mostly been on pause during the pandemic, are expected to ramp up Monday after a federal moratorium expired over the weekend. House lawmakers on Friday attempted but failed to pass a bill to extend eviction relief even for a few months. More than 15 million people live in households that owe as much as $20 billion to their landlords, according to the Aspen Institute think tank.
5. Jack Dorsey’s Square to buy Australia’s Afterpay in $29 billion deal
Jack Dorsey, CEO of Twitter and co-founder & CEO of Square, speaks during the crypto-currency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida, on June 4, 2021.
Marco Bello | AFP | Getty Images
Square plans to buy Australian fintech Afterpay as it looks to expand into the booming installment loan market. Jack Dorsey’s payments company announced the $29 billion, all-stock deal on Sunday evening. The price tag marks a roughly 30% premium to Afterpay’s closing price Friday. Shares of Afterpay in Australia closed nearly 19% higher Monday. Square shares fell 1% in Monday’s premarket trading in the U.S. Afterpay lets customers pay in four interest-free installments and pay a fee if they miss an automated payment. Square also announced its second-quarter results Sunday, ahead of its previously planned release on Wednesday.
— The Associated Press contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.
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