5 things to know before the market opens on Friday August 6

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Here are the most important news, trends and analysis investors need to start their trading day:

1. Dow Futures, Bond Yields Rise After Strong Jobs Data

A trader works in the trading floor of the New York Stock Exchange (NYSE) in New York, August 5, 2021.

Andrew Kelly | Reuters

2. Non-farm wages in July were higher than expected

Economists polled by Dow Jones were looking for 845,000 new jobs and an overall unemployment rate of 5.7%. The drop in the unemployment rate seemed even sharper when you consider that the labor force participation rate climbed to 61.7%, tied for the highest level since the pandemic struck in March 2020. Wages were also higher, with the average hourly wage rising 0.4% in July.

3. United Airlines to Require Vaccines for Its 67,000 US Employees

United Airlines pilot Steve Lindland receives a COVID-19 vaccine from RN Sandra Manella at United’s on-site clinic at O’Hare International Airport on March 9, 2021 in Chicago, Illinois.

Scott Olson | Getty Images

United Airlines will require its 67,000 US employees to get vaccinated against Covid by October 25 at the latest on pain of termination, a first for major US carriers who will likely increase the pressure on their rivals. Airlines, including United, have resisted vaccination mandates for all workers, instead offering incentives like extra pay or time off to get vaccinated. Delta Air Lines began in May requiring newly hired employees to show proof of vaccination. United followed suit in June.

4. White House backs senators calling for stricter crypto reporting rules

The White House weighed in, somewhat out of the blue, in a controversial battle over competing crypto amendments to the $ 1,000 billion infrastructure bill. The fight is over a provision in the bipartisan bill, which raises funds through stricter tax rules on cryptocurrency transactions. The White House wrote in a statement Thursday night that “the amendment proposed by Senators Warner, Portman and Sinema strikes the right balance and takes an important step forward in promoting tax compliance.”

5. JPMorgan discreetly unveils access to half a dozen crypto funds

A woman walks past JPMorgan Chase &; Co’s international headquarters on Park Avenue in New York City.

Andrew Burton | Reuters

JPMorgan Chase, led by bitcoin-skeptic Jamie Dimon, began giving its wealth management clients access to six crypto funds over the past month. Financial advisers were allowed to begin placing private bank clients in a new bitcoin fund set up with crypto firm NYDIG on Thursday, according to people with knowledge of the move. The fund is almost identical to the one NYDIG offers to clients of rival bank Morgan Stanley, the people said. At the end of last month, JPMorgan opened up access to four funds from Grayscale Investments and one from Osprey Funds.

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