10 things before the opening bell

10 things before the opening bell
A pool of $400 million contributed by taxpayers is waiting for Congress to decide how best to use it. Getty Images

Welcome to 10 Things Before the Opening Bell.


If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go - click here for iOS and here for Android.

Let's get into it.

1. US stock futures are edging higher, after China's Evergrande allayed some concerns over its debt repayments. Investors now await the outcome of the two-day meeting of the Federal Open Market Committee. Here's what's been happening so far today.

2. Fundstrat says the market could see a full rebound after the Evergrande sell-off as early as this week. Head of research Tom Lee pointed to technicals and contained Treasury yields among the four reasons why stocks are set to surge.


3. Evergrande's debt crisis sparked a steep sell-off, and experts are split on whether this is China's "Lehman moment." Caution is warranted, and if the Chinese property giant defaults, it could have massive ramifications across global markets. So is it time to buy the dip or sell like mad? Seven top strategists laid out how they're approaching the crisis.

4. On the docket: General Mills, BlackBerry, and KB Home, all reporting.

5. Jim Chanos says US casino stock Wynn is 50% overpriced amid Macau's casino crackdown. The veteran trader holds a short position against the stock, as he believes Wynn's exposure to the potential overhaul of the gambling industry in Macau shouldn't be ignored. See the rest of Chanos's stock predictions.

6. WeWork is set to go public via a SPAC deal in October. It's been two years since the coworking-space company's botched IPO attempt. WeWork is valued at less than a fifth of the $47 billion valuation it secured in 2019. Read the full report here.

7. The US Treasury issued its first-ever sanctions against a crypto exchange for aiding ransomware attacks. The Treasury has blacklisted Russian-owned Suex for its role in laundering financial transactions for ransomware actors. Now, all US citizens are banned from engaging in transactions with the crypto firm.


8. Amid Evergrande chaos, Cathie Wood bought the dip in Coinbase and Robinhood. Wood's Ark Invest bought up hundreds of thousands of shares in the companies, reinforcing her patented buy-the-dip approach to investing. See the numbers behind Wood's latest mass-purchase.

9. This hedge fund manager who returned over 4,000% in Q1 2020 says the markets are in uncharted territory. Mark Spitznagel believes we are in a "boom-bust" cycle, so investors need a risk mitigation strategy. He shared his approach for maximizing gains during financial storms.

10. A 25-year-old crypto-wiz millionaire shares the resources he uses to keep up with tokens. Cooper Turley recommends treating crypto trading like a full-time job because of how quickly the market can change. Here's how Turley stays on top of trends to make the best trades.

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

Sign up for more Insider newsletters here.