Welcome to 10 things before the opening bell.
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Global equities are in the red after US equities had their worst monthly decline since March 2020. Inflation, rising bond yields and the smoldering Evergrande crisis are shaking markets. Take a look at what’s happening today.
2. JPMorgan is looking upwards in the Dollar Tree as the company raises prices above $ 1. The discount retailer announced that it would raise prices above its same name by $ 1, citing inflation and other reasons. Analysts see the move as positive in the long run – here are four reasons why.
3. Is the Chinese real estate market stalling? Goldman Sachs says look at these four measurements. The company recommends monitoring land investment sentiment and refinancing trends. See Goldman’s full list of indicators.
4. On the dock: Daiseki Co., JD Wetherspoon and Cal-Maine Foods, all reporting.
5. Global IPO activity broke a 20-year record in Q3. Companies rushed to raise capital before the Fed could downsize asset purchases, with a total of 547 listings and $ 106.3 billion raised in Q3. An important driver spurred the IPO boom.
6. #CitadelScandal Trends on Twitter. Retailers expressed renewed outrage over Robinhood’s restrictions on trading in meme shares when a new lawsuit filed that Citadel Securities and Robinhood were in contact prior to the infamous trading halt. Here’s what you need to know.
7. ‘Big Short’ investor Michael Burry said the Fed lost all credibility after its trade scandal. In addition to evidence that Fed officials traded Tesla for millions of dollars, he cited the central bank’s mismanagement of the global financial crisis and its 2019 interest rate cuts. Plus, the legendary investor deleted his Twitter (again).
8. Bed, Bath & Beyond shares fell. Sales in the second quarter lacked expectations and the retailer reduced its annual outlook as COVID-19 concerns hit in-store traffic. This marks the latest sign of the Delta variant’s impact on retailers.
9. Rising oil prices and energy shortages reveal challenges in turning green. Switching to climate-conscious sources is an obstacle, although supply-side disruptions have led to a major oil meeting. UBS shared how to invest in the energy sector to take advantage of the trend.
10. A 30-year investment veteran breaks down a SPAC strategy that you can use for stable, tax-friendly returns. David Sherman launched one
strategy aimed at providing low-risk returns similar to those produced by a fixed-income strategy. Here’s why he’s betting on the worn out asset class now.
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Prepared by Phil Rosen. Feedback? Email email@example.com or tweet @philrosenn.
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