July 2nd 2021 – Stock Market Today: Here’s what’s happening.

Futures were flat this morning as investors awaited a potentially pivotal June jobs report.  For more on Wall Streets expectations and to find out how this mornings monthly jobs announcement could affect markets, read on.

Plus, this week has been huge for IPOs, the biggest since 2004 in fact.  This morning we’re going to delve into the details of the barrage of IPO news that’s hitting the Street.  Including a significant SEC disclosure from Robinhood in the wake of its IPO announcement yesterday.

We’ve got all this and more in this morning’s briefing, so continue reading to find out what’s moving markets today.  



Waiting for a jobs rebound…

While hiring has been steady in recent months, it hasn’t exactly met expectations.  The number of jobs created in May was off by 100,000 versus Wall Street’s expectations and off by 600,000 in April.  This morning 706,000 new payrolls are forecasted, but the recent trend of overly enthusiastic expectations may be reason for concern.  There’s a long way to go to get back to pre-pandemic employment levels, this morning investors will be watching to see how close we can get. Volatility may be in store.



The S&P 500 index finishes at a new high for the sixth day straight, amidst the busiest IPO week since 2004…

Yesterday US equities crept higher with the S&P 500 closing at all-time highs for the sixth day in a row. The stock market’s rise coincides with the biggest week for IPO launches since 2004. Krispy Kreme is one of 18 firms listed on the NYSE this week, with its stock rising 10% in Tuesday trading. Didi’s stock surged as high as 28% on its first day of trading on Wednesday, while LegalZoom’s stock jumped as much as 39%

According to Renaissance Capital, there have been 215 IPOs priced this year, a +225.8% increase over the same period last year.

After fast expansion, Robinhood now has 18 million accounts and $80 billion in assets, according to its IPO filing…

As it took a major step toward one of the year’s most anticipated IPOs on Thursday, Robinhood, the stock-trading app that rose in popularity and infamy during the pandemic, disclosed soaring revenue.

The disclosures were revealed in an offering prospectus a day after Robinhood said it would pay a $70 million punishment — the biggest ever issued by the Financial Industry Regulatory Authority, or FINRA — for deceiving consumers and causing them harm through downtime.

When it limited some trading after a swarm of investors inflated the valuations of so-called meme stocks like GameStop, the video game company, Robinhood became the latest in a long line of Silicon Valley businesses to earn national prominence for less-than-ideal reasons. The decision, which Robinhood claimed was necessary to fulfill capital requirements, enraged many customers, prompted over 50 lawsuits, and resulted in protests outside the company’s Menlo Park offices. Robinhood has impressively emerged from all of the upheaval with a stronger brand and millions more consumers.

According to Robinhood’s S-1 filing the company was in fact profitable last year, making a net income of $7.45 million on a net revenue of $959 million in 2020, compared to a loss of $107 million on $278 million in 2019.

Where to invest $1,000 right now...

Before you consider buying Krispy Kreme, you'll want to see this.

Investing legend, Keith Kohl just revealed his #1 stock for 2022...

And it's not Krispy Kreme.

Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.

Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.

Find that to be extraordinary?

Click here to watch his presentation, and decide for yourself...

But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.

Click here to find out the name and ticker of Keith's #1 pick...





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