Hello and welcome to the stock market today! All eyes are on jobs: the United States added 943,000 non-farm jobs in July, beating expectations for 865,000. This brought the unemployment rate down to 5.4%. With tapering, hiring and inflation at the top of the list, what will the stock market do today?
- the S&P 500 is up 0.12%
- the Dow Jones Industrial Average is up 0.38%
- the Nasdaq Composite is down 0.39%
So what else will the stock market do today? Here are some of the best stories.
What will the stock market do today? Speak VE.
President Joe Biden met with executives of major US automakers on Thursday Ford (NYSE:F), General Motors (NYSE:DG) and Stellantis (NYSE:STLA). The end result was a promise to have 50% of new electric car sales by 2030. As the New York Times reported, this ambitious goal could also benefit companies that have electric models first, such as industry leaders. You’re here (NASDAQ:TSLA) and startups like Lucid engines (NASDAQ:LCID) and Rivien.
While it is not clear how these companies will carve out the battery car market, it is certain that widespread electrification is ahead. Traditional automakers are moving fast to electrify their fleets, and startups are racing to get models into production by the end of 2021.
The United States isn’t alone in wanting to electrify the roads, either – and its automakers aren’t the only companies fighting for market share.
On the surface, investors are already watching the race of Chinese companies to bring their all-electric vehicles on the roads of China… and the rest of the world. But like CoinTelegraph reported today, there is another growth catalyst in the Chinese electric vehicle market.
In recent weeks, government officials have taken a stand against cryptocurrency miners. Guizhou province, finding itself with released energy capacities, is already pivoting. He has already promised to build 4,500 EV charging stations in 2021… and 5,500 in 2023.
So what’s the bottom line? U.S. automakers are rushing to electrify, but the ramifications of China’s crypto crackdown could complicate the story.
Your immunization status, please
Secure Clear (NYSE:YOU) went public at the end of June as part of an initial public offering that valued the biometrics company at $ 4.5 billion. While the company is not known, its solutions are certainly familiar. Clear Secure provides security solutions for airports, stadiums and other entertainment venues, such as its body scanners.
Importantly, at the start of the pandemic, Clear Secure made a smart pivot. With fewer people going through the Transportation Security Administration’s processes, its solutions were less needed. This prompted Health Pass – a solution that links biometric data to Covid-19 health data.
Or, in other words, users can insert their Covid-19 testing and vaccination information, and Clear Secure takes it one step further. Instead of relying solely on an app (with potentially falsified information), Clear Secure links your immunization status to your face or fingerprints. This makes it secure and suppresses fraud issues.
Why is this important? The first implication for investors is that YOU are a smart game for this new phase of the pandemic. Just today United Airlines (NASDAQ:UAL) has implemented a vaccination mandate for all its employees. With more and more employers following suit, health trackers like Health Pass could play a vital role.
The second implication, as the team of Robinhood snacks writes, will Clear Secure be a winner in a world where health data is essential.
What else we are looking at
- Regulatory repression in China continues and Have I got (NYSE:HAVE I GOT) is not considering drastic measures. According to a new report from Bloomberg, the carpooling company is considering give the government control over its data. DIDI shares have fallen by nearly 40% since their initial public offering.
- Sorry Mark Zuckerberg, some things are just more “meta” than Facebook. Actually Robin Hood (NASDAQ:HOOD) becomes the king of meme actions. As soon as the market closes on Wednesday, 25% of the float was sold short.
- Microvast (NASDAQ:MVST) went viral on Friday, with stocks rising more than 10%. Without news, it appears the electric vehicle battery company has gained favor with retail investors.
- Mattel (NYSE:CARPET) seeks to capitalize on the toy boom of Covid-19 and thank healthcare workers in one go. The company announced that it was creation of six unique dolls tribute to women fighting against the pandemic.
As of the publication date, Sarah Smith does not have (directly or indirectly) any position in any of the stocks mentioned in this article. The opinions expressed in this article are those of the author, subject to the publication guidelines of InvestorPlace.com.
Sarah Smith is Today’s Market Editor at InvestorPlace.com.