10 things before the opening bell
Let's jump in.
1. Global stocks are on the rise as investors look through downbeat data. The mood for equities is positive despite a COVID hit to Chinese manufacturing, as attention starts to turn to Friday's monthly US jobs update. Check out the latest market moves to see whether the positivity sticks.
2. Hurricane Ida is set to push up gas prices. Moody's said that Ida will mimic the gas spike following Hurricane Katrina in 2005, and could weigh on consumer spending and GDP. The energy market's reaction has been muted so far - here's what could come next.
3. This Morgan Stanley strategy can help investors avoid losing big as a 10% sell-off into year-end threatens the S&P 500. Market sentiment could soon shift, and Morgan Stanley warns a correction may be looming. The firm broke down a simple strategy to employ in preparation for the shift - and listed four promising sectors to own during a downturn.
4. On the docket: Okta, Pernod Ricard S.A., and Veeva Systems, all reporting.
5. Zoom took a dive despite beating earnings forecasts. Shares fell as much as 17% after the popular video-meeting company issued disappointing forward guidance. Loosening COVID-19 restrictions have people using its services less often.
6. The CEO of eToro explained how his team decides which cryptocurrencies to list. The factors include customer interest, due diligence, and regulatory overview. The online brokerage added seven new cryptocurrencies this year - here's the full rundown of what it takes.
7. Cryptocurrency hacks and fraud are on track for a record year. Data shows that nearly $3 billion worth of digital currency frauds have occurred in 2021 so far. Check out the full details here.
8. Allbirds is looking to pioneer the 'sustainable public equity offering.' The upstart shoe brand will ensure its investors meet ESG criteria in its upcoming IPO, reiterating its commitment to sustainability. It's targeting a $2 billion valuation.
9. An ex-Goldman hedge-fund exec predicts bitcoin could hit $400,000 and sees ether surpassing $20,000 by March. Raoul Paul, whose portfolio consists entirely of crypto, details his forecasts. Further, see which altcoins he has in his portfolio.
10. Meet a 33-year-old who now owns 167 rental units after putting zero money down. Sam Primm used a private lender for his first property before transferring his loan to a mortgage. Get the full scoop on the real estate mogul.
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