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10 things before the opening bell

Oct 18, 2021, 16:28 IST
Business Insider
Reuters

Welcome to 10 Things Before the Opening Bell.

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Let's get into it.

1. Inflation fears are back in play, dragging stocks lower even after earnings season's strong start. On the upbeat side, the coming of the first US bitcoin futures ETF is lifting the crypto toward record highs. Check out the latest moves on the markets.

2. The US Treasury is looking to partner with crypto firms to prevent illicit activities. Crypto transactions remain difficult to trace, and a rise in ransomware payments have ensued. This marks the department's first overt outreach to the crypto industry.

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3. UBS is eyeing stocks poised to best weather the global supply chain crunch. The firm is focused on companies with strong pricing power that can counteract rising costs. Check out their 12 picks here.

4. On the docket: Charles Schwab, Philips N.V., and State Street Corp., all reporting.

5. Cathie Wood said Robinhood is the closest thing to a meme stock Ark Invest has ever owned. The rest of the meme stocks are "dinosaurs," said Wood. She explained why her firm is instead on the hunt for the next FAANG stock.

6. Tesla stock could jump 15%. Jefferies set its highest-on-Wall-Street price target for the EV company at $950 amid the company's production ramp-up. Read why the firm expects the stock to surge.

7. Fundstrat thinks Ethereum could soon hit a record high of $4,900. The coin could see a breakout jump in price as its growing market share suggests further momentum ahead. In recent days, ether has been gaining ground on bitcoin.

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8. Warren Buffett's Berkshire Hathaway has nearly doubled its investment in Bank of America. In a stretch of 12 days last year, Buffett's company poured $2.1 billion into BofA stock. Now the investment is paying off handsomely.

9. We spoke to a 30-year-old crypto VC who runs one of the largest DeFi investing funds. Vance Spencer breaks down two early bets that have taken off exponentially. He also shares the next emerging trend on his radar.

10. A chief strategist who warned of weakness before the 2020 crash is seeing red flags again. He outlines 3 signals that stocks are due for a tough road ahead. Read his full comments on stagflation and other hot-button topics.

Compiled by Phil Rosen. Feedback? Email prosen@insider.com or tweet @philrosenn.

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