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Coronavirus stock 10 things you need to know before the opening bell

Coronavirus stock 10 things you need to know before the opening bell

Coronavirus stock 10 things you need to know before the opening bell

Coronavirus stock 10 things you need to know before the opening bell

Coronavirus stock 10 things you need to know before the opening bell

Coronavirus stock 10 things you need to know before the opening bell


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Coronavirus stock 10 things you need to know before the opening bell

New York Stock Exchange opens during COVID-19 Reuters 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. Global stocks drop after Fed’s upbeat economic outlook dents chances of more stimulus.  Global stocks slid on Thursday, while…

Coronavirus stock 10 things you need to know before the opening bell

Coronavirus stock

coronavirus stock FILE PHOTO: Traders work inside posts, on the first day of in-person trading since the closure during the coronavirus disease (COVID-19) outbreak on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid
New York Stock Exchange opens during COVID-19

Reuters

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. Global stocks drop after Fed’s upbeat economic outlook dents chances of more stimulus.  Global stocks slid on Thursday, while the dollar edged up, after the US Federal Reserve gave no indication that any new stimulus measures would be forthcoming, as the economy continues to recover from the effects of the coronavirus pandemic

2. Tech tools developer JFrog leaps 62% after raising about half a billion in upsized IPO. American-Israeli technology provider JFrog soared 62% in its Nasdaq debut on Wednesday, after its upsized IPO raised $509 million. 

3.  Billionaire Richard Branson to raise $400 million for new SPAC as it looks to expand its Virgin empire. Billionaire Richard Branson, who is founder of the Virgin Group has joined the “blank-check” frenzy and is looking to raise $400 million to fund a possible takeover.  

4. The co-investing chief of SkyBridge explains how he finds opportunities in places where no one is looking – and shares the 3 hedge fund titans he’s plowing money into ahead of market-wide ‘muted returns’. Troy Gayeski believes that 99% of life is luck. 

5. A Wall Street firm says investors should buy these 15 cheap, high-earning stocks now to beat the market in 2021 as more expensive companies fall behind. As the US economy gets up off the mat and the stock market grows more volatile, investors are going to want to change their priorities.

6. Legendary options trader Tony Saliba famously put together 70 straight months of profits greater than $100,000. Here’s an inside look at the strategy that propelled him to millionaire status before age 25. Tony Saliba, a legendary options trader and author of “Managing Expectations,” didn’t have the ideal start in financial markets that most dream about – far from it.

7. Trump is trying to rig the FCC to pass his executive order cracking down on Facebook and Twitter. Donald Trump is trying to replace an FCC member who displeased him by questioning his executive order on social media.

8. OPEC+ panel warns of virus impact, sees signs of decline in oil overhang. An OPEC+ technical panel warned that a rise in coronavirus cases in some countries may curb oil demand despite signs of economic recovery and initial indications of a decline in oil stocks, according to an internal document seen by Reuters on Thursday.

9. Earnings coming in.  Playtech Limited and Hilton Food Group Q2 20 earnings are coming in.

10. On the economic front.  US Housing Starts Change and US Continuing Jobless Claims are coming in. 

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News

Coronavirus stock 10 things you need to know before the opening bell

Reuters 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. Global stocks struggle for direction after S&P 500 hits an all-time high, and traders eye US-China tensions. Global stocks were mixed on Wednesday, taking…

Coronavirus stock 10 things you need to know before the opening bell

Coronavirus stock

coronavirus stock FILE PHOTO: The New York Stock Exchange logo is displayed on a screen at the New York Stock Exchange in New York, United States, July 2, 2015. REUTERS/Brendan McDermidReuters

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. Global stocks struggle for direction after S&P 500 hits an all-time high, and traders eye US-China tensions. Global stocks were mixed on Wednesday, taking a breather from the rally that took the S&P 500 to an all-time high Tuesday, with Asian stocks under particular pressure amid rising US-China tensions. 

2. Warren Buffett’s $113 billion Apple stake and $147 billion cash pile now account for over half of Berkshire Hathaway’s entire market value. Warren Buffett’s Berkshire Hathaway owned about $260 billion in cash and Apple stock at the last count, representing an astounding 52% of its $499 billion market capitalization.

