10 things before the opening bell
Let's get into it.
1. Amazon missed quarterly sales estimates for the first time since 2018. The boom in e-commerce from the pandemic has cooled. And it could end up being a rough day for the stock later.
2. Cathie Wood has reportedly sold a huge amount of Roku stock this month. The stock is up 200% over the last year, and Wood's flagship ETF has capitalized. Analysts say the move plays into Wood's strategy: buy into winners and gradually cash in.
3. Chinese stocks are trading at steep discounts - should you buy the dip? Investors are torn whether to buy or steer clear, given the uncertainty surrounding Chinese tech stocks like Alibaba, Baidu, and JD. But if antitrust issues blow over, the dip may be the best buy - four experts share how they're reacting to the sharp selloff.
4. Earnings on deck: Procter & Gamble, Exxon Mobil, and Chevron all reporting.
5. Nikola fell 15% after its founder Trevor Milton was charged with fraud. He is alleged to have lied about "nearly all aspects of the business." Here's what insiders say about the downfall of the billionaire once considered to be the next Elon Musk.
6. Didi shares jumped after a report says the company is considering going private. While the stock surged, the ride-hailing app released a statement that said the report was "not true." The go-private move, according to the report, would be to placate Chinese authorities amid regulatory concerns.
7. Facebook wants to build a "metaverse" - and its stock could jump 18%. The social media giant plans to build a creator-driven metaverse by investing in virtual reality and commerce. Now, Bank of America says these ambitions will help boost Facebook's stock price.
8. Robinhood dipped during its volatile public-trading debut. The online trading app was valued at $32 billion when it priced its IPO at $38 per share. The company's seen explosive growth through the pandemic - Robinhood raised $2.1 billion from its IPO.
9. Two key metrics show that a bitcoin comeback is coming, says one crypto research analyst. The CrossTower analyst bought bitcoin for "$100 or $150" in 2013, and is focused on the crypto's flows on exchanges and Glassnode's HODL Waves. See his three trades designed to generate up to 80% returns.
10. Wall Street's top analysts say buy these 10 stocks right now for huge upside this year. The top 10 current analysts, as tracked by TipRanks, shared their top stock recommendations. Some of their picks, like Sprinklr and Cohu, have about a 50% upside. Another has nearly a 70% upside.
Sign up for more Insider newsletters here.
- Best HP laptop in India 2022: Which one is for you?
- Towards 'zero hunger': Odisha tops 'State Ranking Index' first under under National Food Security Act; UP, Andhra, and Gujarat also score high
- Best face creams and lotions for men in India
- Monsoon rain wreaks havoc in Himachal and Karnataka, orange alert in Gujarat
- Apple’s MacBook Air with M2 chip will go on sale from July 15, pre-orders starting July 8