Anything For You All: 10 things you need to know before the opening bell

Rabu, 05 Februari 2020

10 things you need to know before the opening bell


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10 Things Before the Opening Bell

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

1. 'The punch bowl has been aggressively spiked': $1 billion asset manager sounds the alarm after Tesla's 300% stock rally. "When a market cap of that size can go hyperbolic in a short period of time for no real reason, it is certainly symptomatic of an environment that is not normal."

2. 'Watch out Tesla believers': Critics are piling on to warn the 300% stock rally will crash and burn."This is an incredibly dangerous place to be buying the stock and I have no doubt it will end in tears for many people."

3. HSBC will reportedly cull senior managers, review footprint in strategy shift. As part of a wider strategy overhaul, the bank will unveil a fresh round of job cuts targeting senior international managers and shrink its presence in some smaller markets, people with knowledge of the matter told Reuters.

4. Disney Plus has gained 28.6 million subscribers since launching in November. The entertainment giant set a goal last April of racking up 60 million to 90 million subscribers by 2024.

5. British Airways owner IAG sees marginal impact of coronavirus on global travel. IAG's CEO said the airline industry is healthy enough to absorb any economic slowdown in China.

6. Snap says it agreed to a $187.5 million settlement in a lawsuit where investors said that the company understated Snapchat's threat from Instagram. The social-media group took a $100 million hit from the settlement as insurance covered the rest.

7. Spotify reported a better-than-expected rise in paid users. The music-streaming giant posted a 29% rise in premium subscribers last quarter as it rolled out promotions to fend off Apple and Amazon.

8. Global stocks are up. European equities jumped with Germany's DAX up 1.1%, Britain's FTSE 100 up 0.6%, and the Euro Stoxx 50 up 0.9%. Asian indexes rallied with China's Shanghai Composite up 1.3%, Japan's Nikkei up 1%, and Hong Kong's Hang Seng up 0.4%. US stocks are poised for a positive open with Dow Jones, S&P 500, and Nasdaq futures up 0.7% to 0.8%.

9. There's a bunch of data out today. The latest Markit services and ISM non-manufacturing figures are the highlight.

10. It's another big day for earnings. Spotify, Merck, and General Motors are some of the key releases.