3. Maersk, the world’s biggest shipping company, reported a surprise 25% increase in profits. Shipping demand has been crushed by the coronavirus pandemic, but the Danish giant was able to take advantage of lower fuel prices and reported a $1.7 billion profit in the second quarter.

4. Warren Buffett disciple Joel Greenblatt averaged 50% annual returns over 10 years. He shares an investor’s approach to solving some of America’s most glaring problems right now — from education and immigration to social security. America has long been known as the land of opportunity: a place where any person — regardless of social stature or background — can prosper with enough resolve, endurance, and vigor.

5. MORGAN STANLEY: A historic shift is taking place under the market’s surface. Here are 5 reasons it could redefine the investing landscape as we know it. After they plunged from their pre-pandemic levels of 1.8% to as low as 0.5%, yields for 10-year Treasury notes have started to climb again in recent days toward 0.8%.

6. Michael Venuto’s firm provides unique ETFs that have returned as much as 60% for investors this year. He breaks down his process — and shares the ‘anomaly’ investors need to watch today. Michael Venuto was living through any fund manager’s worst nightmare: One of his biggest investments was plunging and nobody could figure out why.

7. Trump supports a TikTok acquisition by Oracle, whose chairman is a major supporter. President Trump has backed Oracle’s bid to buy TikTok, the popular Chinese-owned video app that must sell its US business within months or face a ban in the country.

8. OPEC+ meets to review compliance with oil cuts. OPEC oil producers and allies such as Russia, a grouping dubbed OPEC+, meets on Wednesday to review compliance with oil cuts meant to support oil prices amid the coronavirus pandemic.

9. Earnings coming in. NVIDIA Q2 2021 and Xiaomi Q2 20 earnings are coming in.  

10. On the economic front. US FOMC minutes and EIA Crude Oil Stocks Change are due. 

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News

Coronavirus stock 10 things you need to know before the opening bell

REUTERS/Lucas Jackson 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. Oil giant BP swings to a $17 billion loss and slashes its dividend for the first time in a decade as coronavirus turns…

Coronavirus stock 10 things you need to know before the opening bell

Coronavirus stock

coronavirus stock nymex oil natural gas traderREUTERS/Lucas Jackson

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. Oil giant BP swings to a $17 billion loss and slashes its dividend for the first time in a decade as coronavirus turns the energy sector upside down. BP had not cut its dividend since the Deepwater Horizon oil spill in 2010.

2. Warren Buffett’s Berkshire Hathaway is allowed to double its Bank of America stake to almost 25%. A spokesperson for the Federal Reserve Bank of Richmond told Business Insider this week that the famed investor can continue his BoA buying spree.

3. A small London trading house reportedly made $500m on oil’s historic plunge below zero. Oil prices turned negative more than three months ago leaving traders scratching their heads across both sides of the Atlantic, but for London-based Vega Capital London, the crash landed them a jackpot, Bloomberg reported Tuesday. 

4. Wells Fargo lays out a plausible scenario where the Fed becomes insolvent – and breaks down the catastrophic effect that would have on the bank’s ability to handle future crises. The Federal Reserve’s solvency risk is not something that investors worry about a lot, if they do at all.

5. MORGAN STANLEY: The government’s recession response has the stock market heading for a massive upheaval. Here’s your best strategy to capitalize on the shift.Investors have been brushing off inflation worries because the government’s stimulus after the Great Financial Crisis did not stoke broad-based price increases.

6. Fund manager Tom O’Halloran quadrupled investors’ money in 9 years by betting on super high-growth companies. He explains his approach, and why new technologies could make the next decade ever more prosperous than the 2010s. He also says there’s little reason to worry about the market dominance of Big Tech. 

7. The CEO of TikTok’s parent firm says Trump’s ‘real objective’ is to ban TikTok, not force a sale to Microsoft. TikTok’s owner seems convinced the Trump administration is trying to kill the app altogether, rather than force a sale to a US company.

8. Stocks are mixed and quiet. Most Eurpean stocks are slightly down, Asian stocks are up. US futures are pointing to a decline of around 0.3% for the three major indexes at the open.

9. Earnings coming in: Walt Disney’s third quarter and Monster Beverage’s second quarter earnings are due. 

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10. On the economic front: US Redbook Index and API Weekly Crude Oil Stock are coming in. 

