10 things you need to know before the opening bell
Here's what you need to know before
1. The Bank of England announced £100 billion ($125 billion) in new monetary stimulus as the UK fights the coronavirus. The central bank said it voted unanimously to maintain its bank rate at 0.1% at its monetary policy meeting held on Wednesday.
2. Legendary investor Jeremy Grantham says the stock market right now is in the 4th 'Real McCoy' bubble of his career. Grantham said the strong rebound in US stocks may be the fourth and most "crazy" major market bubble in his long career.
3. Wall Street giants including the CEOs of Goldman and Blackstone are pouring money into the campaign to defeat AOC in a June primary. Executives at Blackstone and Goldman Sachs are some of the big players that have donated to challenger Michelle Caruso-Cabrera's campaign.
4. 'Don't confuse day traders with serious investors': Warren Buffett and Howard Marks will win over time, Princeton economist says. "Legions of new day traders have poured new money into stocks without a care for the risks involved."
5. Scooter giant Lime didn't disclose a braking issue that resulted in people breaking bones and damaging their teeth. The safety flaw resulted in scooters stopping suddenly, causing injuries.
6. U.S. Chamber urges China to accelerate purchases of U.S. goods. The Chamber said the pandemic had clearly slowed progress for both governments, but there were reasons to be hopeful.
7.Wirecard's shares tumble 65% after the payments processor says it is unable to trace $2 billion worth of cash.Wirecard, which was listed on Germany's benchmark index DAX two years ago, said there were indications that a third-party had tried to "deceive" the auditor
8. Stocks are mostly flat. In Europe, Germany's DAX fell 0.4%, Britain's FTSE 100 fell 0.1%, and the Euro Stoxx 50 fell 0.2%. In Asia, China's Shanghai Composite rose 0.2%, Hong Kong's Hang Seng fell 0.1%, and Japan's Nikkei fell 0.4% at the close. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the Nasdaq rose about 0.1%.
9. Earnings releases today. National Grid and Kroger are highlights.
10. On the economic front. Continuing jobless claims, Philadelphia Fed Manufacturing Survey, and the 4-Week Bill Auction are due for release.
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