10 things before the opening bell

Welcome to 10 Things Before the Opening Bell.

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Let's get into it.

1. Oil is making a comeback as enjoyment of rapid growth overtakes Delta variant jitters. But US stock futures are treading water after a slip lower for the Dow. Take a look at what's happening on the markets.

2. The Fed is late on tapering, says legendary chief economic advisor. Mohamed El-Erian said the Fed should have taken note of inflationary signals long ago. Here's why he recommended investors stick to tech stocks like Facebook and Apple.

3. Moderna's stock price spiked 17% amid a flood of news showing vaccine demand is still high. At intraday highs, Moderna went ahead of Merck in market value, giving the mRNA developer a valuation of nearly $200 billion. Like its competitor, BioNTech, the company may be called upon to produce booster shots down the line.

4. Earnings on deck: Softbank, Coinbase Global, and Bridgestone all reporting.

5. After a short stint, the US head of Binance is out. Following three months as CEO of the crypto exchange, Brian Brooks resigned due to differences in strategic direction. The resignation comes amid crypto regulatory changes worldwide - see the full details here.

6. Famed short-seller Carson Block says investors in Chinese assets don't properly assess the risk. Increasing regulatory crackdowns on Chinese tech companies, among other sectors, have sent some stocks plummeting. Block said the Chinese government makes quick, capricious decisions about its domestic companies - which is why he's been short on Chinese stocks for years.

7. Tesla investors: Look out for a 22% upside, says Jefferies. The firm adjusted its 12-month price target to $850 for the EV company, and changed its rating to "buy." Tesla continues to lead the way for auto companies' strong earnings reports - "Tesla is the benchmark [for capital employed]," Jefferies wrote.

8. Inflation: Everyone's talking about it. There's been a 900% surge in mentions of inflation for S&P 500 companies this quarter, according to Bank of America. More companies are flagging cost pressures and labor-related concerns over inflation - see the numbers behind many companies' growing concerns.

9. Surprise - meme stocks are still in play. Data provider Fintel identified several heavily shorted stocks primed for a squeeze this week. The top five stocks include Support.com and Creatd - get Fintel's full list here.

10. Doge is heading to the moon and ether to $14,000, according to one payment platform CEO. Because of a new network upgrade to ethereum, David Gokhshtein says its price is set to surge. Then, ether's spike will lift the rest of the crypto tide as well. The CEO explained why cryptos are set to boom - plus, he shared his forecast for bitcoin.

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

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