Welcome to 10 Things Before the Opening Bell.
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1. Mixed forecasts point to more uncertainty on the market. After several weeks of choppy trading, Wall Street analysts can't seem to come to a consensus about what investors should look for next.
JPMorgan, for one, said the Fed's hawkish stance has already been priced into the market, so now is the time for investors to buy. An upbeat GDP outlook and fourth-quarter earnings point to further gains, according to the bank's analysts.
2. On the other hand, Bank of America's latest note says investors should hold off on buying the dip until after the Federal Reserve's first interest rate hike in March. The S&P 500, according to analysts, struggles immediately following a first Fed hike but tends to do better several months down the line.
Similarly, Morgan Stanley urged investors to maintain a defensive posture, as equities still have further downside. The firm warned traders not to become too "optimistic," as several more weeks of "winter" lie ahead.
Among other reasons, it pointed out that earnings-beats are slowing down and inflation is weakening consumer confidence. Investors should look for "areas that have already corrected or areas where there's probably pent-up demand," said Morgan Stanley analysts.
3. US futures are climbing this morning. Investors are weighing up robust corporate earnings against the threat of inflation. Take a look at what's happening on the markets.
4. Billionaire Bill Ackman owns just seven stocks. He previously made $2.6 billion betting that the coronavirus would cause a market crash in 2020. Here's the rationale behind each of his stock purchases.
5. Bank of America now expects seven rate hikes this year. Cyclical sectors like information technology and energy tend to fare well during Fed hiking cycles, said the bank. Here's what its chief stock strategist said to buy in preparation.
6. Rumble SPAC soared 43% after it offered Joe Rogan $100 million to ditch Spotify. "How about you bring all your shows to Rumble, both old and new, with no censorship, for 100 million bucks over four years?" Rumble asked Rogan. The YouTube competitor looks to make a splash as Rogan has come under fire in recent weeks.
7. It would make sense for Apple to acquire Peloton, according to Wedbush. A takeover would represent a "major strategic coup and catalyze [Apple's] aggressive health and fitness initiatives," said the firm. Wedbush broke down the impact of such a move for both companies.
8. BlackRock said 2022 will be a "gamechanger" for the metaverse. Facebook parent Meta is plowing huge funding into the space, and Microsoft's acquisition of Activision marks another significant play. BlackRock expects Big Tech to continue to pour into the nascent sector.
9. A crypto CEO who called January's selloff said investors shouldn't panic about a crypto winter. Ether Capital's Brian Mosoff, a longtime crypto bull, shared how low he expects tokens to dip — and when they'll rebound to all-time highs.
10. Three real estate investors and early retirees agree on the best personal finance book to read if you want to change your mindset around investing. They agreed that "Rich Dad Poor Dad" allowed them to master their money and learn a new way to think. The three told us the book's greatest lessons.
Compiled by Phil Rosen. Feedback? Email [email protected] or tweet @philrosenn.
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