5 things to know before the stock market opens Thursday, May 20

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Stock futures become positive after three days of losses

Traders work on the trading floor of the New York Stock Exchange.

NYSE

2. The weekly initial jobless claims hit the new low of the Covid era

The government reported a new Covid low for initial unemployment claims on Thursday. New jobless claims came in last week at fewer than 444,000 expected. The previous week was revised slightly to 478,000.

3. Bitcoin soars to nearly $ 42,000 after the slump on Wednesday

A representation of the virtual currency Bitcoin can be seen in this illustration from May 19, 2021 in front of a stock graph.

Given Ruvic | Reuters

Bitcoin surged to nearly $ 42,000 on Thursday after the world’s largest cryptocurrency tank hit 30% to three-month lows near $ 30,000 on Wednesday. That’s a drop of over 50% from last month’s all-time high of nearly $ 65,000. At Wednesday’s lows, the digital coin essentially broke even in 2021. However, over the past 12 months it has still increased by more than 200%. Bitcoin rebounded during Wednesday afternoon trading before pulling back later in the day and overnight.

4. Virgin Galactic will jump after the next space flight test scheduled for Saturday

Virgin Galactic’s Unity spacecraft fires its rocket engine and goes into space on February 22, 2019.

Virgo Galactic

Virgin Galactic’s shares rose nearly 24% on Thursday ahead of the market after the space tourism company announced it was planning Saturday for its next space flight test. The company announced this after completing a maintenance check on its carrier aircraft that threatened delays. Virgin Galactic aims to begin commercial service in 2022. Before the pre-IPO surge, the stock fell 27% this year and 65% over the past three months. Last week there was a big backlog after Cathie Woods Ark Invest announced that her company’s space exploration ETF had sold almost all of Virgin Galactic’s stake.

5. Oatly, backed by high profile investors, will begin trading

A carton of Oatly branded oat milk will be arranged for a photo in Brooklyn, New York on Tuesday, September 15, 2020. Photographer: Gabby Jones / Bloomberg via Getty Images

Bloomberg | Bloomberg | Getty Images

Oatly will debut on the Nasdaq on Thursday after the IPO peaked at $ 17 per share, the expected range. The Swedish oat milk maker raised $ 1.4 billion and valued the company at $ 10 billion. Last year, Oatly raised $ 200 million in a funding round led by private equity firm Blackstone, including Oprah Winfrey, Natalie Portman, an entertainment firm founded by rapper Jay Z, and former Starbucks boss Howard Schultz.

– Reuters contributed to this report. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

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