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Here’s what you need to know before markets open.
1. Global stocks hover below record highs as investors anticipate US inflation data. Oil fell for the second day in a row.
2. Cryptocurrencies sink as widespread rout wipes $200 billion off the market in a day. Regulatory concerns, slowing investor interest and and online criticism affected markets.
3. The Fed’s current ‘policy of patience’ will cause inflationary pressures to resurface, Deutsche Bank says. It might take until 2023, but inflation will come back, the firm’s researchers argue.
4. Wall Street brokers are limiting who can bet against meme stocks, reports say. Goldman Sachs, Bank of America, Citigroup, and Jefferies Financial are among those trying to protect themselves from sharp price surges and falls.
5. AMC executives made millions last week. They sold their shares during the entertainment company’s meme-stock driven rally.
6. Earnings expected. No major companies are reporting earnings today.
7. On the data docket. Japan’s updated GDP figures were released, US April trade balance and job openings data are due.
8. 24-year-old Austin Hankwitz is one of TikTok’s biggest investing influencers with nearly 500,000 followers. He told us his 3 strategies for picking the most rewarding stocks, and his top picks right now
9. UBS is eyeing opportunities in the real estate market as the economic reopening spurs record activity. The firm handpicks 7 real estate stocks to own in the post-pandemic world.
10. An ETF manager overseeing $5.5 billion has beaten the S&P 500 in each of the last 5 years. He details the value-driven strategy he uses to find high-upside companies with big competitive moats.
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