Aug. 4 Premarket Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Monday, Aug. 4:
1. -- U.S. stock futures were rising Monday following the jobs report on Friday that said the U.S. added more than 200,000 jobs for a sixth straight month.
European stocks were slightly higher following the bailout of Banco Espirito Santo.
Asian stocks ended the session mixed.
2. -- The economic calendar in the U.S. on Monday is empty.
3. -- U.S. stocks on Friday returned to calm as risk-off sentiment evaporated on a jobs number that was not too cold and not too hot.
The S&P 500 fell 0.29% to close at 1,925.15. The Dow Jones Industrial Average declined 0.42% to 16,493.37. The Nasdaq fell 0.39% to 4,352.64.
4. -- Portugal is providing 4.9 billion euros ($6.6 billion) in emergency funds to prevent the collapse of Banco Espirito Santo, one of the eurozone country's oldest and biggest financial institutions.
Bank of Portugal Gov. Carlos Costa said late Sunday the money will come from a special fund set up during the eurozone's recent financial crisis. The fund was created to help financial institutions in difficulty.
The move came after Banco Espirito Santo's share price lost about 75% of its value last week. The stock crashed after the bank reported a record half-year loss of 3.58 billion euros as previously unreported debts came to light after an audit. Trading in the shares was suspended on Friday and continued to be halted Monday as authorities plan the bank's restructuring.
Problems at the bank have spooked international markets, which fear the financial crisis that recently hit countries sharing the euro may not be over and more financial secrets remain to be discovered.
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5. -- Berkshire Hathaway
6. -- Wall Street firms led by Goldman Sachs
Bloomberg has dominated messaging on Wall Street for years, but its application is part of a data, trading and news terminal that costs about $20,000 a year. The Perzo applications are free, Reuters reported.
Several banks and asset managers are considering an investment in Perzo, including Morgan Stanley