10 things you need to know before the opening bell
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Here’s what you need to know before markets open.
1. Global stocks rise as investors bet on a swift push by Democrats to pass Biden’s stimulus plan. US futures pointed towards a higher start on Wall Street.
2. ‘Big Short’ investor Michael Burry says Tesla’s $1.5 billion bet on Bitcoin was a distraction – and Dogecoin’s record price signals a massive bubble. The famed short-seller suggested Tesla’s investment was distracting from interest from Chinese regulators.
3. Colin Kaepernick is getting in on the SPAC game – and is hunting for a $1 billion firm with a social purpose. SPAC-mania has drawn in the quarterback and campaigner.
4. JPMorgan says other big companies are unlikely to copy Tesla’s big cryptocurrency bet because of Bitcoin’s volatility. Bitcoin’s wild price swings make it a problematic treasury holding, JP said.
5. One in 5 Americans are now playing the stock market as COVID-19 creates an army of day traders. Booming markets and spare cash have encouraged Americans to trade, a new survey said.
6. Earnings expected: Coca-Cola and Uber are among the big names reporting.
7. On the data docket: The market’s eyes will be on US inflation figures.
8. Goldman Sachs is looking at the best places to invest if interest rates stay low. The firm says buy these 26 ‘best of both world’ stocks that will soar as the economy recovers.
9. Short-seller Carson Block says the GameStop-driven day-trader revolution is changing the playing field for investors like him. He told us how his firm is reinventing itself – and what he’s betting against today.
10. An ex-Merrill Lynch ETF maven shares how to construct a portfolio that’s perfect for today’s market landscape. Jon Maier also outlines 4 must-have sectors for sustainable returns.
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