The Market News Today: Investors Await Jobs Report for Fed Insights

Extended Trading: Vail Resorts Drops, Braze Surges

In extended trading, Vail Resorts’ stock fell over 5% after missing earnings expectations. DocuSign dropped 4% despite beating earnings and increasing its share repurchase plan. Samsara shares declined nearly 7% even with better-than-expected earnings and revenue. Braze surged 15% on a smaller-than-expected loss and revenue beat. Planet Labs rose 3.8% after reporting a narrower-than-expected loss and slightly higher revenue. These companies saw significant movement following their financial announcements.

Treasury Yields Rise Ahead of Key Labor Market Data

U.S. Treasury yields climbed as investors awaited key labor market data. May’s nonfarm payrolls report, expected to show a 190,000 job increase, follows ADP’s report of 152,000 new jobs, below estimates. Investors are hopeful that signs of a slowing labor market may prompt the Federal Reserve to consider easing monetary policy. The Fed is expected to maintain rates next week, with a potential rate cut anticipated in September. The ECB recently cut rates for the first time since 2019.

Oil and Gold Prices Stabilize Amid Economic and Market Uncertainties

Oil prices rose slightly on Friday due to OPEC+ reassurances but faced a third weekly loss. Analysts expect oil to stabilize between $76 and $80 per barrel. Meanwhile, gold prices held firm, set for their first weekly gain in three weeks, as bets on Federal Reserve rate cuts increased. Lower bond yields and a weaker dollar supported gold. Markets are now eyeing U.S. nonfarm payrolls data for further cues on economic conditions and future rate decisions.