10 things you need to know before the opening bell

Learn More about BI Prime View online           10 Things Before the Opening Bell     Advertisement 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. The EU agreed a historic, unprecedented 750 billion euro ($860 billion) recovery fund as the bloc fights the fallout of coronavirus. The package comprises around 390 billion euros in grants, and a further 360 billion euros in low-interest loans. 2. European stocks surge as EU leaders agree the 'shiny' recovery pact. The pan-continental Euro Stoxx 50 climbed 1.5%, while Germany's DAX was up 1.7%. US stocks are also set for a positive open, gaining between 0.7% and 0.9%. 3. UBS saw profits slide 23% in the second quarter as it warns of credit losses ahead due to COVID-19. The giant Swiss lender was the first major European bank to release second quarter results, and they showed the impact the pandemic is having on the sector. 4. Warren Buffett's dealmaker closed the biggest 'blank-check' takeover ever this month. Former Citi banker Michael Klein reportedly owes the Berkshire Hathaway chief for putting the target on his radar. 5. AI startup Eigen says the coronavirus recession will be 'deeper than 2008.' Here's how the Goldman Sachs-backed company is working with banks to prevent another crash. The 2008 global financial crisis triggered widespread regulatory reform to keep a tighter rein on banks and their risk-taking. 6. $8.6 billion trading app Robinhood is canceling its UK launch amid an explosion in day traders. Robinhood has postponed its UK launch indefinitely to focus its efforts on the US, where it has seen millions of new users this year. 7. IBM's CEO says that the economic recovery will take longer than expected as the company declines to give new 2020 guidance: 'We were a little bit optimistic'. New CEO Arvind Krishna warned that it will take longer for the economy to recover as the tech giant announced that it will not issue a guidance for 2020 8. Uber has been quietly helping governments with contact tracing for months. Uber has been quietly helping health officials around the world with contact tracing, the company told Reuters. 9. Earnings coming in. Philip Morris Q2 2020 and Novartis Q2 2020 earnings are due.  10. On the economic front. US API Weekly Crude Oil Stocks and Canadian Retail Sales are due.      Was this email forwarded to you? SUBSCRIBE NOW     You received this email because you signed up to this Business Insider newsletter using the email: ipat39@gmail.com   Email preferences Unsubscribe TERMS OF SERVICE PRIVACY POLICY 1 Liberty Plaza, 8th Floor. New York, NY 10006