10 things you need to know before the opening bell
Nov 20, 2018, 17:49 IST
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Here is what you need to know.
- Bitcoin plunges below $4,500. The benchmark cryptocurrency has slumped 22% this week amid a dispute among Bitcoin Cash (BCH) developers that led to a hard fork of the currency on Friday.
- Pacific Gas and Electric Company discloses a second power-line outage. California's biggest utility provider said in a filing that the outage occurred on the morning of November 8, when the deadly Camp Fire broke out.
- Carlos Ghosn is unfit to lead Renault, Bruno Le Maire, the French finance minister, said. The Nissan chairman was arrested Monday in Tokyo amid financial misconduct allegations.
- Andrew Left is bullish on the Tesla of China. In a note on Monday, Left's Citron Research said the electric-car company's shares have "little resistance" on their way to rallying to $12, a jump of about 60%.
- A $736 billion strategist is bracing for a 2019 stock-market meltdown worse than anything we've seen this year. Andrew Milligan, the head of global strategy at Aberdeen Standard Investments, exclusively shared with Business Insider three ways investors can profit from a 5%-15% correction.
- Legendary investor Joel Greenblatt unpacks the Warren Buffett-inspired "magic formula" that's crushed the market. Greenblatt's Gotham Index Plus fund, has beaten 99% of its peers over the past three years.
- Target plummets 7% after missing sales expectations ahead of the crucial holiday season. Third-quarter sales at stores open for at least a year rose 5.1% versus 5.2% expected.
- Best Buy and Kohl's beat earnings forecasts and raised guidance. Foot Locker and Gap report after the market close.
- Housing data is coming. The Census Bureau will release its monthly starts and building permits numbers at 8:30 a.m. ET. The 10-year yield is down less than 1 basis point at 3.052%.
- US stock futures indicate another red open. Nasdaq futures are down 77 points, or 1.16%, and Dow futures are down 182 points, or 0.7%.