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Jobs, Peloton, DraftKings: 3 Things to Watch

Stock MarketsMay 06, 2021 03:51PM ET
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By Christiana Sciaudone

Investing.com -- The Dow is close to a record high as we itch to return to pre-pandemic-like times and inflation appears to be closely behind.

Jobless claims were sharply lower, though we still have nonfarm payrolls to look for tomorrow. Even though we're poised to step out to the office and grab a bagel from the corner, Kellogg (NYSE:K) rose as it raised its full-year guidance after reporting a swell first quarter. Molson Coors (NYSE:TAP), Kroger (NYSE:KR) and General Mills (NYSE:GIS) were also higher.

Pharma stocks got hit as the U.S. supported the effort to get vaccines around the world by suspending intellectual property.

Meanwhile, supported by rising commodity prices, inflation has us on our toes.

Here are three things that could affect markets tomorrow:

1. Jobs

The April U.S. employment report should show another solid month of job gains as the economy continues to recover from the pandemic. How solid? Economists are predicting employers added 1 million jobs, up from the previous month's 916,000. The unemployment rate is expected to tick down to 5.8% from 6%.

2. Peloton 

Keep an eye on Peloton Interactive Inc (NASDAQ:PTON) shares. After yesterday's swoon on the news of its treadmill recall, the company is set to report results postmarket. Expect leadership to be questioned about that on the call. Consensus is for revenue of $1.2 billion.

3. Wanna bet?

DraftKings (NASDAQ:DKNG) hopes you do. The company is set to report results before the bell on Friday. It's expected to post a loss of 44 cents a share on $239 million in revenue. Also reporting: Plug Power (NASDAQ:PLUG).

 

Jobs, Peloton, DraftKings: 3 Things to Watch
 

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