Top News Stories for July 5, 2024: U.S. Jobs Report, Cryptocurrency Selloff, EU Warning to Social Media, Streaming Services Battle Canadian Content Fee, Shell’s Impairment Charge

The U.S. payroll report is expected to show a slowdown in hiring, with economists forecasting that employers added 200,000 jobs in June, fewer than the previous month. This news comes as bitcoin and other cryptocurrencies are falling on selloff fears after failed exchange Mt. Gox began $9 billion in payouts. In addition, the European Union is reportedly set to warn social media platform X on content violations, marking the latest move against U.S. tech firms.

Meanwhile, Disney, Netflix, and other streaming services have asked a Canadian court to set aside a content fee that could cost them millions annually. And Shell is expected to take an impairment charge of up to $2 billion after halting work on a biofuels plant.

With U.S. stock futures little changed following the Independence Day holiday, investors will be closely watching the labor market data and cryptocurrency market movements. Stay tuned for more updates on these developing stories.