5 things to know before the fair opens on Wednesday June 30th

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

US stock futures were flat on Wednesday, a day after the S&P 500 and Nasdaq hit record highs again. The Dow Jones Industrial Average, which returned a gain of more than 100 points early Tuesday, ended slightly higher, remaining about 1.4% from the record set in early May. 10-year government bond yields tapped lower on Wednesday, trading around 1.46%, following better-than-expected ADP jobs data.

Shares of Bed Bath & Beyond bounced around in the premarket on Wednesday after the retailer reported mixed fiscal first quarter results. Turnover exceeded estimates, but profit was disappointing. Costs related to the company’s turnaround efforts, including marketing expenses, weighed on margins. The company raised its revenue outlook for the full year ahead of the important shopping season. Shares of Bed Bath & Beyond, which saw some strength in meme stock trading earlier this month, rose 68% in 2021, as of Tuesday’s close.

Didi Global will begin trading on the New York Stock Exchange on Wednesday, after it priced its first public offering at $14 a share and raised $4.4 billion. That gives the China-based ride-hailing company an initial valuation of about $73 billion.

Digital ad firm Taboola will begin trading on the Nasdaq on Wednesday following its merger with ION Acquisition Corp. 1, a special purpose acquisition company. The SPAC transaction will raise $526 million upon completion.

Transparent, No. 19 on CNBC’s Disruptors 50 list this year, will begin trading on the NYSE Wednesday after pricing the IPO at $31 a share and raising more than $400 million. Known for its frequent flier identification service, Clear launched Health Pass during the Covid pandemic.

ADP reported on Wednesday that jobs at US companies grew by 692,000 in June. That easily exceeds estimates. However, the private sector stock in May was still strong, but was sharply revised downwards to 886,000. During the Covid pandemic, the ADP report was not a good indication of what the government’s monthly employment report might show. Economists expect Friday’s jobs data to show that about 700,000 new nonfarm jobs were created in June. The unemployment rate in the country is expected to drop to 5.7%. Weekly unemployment claims will appear on Thursday.

High house prices are finally starting to take some of the buzz out of the Covid-induced housing boom. Mortgage Bankers Association said mortgage demand fell 6.9% this week. That is the lowest level in almost eighteen months. Mortgage applications to buy a home were down 5% for the week and 17% for the year. That is the slowest pace since early May 2020, when the lockdowns were in full effect. Refinancing applications were down 8% for the week and 15% a year.