10 things before the opening bell

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10 things before the opening bell
Evergrande Center in Shanghai, China. Feature China/Barcroft Media via Getty Images)

Welcome to 10 Things Before the Opening Bell.

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Let's get into it.


1. Stocks are attempting a recovery after yesterday's tech-led tumble. Worries about inflation-driven interest-rate rises bashed the likes of Amazon and Facebook, as this week's jobs report brings a Fed taper back into focus. Check out how the markets are moving.

2. Facebook tumbled after a whistleblower alleged it gives divisive content more reach. Shares dipped more than 5% following a bombshell 60 Minutes interview - and ahead of the whistleblower's congressional testimony today. Here's how this impacted the market.

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3. Morgan Stanley released a list of cheap stocks to buy that could outperform a bearish market. Analysts said this group of stocks are set to combat macro headwinds and should be able to withstand a market correction. See their list of 25 stocks.

4. Earnings on deck: PepsiCo, AEON mall, and James Halstead, all reporting.

5. Evergrande aims to raise $5 billion by selling a half-stake in its property service unit. Hopson is set to acquire a 51% stake to provide crucial cash flow to the Chinese real estate giant ahead of its next interest payment. Read the latest development on the Evergrande crisis.

6. Tesla shares jumped after reporting record deliveries in the 3rd quarter. The EV company rallied by as much as 3% Monday as the company delivered 241,300 vehicles globally this quarter despite a chip shortage that rocked competitors. See what Elon Musk tweeted about it.

7. The Fed's vice chair made multimillion-dollar trades right before Jay Powell signaled new COVID-19 monetary policies in 2020. The day before Powell hinted at taking pandemic policy action, Richard Clarida switched between $1 million to $5 million from a bond fund into stock funds. Get the full details here.

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8. Penny-stock trading volume hit a record $548 billion, surpassing 2020 totals. Retail traders have entered the market in droves this year, already setting the full-year record by the end of September. The penny-stock surge is set to continue through the end of 2021.

9. These meme stocks offer the greatest short-squeeze potential this week. Research firm Fintel released their list of companies that could become the next AMC or GameStop, with three brand-new names. See the full list here.

10. The CEO of a crypto bank who applied for Fed membership is hoping to bring digital currencies closer to the mainstream. Caitlin Long, a 22-year Wall Street veteran, believes the membership would bring significant US dollar deposit capacity to her sector. Here's why she expects crypto policy movement in the coming weeks.


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

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