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

Senin, 10 Agustus 2020

10 things you need to know before the opening bell


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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. Gold could surge over 90% and hit $4,000 so long as these two factors remain under control. The CEO of US Global Investors said central banks are "working together like a cartel and they're all printing trillions of dollars."

2. Fed's Kashkari warns that unless a stricter US lockdown is imposed, the last few months could feel just like a 'warm-up to a greater catastrophe'. "If we aren't willing to take this action, millions more cases with many more deaths are likely before a vaccine might be available."

3. Goldman Sachs lifts 2021 US GDP forecast to 6.2% and predicts a COVID-19 vaccine will be 'widely distributed' by mid-2021. The bank now projects the US unemployment rate will decline to 6.5% by the end of 2021, down from a previous 7% forecast.

4. Warren Buffett's Berkshire Hathaway grew profits by 86% last quarter as its stock portfolio soared in value. The billionaire investor's company posted an 11% drop in revenue, but that was offset by almost $30 billion in investment gains.

5. The 5 biggest takeaways from earnings season, according to a Wall Street chief stock strategist. RBC Capital Markets scoured quarterly reports, earnings calls, estimate changes, and price reactions to better understand the virus-rattled market.

6. A Wall Street investment chief warns new stock-market highs could be setting up a 'historic trap' for investors — one that also appeared just before the dot-com crash. The stock market's next record high could be incredibly short-lived — or it may not happen for a while longer, says Doug Ramsey of The Leuthold Group.

7. JPMorgan says buy these 19 'diamond in the rough' stocks that have plunged from yearly highs, but are spring-loaded for huge gains ahead. Eduardo Lecubarri says these smaller, yet-to-recover stocks could stand out from broader indexes that look like they're going sideways.

8. US and European stocks are up. In Europe, Germany's DAX rose 0.3%, Britain's FTSE 100 rose 0.5% and the Euro Stoxx 50 rose 0.5%. In Asia, China's Shanghai Composite closed up 0.7%, Hong Kong's Hang Seng fell 0.6%, and Japan's Nikkei fell 0.4% at the close. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the US Tech 100 rose 0.3%.

9. Earnings keep coming. Duke Energy, Marriott, and Royal Caribbean Cruises are highlights.

10. On the data docket today. The US 3-month and 6-month bill auctions are due.