Markets set for muted start
U.S. stock markets look set for a mixed session on Monday as traders head into a packed week of economic reports, with several prints on the state of the U.S. labor market set to be published later in the week.
One of the most highly anticipated reports will be Friday’s June nonfarm payrolls data from the Labor Department. Economists estimate that the American economy added 700,000 new jobs last month.
Other key reports to watch this week include jobless claims, manufacturing, home prices and consumer confidence.
By 5:25 a.m. ET, futures tied to the blue-chip Dow were down 15.5 points, or 0.05% to 34,317.5. The technology-dominated Nasdaq 100 futures indicated a gain of 33.75 points, or 0.24% to 14,372.75 while S&P 500 futures were flat.
UK bans crypto exchange Binance
UK’s Financial Conduct Authority (FCA) has banned Binance Markets Ltd. from conducting any regulated activity in the country and warned consumers about using the platform.
The FCA said in a notice dated June 25, Binance Markets Ltd, Binance’s only regulated UK entity, “must not, without the prior written consent of the FCA, carry out any regulated activities … with immediate effect.”
According to the regulator, Binance Markets has until the evening of June 30 to confirm that it has pulled down all advertising and financial promotions. Binance must also disclose on its website, and all its social media pages that it is no longer allowed to operate in the United Kingdom.
The move comes as regulators around the world continue to crack down on the crypto industry amid concerns about its potential involvement in fraud and money laundering.
SentinelOne raises expected pricing range for IPO
SentinelOne revealed in a filing with the U.S. Securities and Exchange Commission (SEC) on Monday morning that it is raising the expected pricing range for a planned initial public offering.
The cybersecurity software company, which offers endpoint and workload security software and services to businesses worldwide, now expects to offer $32 million shares at $31 to $32 each. SentinelOne previously anticipated that the shares would price at $26 to $29 per share.
At the new price range, SentinelOne would raise about $1.02 billion and hit a valuation of up to $8.11 billion. The California-based company intends to list on the NYSE under the ticker S.