5 Things to Know Before the Stock Market Opens

The U.S. payroll report is expected to show that employers added 200,000 jobs in June, fewer than last month; bitcoin (BTCUSD) and other cryptocurrencies are falling on selloff fears after failed exchange Mt. Gox began $9 billion in payouts; the European Union (EU) is reportedly set to warn social media platform X on content violations in the latest move against U.S. tech firms; Disney (DIS), Netflix (NFLX), and other streaming services asked a Canadian court to set aside a content fee; and Shell (SHEL) expects to take an impairment charge of up to $2 billion after halting work on a biofuels plant. U.S. stock futures are little changed following the Independence Day holiday. Here's what investors need to know today.

1. Jobs Report Expected to Show Slowdown in Hiring

Following yesterday’s holiday, investors will start the trading day Friday with fresh data on the labor market when the Bureau of Labor Statistics releases its monthly jobs report at 8:30 a.m. ET. Economists forecast that employers added 200,000 jobs in June, fewer than May's 272,000 figure, while the unemployment rate is expected to stay at 4% and hourly wages are seen rising 0.3%, down from 0.4% the prior month. In the minutes for the June meeting of the Federal Reserve released Wednesday, some officials said they were more closely monitoring job numbers as inflation ticks lower, as unexpected weakness in the labor market could prompt the Fed to move more quickly on cutting interests.

2. Bitcoin, Ether Fall as Mt. Gox Payouts Begin

Cryptocurrency values are plummeting after failed exchange Mt. Gox began payouts to former customers that could total as much as $9 billion, putting selling pressures on cryptocurrencies from holders looking to take gains. Bitcoin (BTCUSD) is down about 3% at roughly $55,000, while ether is down 3.5%, part of a selloff totaling $170 billion in market capitalization in the last 24 hours. The Mt. Gox payout could put between 65,000 and 140,000 new bitcoin in the market, while customers will also receive payments in Bitcoin Cash.

3. EU Reportedly Set to Warn X for Failing to Combat Dangerous Content

The European Union (EU) is preparing to issue a formal warning to Elon Musk’s X social media platform for failing to combat dangerous content, the latest in a series of actions that it has taken against big tech companies under recently enacted laws, according to a Bloomberg report. A violation of the Digital Services Act (DSA) could result in a fine for X of as much as 6% of its revenue, the report said. The EU has also used its new Digital Markets Act (DMA) to charge other tech giants, including Apple (AAPL) with unfairly restricting how developers can seek payments, and Facebook parent Meta Platforms (META) with failing to let users opt out of data collection.

4. Disney, Netflix Among Streamers Seeking to Block Canadian Content Fee

The Walt Disney Co. (DIS), Netflix (NFLX), and other streaming companies have asked a Canadian court to halt plans for a 5% fee on sales in the country to help finance local content. The Motion Picture Association-Canada filing in the country’s Federal Court of Appeals seeks to put an end to the payments proposed by the Canadian Radio-television and Telecommunications Commission, which could cost streaming companies as much as 200 million Canadian dollars ($147 million) annually, The Wall Street Journal reported. Other streaming services in the suit include those of Warner Bros. Discovery (WBD) and Paramount Global (PARA).

5. Shell to Take $2B Charge After Pausing Work on Dutch Biofuels Plant

British energy giant Shell (SHEL) said it was set to take an impairment loss of between $1.5 billion and $2 billion after pausing construction of a major Dutch biofuels plant. Europe’s largest energy firm said Friday that it expects to book the tax after weak market conditions forced it to pause construction of a biofuels facility in Rotterdam and divest its chemicals refinery in Singapore. The company also revealed that it expected its Integrated Gas segment to produce lower revenues from its first-quarter results "due to seasonality."