Brendan McDermid/Reuters
Here’s what you need to know before markets open.
1. US stocks set to pull back from record highs as COVID and economic worries come to the fore. See what markets are doing this morning.
2. Short-seller Citron said its scheduled livestream on GameStop was halted by attempted Twitter hacks. The renowned short-seller was scheduled to highlight reasons to sell.
3. IBM tumbles 7% in pre-market trading after 4th-quarter revenue miss. Client uncertainty hit its software sales, and investors reacted badly.
4. Intel drops 4% after a reported hacking forced the chipmaker to release its 4th-quarter earnings early. Intel said it “put our earnings out as soon as we were aware”.
5. Bitcoin falls 11% after report suggests a critical flaw called ‘double spend’ may have occurred. The report was later debunked, but it worried speculators amid a negative newsflow.
6. Warren Buffett’s right-hand man has flagged a ‘speculative frenzy’ in the stock market. Here’s what Charlie Munger had to say about the outlook for shares.
7. It’s a quieter earnings calendar today. It includes Kia Motors, Kansas City Southern, and India’s Reliance Industries.
8. On the data docket. The IEA releases oil stocks figures and IHS Markit publishes the US purchasing managers’ index.
9. Goldman Sachs is looking closely at companies that still haven’t fully recovered to pre-pandemic levels. The firm recommends buying these 22 stocks set to explode higher as earnings expand.
10. The chief investment strategist at a $9.6 billion volatility-focused money manager breaks down why the stock market is poised to get more chaotic. He also shares how investors can take advantage of it.
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