Welcome to 10 Things Before the Opening Bell.
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1. US futures have pulled back after yesterday's record highs on the benchmark indices. With consumer inflation data looming large, investors are staying cautious for now, pushing the dollar and bond yields up. Get the full picture of what's happening on the markets today.
2. Softbank is cutting investments in Chinese startups over regulation uncertainty. The founder said the company will take a "wait and see" approach on China's new measures that have hit Chinese tech companies. While the firm has slowed investment in China since April, its founder says he remains bullish on China's long-term growth prospects.
3. A 28-year-old with a $51,000 salary shared how he built a real estate portfolio. John O'Reilly, a motor-equipment operator, now owns five income-generating properties. He began investing in real estate at 23, and keeps an eye out for multi-family properties. Read his approach for finding promising real estate, including one website in particular he recommends.
4. On the docket: eBay, Commonwealth Bank Australia, and Coupang all reporting.
5. If COVID cases drop, the whole market may rally, according to Fundstrat's Tom Lee. Lee claimed an "everything rally" could bolster the market this coming fall if the Delta surge subsides. Something else he's predicting: Bitcoin may surge to $100,000 by year-end.
6. Your favorite Reddit stock is turning to crypto - soon you'll be able to buy your AMC movie tickets with bitcoin. AMC is planning to accept bitcoin by the end of the year, according to CEO Adam Aron. As part of the movie chain's reinvention, they are also exploring a potential partnership with fellow meme-stock darling GameStop.
7. Bank of America isn't buying Moderna's epic year-to-date rally. The biotech company's 364% rally is "unjustifiable on a fundamental basis," BofA said in a note. The bank put forth its $115 price target for Moderna, representing a potential downside of over 70%.
8. Cathie Wood doubled a multi-million-share position in a SPAC poised for a merger. After buying 7 million additional shares on Monday, Wood's Ark Invest is growing its position in a SPAC that plans to merge with Ginkgo Bioworks. Get the full details on Ark Invest's latest big move.
9. Two top economists analyzed 20 years of stock market bubbles using options data. Their strategy identifies bubbles and would have beaten traditional, more popular approaches. These economists shared how to leverage bubbles to your advantage - learn their "bubble riding" strategy.
10. Warren Buffett is being priced out of buying stocks and businesses. Experts say that the legendary investor, who commands a roughly $300 billion stock portfolio, has struggled to find bargains in recent years. But the Berkshire chief has been able to capitalize on the housing boom - see why Buffett's doubling down on housing.
Compiled by Phil Rosen. Feedback? Email [email protected] or tweet @philrosenn.
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