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5 Things to Know Before the Stock Market Opens – NBC New York

  • The indexes closed with little movement on Thursday.
  • Investors are awaiting Friday’s nonfarm payrolls report.
  • GameStop jumped Thursday after “Roaring Kitty” scheduled a livestream on YouTube.

Here are five key things investors need to know to start the trading day:

1. Hardly changed

The S&P 500 pulled back slightly on Thursday, ending the session just 0.02% lower at 5,352.96 after hitting an all-time high on the day during trading. The Nasdaq Composite also fell slightly, down 0.09% to 17,173.12, while the Dow Jones Industrial Average rose 0.20% to 38,886.17. The lack of movement among the major indexes came as investors eagerly await Friday’s nonfarm payrolls report for May to assess the shape of the labor market. Follow live market updates.

2. Job information on deck

All eyes on jobs. The May nonfarm payrolls report, due to be released Friday, could lead the Fed to cut rates sooner if rates turn out weaker than expected. Economists polled by Dow Jones expect the Bureau of Labor Statistics to report an increase of 190,000 jobs this month — up from the 175,000 jobs added in April. Average hourly wages are also expected to rise by 0.3%, which is an increase of 3.9% from a year ago.

3. Can’t stop (game).

Logo of GameStop, on April 3, 2024, in Sherwood Park, Strathcona County, Alberta, Canada.
Arthur Widak | Nurfoto | Getty Images

Logo of GameStop, on April 3, 2024, in Sherwood Park, Strathcona County, Alberta, Canada.

GameStop spiked more than 40% on Thursday, hitting session highs after meme stock leader “Roaring Kitty” scheduled a YouTube livestream — its first in nearly four years. The investor, Keith Gill, set the stream at noon on Friday, with traders anticipating it would be a bullish discussion about his position in the stock. Ahead of the scheduled stream, GameStop unexpectedly reported a 29% drop in revenue and a $32 million loss for the first quarter before the bell on Friday. The video game retailer initially planned to announce results later this month.

4. Walmart’s Glory?

A bicycle rack in front of Walton's 5&10 store, part of the Walmart Museum, in Bentonville, Arkansas, USA, on Monday, November 21, 2022.
Terra Fondriest | Bloomberg | Getty Images

A bicycle rack in front of Walton’s 5&10 store, part of the Walmart Museum, in Bentonville, Arkansas, USA, on Monday, November 21, 2022.

Bentonville is booming. The Arkansas city, which also happens to be the birthplace of Walmart, is growing rapidly and has more cranes per capita than any other city in the country, according to Cushman & Wakefield/Sage Partners. And this kind of growth has meant that the city has many of the amenities that people expect in larger cities. For example, the prices and dishes of the city’s restaurant and bar scene are comparable to places like Miami. As other costs, such as rent and real estate costs, mount, Bentonville’s expansion has ultimately led to concerns among longtime residents about affordability and displacement.

5. Rivian redesign

2025 Rivian R1S
Rivaans

2025 Rivian R1S

Rivian is getting an Nvidia makeover. The automaker said Thursday that it has redesigned its all-electric R1 pickup and SUV models with Nvidia chips to boost their computing power. According to Rivian, such computing power increases the vehicles’ performance ten times more than the previous system. With the new system, dual Nvidia DRIVE Orin processors help power the “Autonomy Compute Module,” which includes driver functions. A ‘premium version’ of this system will also offer broader capabilities, such as hands-free driving ‘for a limited period’. Still, drivers will always have to pay attention to the road, Rivian said.

CNBC’s Brian Evans, Samantha Subin, Jeff Cox, Yun Li, Fred Imbert, Melissa Repko and Michael Wayland contributed to this report.

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