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1. Markets haven't yet seen capitulation from investors. The recent rout in stocks signals an investor exodus is underway, Bank of America strategists wrote in a Thursday note. But downside still looms.
"Fear & loathing suggest stocks prone to imminent bear market rally but we do not think ultimate lows have been reached, nor ultimate highs in yields," the bank wrote.
3. On deck today: Planet Green Holdings, Kingsoft Cloud, and Creative Realities, all reporting. Plus, keep an eye out for John Williams, the president of the Federal Reserve Bank of New York, who is due to make a speech at 8am ET.
5. Gas prices have surged — but diesel prices have also hit record highs. The sticker price at the pump is noticeable, but a severe supply shortage in diesel holds massive repercussions for the economy and inflation. Here's what you want to know.
6. Crypto billionaire Sam Bankman-Fried says Bitcoin has no future as a payments network. According to the Financial Times, Bankman-Fried said Bitcoin's "proof of work" system won't be able to handle millions of transactions. Here's what else he said.
9. Famed $18 billion value investing firm Ariel has 7 different funds beating their benchmarks or the broader market. Longtime stock pickers from the company discussed the turn toward value stocks and what they're watching as the market tumbles. Here's what they are buying right now.
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10. Americans' hope for the economy is sinking. A preliminary reading of University of Michigan's index of consumer sentiment on Friday shows that it's reached its lowest point since August 2011 — that's a dip from 65.2 in April.
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