Morning Bid: Post-payrolls foothold, new iPhones and debate

Friday, August 5, 2022

Good morning. Here’s what you need to know:

U.S. stocks rose on Thursday, buoyed by solid corporate earnings and stable economic data. The S&P 500 index gained 0.8%, the Dow Jones Industrial Average added 0.7% and the Nasdaq Composite advanced 1.1%.

The U.S. economy added 528,000 jobs in July, beating expectations and suggesting that the labor market remains resilient despite rising interest rates. The unemployment rate fell to 3.5%, its lowest level since February 2020.

Apple Inc. is set to unveil its new iPhone lineup at an event on Wednesday, September 7. The new iPhones are expected to feature a number of upgrades, including a faster processor, a better camera and a larger display.

The U.S. and China are set to hold high-level talks on trade next week. The talks are aimed at reducing tensions between the two countries and finding a way to resolve their ongoing trade dispute.

The U.S. presidential election is less than three months away. The race is currently very close, with both candidates neck-and-neck in the polls.

What to watch today:

• The U.S. Bureau of Labor Statistics will release its monthly unemployment report.
• Apple Inc. will hold its annual iPhone event.
• The U.S. and China will hold high-level talks on trade.
• The U.S. presidential election is less than three months away.