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News

Coronavirus stock 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. HSBC’s profits dive 67% in the second quarter as COVID-19 and US-China geopolitical trade risk hit the lender. HSBC reported a plunge in profits-before-tax of 67%…

Coronavirus stock 10 things you need to know before the opening bell

Coronavirus stock

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. HSBC’s profits dive 67% in the second quarter as COVID-19 and US-China geopolitical trade risk hit the lender. HSBC reported a plunge in profits-before-tax of 67% in the second quarter of 2020 as COVID-19 and a period of geopolitical risk weighed on the lender. 

2. Warren Buffett’s Apple stake has tripled in value to more than $100 billion. Apple is by far Buffett’s biggest holding, and represents around 5.7% of the tech giant’s outstanding stock.

3. The day-trading boom is a ‘welcome phenomenon,’ and has actually helped to reduce market volatility, a veteran Wall Street trader says. At a time where day-traders have been blamed for adding market volatility and falsely inflating stocks, one veteran trader thinks they have actually reduced volatility.

4. ‘The stock market can drop as much as 80%’: A 47-year market vet explains why we’re in the midst of a global bust — and makes a case for $10,000 gold. David Hunter, the chief macro strategist at Contrarian Macro Advisors, isn’t coy in his assessment of the prevailing economic environment. 

5. A Wall Street quant chief breaks down why a COVID-19 vaccine is not the silver bullet investors have been hoping for — and warns another stock-market meltdown is likely. Stocks are recovering from their coronavirus-induced losses so quickly that even several of the world’s biggest investors are being proven wrong. 

6. These 16 global stocks have at least 20% upside in the next year — and they’ll continue to thrive as COVID-19 accelerates a crucial technological shift, UBS says.  You know the story: There’s an e-commerce and work-from-home revolution happening, and it’s sending certain types of tech stocks skyward.

7. TikTok is at the heart of a wild geopolitical dogfight which means Microsoft might buy it. The wildly popular short video app has become the subject of increasing criticism in the US due to the fact it is owned by Chinese tech giant ByteDance, a fact which some officials and lawmakers including Secretary of State Mike Pompeo say make it a national security threat.

8. Most stocks are up. Major Asian stocks are up between 0.7% and 1.1%. European stocks are up between 0.7% and 1.8%, while US futures are pointing to an increase between 0.3% and 0.9% for the S&P 500, Dow, and Nasdaq.

9. Earnings coming in: American International Group and Heineken Q2 20 earnings are due. 

10. On the economic front: US Market Manufacturing PMI Index and US Total Vehicle Sales are due. 

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Coronavirus stock 10 things you need to know before the opening bell

Here’s what you need to know before markets open. 1. Global stocks surge despite record numbers of new coronavirus infections as investors focus on the start of earnings season. China’s Shenzhen Composite surged 3.5%, while US futures are pointing to a positive open on the first day of a week that will see several US…

Coronavirus stock 10 things you need to know before the opening bell

Coronavirus stock

Here’s what you need to know before markets open.

1. Global stocks surge despite record numbers of new coronavirus infections as investors focus on the start of earnings season. China’s Shenzhen Composite surged 3.5%, while US futures are pointing to a positive open on the first day of a week that will see several US banks report Q2 earnings.

2. Warren Buffett likely bought back more than $5 billion of Berkshire Hathaway stock in recent weeks, filings show. The amount is triple the value of his buybacks in the first quarter, and is likely an effort to capitalize on his company’s huge cash reserves and depressed stock price.

3. PepsiCo beats revenue estimates on increased snack consumption. Food and beverage giant PepsiCo saw revenues fall in the quarter, but less than expected as salty snacks proved popular with consumers. Net revenue fell to $15.95 billion from $16.45 billion. Analysts had estimated $15.38 billion in revenue.

4. Dutch bank NIBC has agreed to a takeover bid from private equity giant Blackstone, it said Monday. The bid values NIBC at just over 1 billion euros ($1.13 billion). It was previously about 25% higher before the coronavirus pandemic hit, which pushed Blackstone to lower its offer.

5. Alibaba founder Jack Ma sold almost $10 billion of stock in the e-commerce giant, according to a regulatory filing. Ma has cut his stake in the company from around 6.4% to 4.8% in the past year, representing sales of around $9.6 billion at the stock’s current price.

