Louis Navellier is rating this stock an “A” – Get In Now!

On May 24, the man who found “the stock of the century” will reveal one of his top stocks for 2022 – for FREE – in a special presentation.

Tue, May 24 at 4:00PM ET

What Will the Stock Market Do Today? 3 Big Stories to Watch.

Good morning and welcome to the stock market today! All eyes are on employment: The United States added 943,000 non-farm payrolls in July, beating expectations for 865,000. This took the unemployment rate down to 5.4%. With tapering, hiring and inflation all top of mind, what will the stock market do today?

Street sign for Wall Street pictured in front of several American flags representing american stocks

Source: Shutterstock

  • The S&P 500 is up 0.12%
  • The Dow Jones Industrial Average is up 0.38%
  • The Nasdaq Composite is down 0.39%

So what else will the stock market do today? Here are some of the top stories.

What Will the Stock Market Do Today? Talk EVs.

On Thursday, President Joe Biden met with executives from leading U.S. automakers Ford (NYSE:F), General Motors (NYSE:GM) and Stellantis (NYSE:STLA). The end result was a pledge to have 50% of new car sales electric by 2030. As the New York Times reported, this ambitious goal could also benefit companies that have electric-first models, such as industry leading Tesla (NASDAQ:TSLA) and startups like Lucid Motors (NASDAQ:LCID) and Rivian.

Although it is not certain how these companies will carve up the battery-powered car market, it is certain that widespread electrification is coming. Legacy automakers are quickly moving to electrify their fleets, and startups are racing to get models in production by the end of 2021.

The U.S. is also not alone in its push to electrify roads — and its automakers are not the only companies racing for market share.

At surface level, investors are already watching as Chinese companies race to get their all-electric vehicles on roads throughout China… and the rest of the world. But as CoinTelegraph reported today, there is another catalyst for growth in the Chinese EV market.

In recent weeks, government officials have been taking a stand against cryptocurrency miners. Guizhou province, finding itself with freed-up power capacity, is already making a pivot. It has already promised to build 4,500 EV charging stations in 2021… and 5,500 by 2023.

So what is the bottom line? U.S. automakers are making a mad dash to electrify, but the ramifications of crypto crackdowns in China could complicate the story.

Your Vaccine Status, Please

Clear Secure (NYSE:YOU) came public at the end of June in an initial public offering that valued the biometrics company at $4.5 billion. Although the company may not be a household name, its solutions are certainly familiar. Clear Secure provides security solutions for airports, stadiums and other entertainment venues, such as its full-body scanners.

Importantly, at the start of the pandemic, Clear Secure made a smart pivot. With less people making their way through Transportation Security Administration processes, there was less of a need for its solutions. That prompted Health Pass — a solution that links biometric data to Covid-19 health data.

Or, in other words, users can insert their Covid-19 testing and vaccination information, and Clear Secure takes it a step further. Instead of just relying on an app (with potentially doctored information), Clear Secure links your vaccine status to your face or fingerprints. This makes it secure — and cracks down on fraud concerns.

Why does this matter? The first implication for investors is that YOU is a smart play for this new phase of the pandemic. Just today, United Airlines (NASDAQ:UAL) implemented a vaccine mandate for all of its employees. With more and more employers following suit, health trackers like Health Pass could play a critical role.

The second implication, as the team at Robinhood Snacks writes, is that Clear Secure will be a winner in a world where health data is everything.

What Else We’re Watching

  • The regulatory crackdown in China continues and Didi (NYSE:DIDI) is not considering drastic measures. According to a new report from Bloomberg, the ride-hailing company is considering giving the government control of its data. DIDI stock is down nearly 40% since coming public.
  • Sorry Mark Zuckerberg, some things are just more “meta” than Facebook. It turns out that Robinhood (NASDAQ:HOOD) is becoming the king of the meme stocks. As of market close on Wednesday, 25% of the float was being sold short.
  • Microvast (NASDAQ:MVST) is generating buzz on Friday, with shares up more than 10%. Without any news, it seems the electric vehicle battery company has earned the favor of retail investors.
  • Mattel (NYSE:MAT) is looking to capitalize on the Covid-19 toy boom and thank healthcare workers all in one go. The company announced that it was creating six one-of-a-kind dolls honoring women fighting the pandemic.

On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Sarah Smith is the Editor of Today’s Market with InvestorPlace.com.

Article printed from InvestorPlace Media, https://investorplace.com/2021/08/what-will-the-stock-market-do-today-3-big-stories-ev-stocks-lcid-stock-you-stock/.

©2022 InvestorPlace Media, LLC