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 shares trade around record highs as investors await US jobs data; oil hits 2-year highs. US futures were mixed as investors count down to Friday's key nonfarm payrolls report.
2. Elon Musk's 'Baby Shark' tweet sends shares in the iconic song's investor up 10%. Musk demonstrated the power of his Twitter profile over the markets once again.
3. An EV company is planning a crypto-mining car that will dig for bitcoin and dogecoin while parked. Canadian light electric vehicle company Daymak plans to launch a three-wheeler that can earn its owner crypto.
4. AMC is worth just $1 per share, as its current price doesn't reflect fundamental value, stock market analyst says. The cinema chain's stock is being driven up by day traders, but one analyst isn't impressed.
5. Billionaire Chamath Palihapitiya once blasted a prospective Virgin Galactic investor for questioning his track record. The SPAC king called the older man a 'complete f---ing idiot', a report said.
6. Mudrick Capital calls AMC overvalued and offloads its entire stake at a profit the same day its $230.5 million share purchase is disclosed, a report says. Mudrick disposed of the stake after concluding AMC's stock is overvalued.
7. Earnings expected. There is little on the calendar, but Google parent Alphabet holds its annual general meeting.
8. On the economics calendar. European Central Bank President Christine Lagarde will speak, and the Fed's beige book economic report is due.
9. UBS thinks the S&P 500 will rise 10% from current levels over the next 18 months. The firm says these 11 overlooked stocks are among its top picks - and unearths the specific catalyst that could send each one 25% higher.
10. Financial researcher Nik Bhatia explains why asset managers with a growth focus could be violating their fiduciary duty if they don't consider bitcoin. He also compares bitcoin to Amazon's stock 20 years ago.
- India's GDP growth surges to 8.4% in Q3, 2023-24 growth rate pegged at robust 7.6%
- Fiscal deficit at Jan-end touches 63.6% of full year target: Govt data
- Cabinet approves 3 semiconductor fab units, to generate 80,000 jobs
- RIL shares climb nearly 1% after announcing mega merger
- Key infra sectors' growth slows to 15-month low of 3.6% in January