10 things you need to know before the opening bell
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Here's what you need to know before markets open.
1. Global stocks gain as lawmakers inch toward compromise on relief. See what markets are doing today.
2. Oil nears $50 after OPEC+ agrees to raise supply in January. Producers agreed to cautiously raise output by 500,000 barrels per day, well below the expected 2 million barrels per day.
3. Stimulus compromise backed by top Democrats scraps $1,200 direct payments. Absent from the package is another wave of relief payments that economists say is critical to aid the virus-slammed economy.
4. Paul Tudor Jones predicts an 'absolute supersonic boom.' The US will see an explosion of growth in 2021 as the COVID-19 vaccine unleashes pent-up demand from consumers and investors, he said.
5. Stocks are overbought, according to Morgan Stanley. Mike Wilson said corrections are normal in a bull market and he would use a downturn as a buying opportunity.
6. Cruise stocks surge after Bank of America lifts price targets. Widespread vaccination gives confidence to a full cruise-industry recovery in 2022, Bank of America analysts said.
7. US mortgage rates dipped to their 14th record low of 2020. Near-zero interest rates have pushed borrowing costs to historically low levels and fueled a buying spree in the nation's housing market.
8. On the data docket. US trade balance, non-farm payrolls, and the Baker Hughes US oil rig count are due.
9. Morgan Stanley pinpointed a bunch of companies with massive growth potential. The firm says to buy these 42 stocks poised to keep expanding for years.
10. Why the dominance of e-commerce stocks is just getting started. Pedro Palandrani of Global X says these 4 are best-positioned for gains during the holiday shopping season.