Stock market news: Opening bell, August 3, 2018

Apple
CEO Tim Cook introduces Apple Watch , which he is wearing on his
wrist, on Tuesday, Sept. 9, 2014, in Cupertino, Calif. (AP
Photo/Marcio Jose Sanchez)
Marcio Jose
Sanchez/AP

Here is what you need to know. 

Here comes the jobs report. The US economy
is expected to have added 193,000 nonfarm jobs in July as the
unemployment rate slipped to 3.9%, according to economists
surveyed by Bloomberg. Average hourly earnings are expected to
have increased 2.7% year-over-year. 

Trump got a dynamite GDP number last quarter — and early signs
point to the next one being even better. The
Atlanta Fed’s GDPNow model, which uses recent economic data
to predict the current quarter’s GDP growth, stood at 5% on
Thursday, up slightly from an initial estimate of 4.7%.

The pound falls below $1.30 after Carney warns of ‘uncomfortably
high’ no deal Brexit risk. “The possibility of
a no deal at the moment is uncomfortably high,” Bank of England
Governor Mark Carney told BBC’s Radio 4’s Today Programme. “It is
highly undesirable, parties should do all things to avoid
it.” 

Apple becomes the first US company worth $1
trillion. Shares climbed 2.92% on Thursday,
crossing the magic number of $207.05 and making Apple the first
US company to join the 13-figure club.  

Amazon is under fire for its tiny UK corporate tax
bill. The e-commerce behemoth paid just
£4.6 million ($6 million) in UK corporate taxes in 2017, down
from £7.4 million($9.6 million) in 2016, despite a big jump in
operating profit and revenue.

Smart-speaker maker Sonos soars in its trading
debut. Shares soared 33% to $19.91 apiece
during their first day of trading on the Nasdaq.  

One of the world’s largest real estate companies goes
public. Cushman & Wakefield shares slid 1%
from their opening price of $18 to $17.81.

Stock markets
around the world trade mixed. China’s Shanghai
Composite (-1%) trailed in Asia and Germany’s DAX (+0.61%) leads
in Europe. The S&P 500 is set to open little changed near
2,830.

Earnings
reporting slows down. Cboe, Dish Network, and
Kraft Heinz are among the names reporting ahead of the opening
bell.

US economic data keeps coming out. Asides from
the jobs report, the trade balance will be released at 8:30 a.m.
ET and ISM non-manufacturing will cross the wires at 10 a.m. ET.
The US 10-year yield is down 1 basis point at 2.98%.