6. More than 15,000 jobs could be at risk at German auto giant Daimler, a board member said over the weekend. Wilfried Porth told Stuttgarter Zeitung that more than 15,000 workers would now have to take a buyout or retire to avoid forced layoffs.

7. AI startup UiPath raised another $225 million in venture funding, the company said Monday, boosting the automation firm’s overall valuation to $10.2 billion. CEO Daniel Dines said the monster funding bolsters UiPath’s leadership in one of the hottest sectors in tech as he reaffirmed the startup’s intention to go public in 2021.

8. A portfolio manager invested in Berkshire Hathaway explains why Warren Buffett could still be a post-pandemic winner, even as naysayers call him ‘washed up.’ Buffett can hunt for bargains if the virus worsens, while Berkshire’s earnings will rebound if the threat subsides, Pelican Bay’s Tyler Hardt said.

9. Earnings season for Q2 kicks off this week. Atlas Financial and Wintrust Financial are among those to report later Monday.

10. Market moving events to watch Monday. Two members of the Federal Reserve’s FOMC, John Williams and Robert Kaplan, are delivering speeches, while data on the Federal Budget Balance will also be released.

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Coronavirus stock 10 things you need to know before the opening bell

Brendan McDermid/Reuters Here’s what you need to know before the markets open. 1. The Fed bought debt in Warren Buffett’s Berkshire Hathaway, Coca-Cola, Walmart, and McDonald’s in its first spree of corporate bond-buying. The Fed bought $428 million worth of corporate bonds in its first foray into company debt as part of its response to…

Coronavirus stock 10 things you need to know before the opening bell

Coronavirus stock

coronavirus stock The New York Stock ExchangeBrendan McDermid/Reuters

Here’s what you need to know before the markets open.

1. The Fed bought debt in Warren Buffett’s Berkshire Hathaway, Coca-Cola, Walmart, and McDonald’s in its first spree of corporate bond-buying. The Fed bought $428 million worth of corporate bonds in its first foray into company debt as part of its response to the coronavirus, snapping up debt in household names like Coca-Cola, AT&T, and Berkshire Hathaway in the process.

2. US shale oil giant Chesapeake Energy files for bankruptcy as the coronavirus crisis claims another energy victim. Chesapeake Energy filed for bankruptcy on Sunday, making it the biggest casualty among US energy giants as the coronavirus pandemic upends the oil industry

3. Global stocks are mixed as investors weigh COVID-19 deaths topping 500,000, and markets are hit with a ‘nervous calm’. In Asia, stocks are down. In Europe, stocks are up. In the US, futures are mixed and pointing to an open between -0.2 to 0.4%. 

4. Wirecard stock soars 185% in a dead cat bounce after its week from hell, but is still down 97% in 2020. The stricken German fintech’s stock is at around €3.18 on Monday, but was above €140 as recently as April.

5. Facebook has bent its hate speech and misinformation policies around Trump since before he was president, report says. An explosive new report from The Washington Post claims Facebook has weakened its hate speech and misinformation policies because of Donald Trump’s ascent to power.

6. LVMH-backed Australian swimsuit brand in administration due to virus. Seafolly Pty Ltd, an Australian swimsuit maker part-owned by French fashion giant LVMH Moet Hennessy Louis Vuitton SE , appointed administrators on Monday citing a sales downturn from the coronavirus, the latest casualty of the health crisis in the country’s retail sector

7. UK markets watchdog says Wirecard restrictions to stay for now. Britain’s Financial Conduct Authority on Monday said its restrictions on collapsed German payments company Wirecard will remain until its concerns have been satisfied.

8. Nokia wins Taiwan Mobile 5G contract worth $450 million. Finnish telecoms equipment maker Nokia Oyj said on Monday it has won a 5G contract worth about 400 million euros ($449.48 million) from Taiwan Mobile to build out the telecom operator’s next-generation network as the sole supplier.

9. Quarter earnings coming in. IHH Healthcare Bhd (1Q 20) and Micron Technology (3Q 20) earnings are due. 

10. Economic data releases today. The US Fed’s William speech and the US 3-Month Bill Auction are due. 

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