10 things before the opening bell
Mike Segar/Reuters
Welcome to 10 Things Before the Opening Bell.
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1. Stocks are still marching higher, with markets taking heart from a steady drop in coronavirus cases. Even downbeat Chinese data could spoil the optimistic mood as the global growth rate in cases stalls. Check out the latest moves on the markets.
2. You might be able to trade stocks on Paypal soon. The firm hired an investing-industry veteran to lead a team that will explore a stock-trading offering for US customers. It likely won't launch this year, but here's what to look out for.
3. Four other stocks may mimic Support.com's recent short-squeeze surge. The software company could have more room to keep rising, and other stocks including Lightning eMotors and Vinco Ventures could get the meme-stock treatment. Here's the full list from Fintel.
4. On the docket: CrowdStrike, Sun Pharmaceutical and Hua Xia Bank, all reporting.
5. Shares of Louisiana's biggest utility provider dipped 4% after Hurricane Ida damages left more than 1 million without power. Entergy said all of its transmission lines were down following the storm, and officials expect the power outage to last for days more. Here's how Ida is impacting the local utility market.
6. Mohamed El-Erian thinks the Fed has waited too long to taper, and sees economic instability coming as a result. The Allianz chief economic advisor has repeatedly said that the Fed's dovish tone could put the economy at risk as it slowly trims asset purchases. This is how he thinks things will shake out.
7. The crypto bubble will pop - invest in gold instead, says billionaire investor who called the 2008 crash. John Paulson described crypto as a "limited supply of nothing" and is anything but bullish on digital currencies. Here's why he thinks you should bet on gold to hedge against inflation.
8. George Soros isn't betting on China's stock market to rebound. He told investors to be wary of Chinese stocks, warning that those who buy into the recent rally are in for a "rude awakening." Read the legendary investor's full comments here.
9. US tech stocks could jump 10% by the end of the year as investors rotate out of Chinese names. Amid ongoing Chinese regulation, Wedbush's Dan Ives sees a positive market landscape for US-based FAANG stocks, cloud names, and cybersecurity companies. See the stocks he's particularly bullish on.
10. Morgan Stanley revamped its 'Vintage Values' stock list that's crushed the S&P 500 over the past year. The 15-stock selection includes Alphabet and Coca-Cola. Here's the full list.
Compiled by Phil Rosen. Feedback? Email prosen@insider.com or tweet @philrosenn.
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