10 things you need to know before the opening bell
Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.
Here’s what you need to know before markets open.
1. Bitcoin poses no threat to gold, Goldman Sachs says. Institutional investors and wealthy individuals avoid cryptocurrency investments because of transparency issues, the bank said.
2. “Cyberpunk 2077” publisher’s stock plummets 20%. The Polish game studio suffered fresh backlash to its release of a bug-ridden video game.
3. Poshmark files to go public. The clothing resale marketplace listed the size of its offering at $100 million for now, and an IPO price range hasn’t been set yet.
4. Bill Miller doubled the S&P 500 this year. The legendary investor’s $2.2 billion mutual fund is up 36% year-to-date, more than double the S&P 500’s return of 16% including dividends.
5. Robinhood pays $65 million to settle SEC probe. The brokerage settled charges that it misled clients on its revenue from trades and the quality of its service.
6. Earnings expected. Nike, Carnival, and Darden Restaurants are highlights.
7. On the data docket. The Baker Hughes US oil rig count and CFTC gold net positions are due.
8. Why betting on volatility can have a Dennis Rodman-like impact on portfolios. A veteran hedge fund manager explains the analogy, and shares how to build a dragon portfolio designed to win over the next 100 years.
9. JPMorgan says stocks are primed for sustained gains in a way they haven’t been in years. The firm identifies 43 names to buy for above-average earnings growth in 2021.
10. UBS expects China to start dominating the electric-vehicle space sooner than later. The bank provides 26 stock picks that can help investors ride the wave higher.
Source: Read Full Article