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Senin, 08 Februari 2021

10 things you need to know before the opening bell

Today's top news and analysis.
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10 THINGS BEFORE THE OPENING BELL

Former Federal Reserve Chair, Janet L. Yellen, President- elect Joe Biden pick to be Treasury Secretary

 

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. US stocks on track to hit new highs after Janet Yellen pushes for $1.9 trillion stimulus, while Brent crude tops $60. Markets are up as investors focus on the recovery.

2. SoftBank's Vision Fund posted a record $8 billion profit in the third quarter as its bets on DoorDash and Uber paid off. Masayoshi Son's fund reaped big rewards from booming markets.

3. Treasury Secretary Janet Yellen says workers earning up to $60,000 a year should receive stimulus checks under the proposed $1.9 trillion relief package. Yellen said the stimulus could help the US hit full employment next year.

4. The GameStop buying frenzy was driven by 'irrational exuberance' - and investors should consider cashing out, market bull Ed Yardeni said. The Yardeni Research president highlighted government stimulus as a key driver.

5. Hedge fund billionaire Paul Singer's Elliott Management is looking to raise over $1 billion to fund a SPAC, report says. The WSJ said Elliott is in talks with banks over a blank-check company.

6. Earnings expected. Private equity firm KKR and games-maker Hasbro are due to report after SoftBank released its figures.

7. On the data docket. A quiet day. European investor sentiment came in lower than expected in February.

8. RBC says small-cap companies are poised to continue dominating the market. The firm says to buy these 15 stocks now, and details why each is a top pick for 2021.

9. A hedge fund manager who wrote a definitive book on short-selling breaks down how his strategy helped him evade the squeeze on GameStop. Nitin Sacheti also shares what types of stocks he's buying and shorting now.

10. Goldman Sachs says the reflation trade is on. The firm has identified these 5 market dynamics that could shift materially as price pressures build.

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