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

Kamis, 23 Juli 2020


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10 Things Before the Opening Bell

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

1. Twitter stock soars after the company reports adding 20 million users in 3 months. Investors cheered as the social-media group grew its daily active users by 34% year-on-year to 186 million.

2. Tesla stock surges after it scores 4th straight quarterly profit, paving the way to the S&P 500. Elon Musk's electric-car company reported $104 million in net income, compared to a $408 million loss a year ago.

3. Warren Buffett just plowed $800 million into Bank of America, boosting his stake to over 11%. The billionaire investor and Berkshire Hathaway CEO snapped up almost 34 million shares in three days.

4. Former Wirecard CEO Markus Braun was arrested for a 2nd time in relation to the company's $2 billion accounting scandal. Two other executives — Wirecard's former finance boss, Burkhard Ley, and Stephan von Erffa, ex-head of accounting — were also arrested.

5. Republican lawmakers want Twitter CEO Jack Dorsey to testify at Big Tech antitrust hearings following the social media platform's massive hack. The chief executives of Amazon, Apple, Google, and Facebook are all set to appear before the House Judiciary Committee on July 27.

6. Warren Buffett isn't warning about sky-high stocks because he 'doesn't want to make people mad,' veteran investor Bill Smead says. "He won't say anything because he's 89-years-old and doesn't want anyone to be angry when he dies," the Smead Capital Management boss said.

7. A Wall Street expert details the hurdles that must be cleared before a bitcoin ETF is approved — and explains why other investing substitutes for the crypto fall short. Prospective issuers of a Bitcoin ETF face several hurdles. Here's what they need to overcome — and when they might do it.

8. Global stocks are mostly up, but seeing only small gains. In Europe, Germany's DAX rose 0.5%, Britain's FTSE 100 rose 0.6%, and the Euro Stoxx 50 rose 0.5%. In Asia, China's Shanghai Composite fell 0.2%, Hong Kong's Hang Seng rose 0.8%, and Japan's Nikkei fell 0.6% at the close. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the Nasdaq rose between 0.3% and 0.6%.

9. Earnings expected today. Intel, Unilever, AT&T, Blackstone, Daimler, and Hershey are highlights.

10.On the economic front. Initial jobless claims and the 4-week-bill-auction are due for release.