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Welcome to 10 Things Before the Opening Bell.
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1. US stock futures are edging higher as some confidence returns over the economy. The debt problems at a major China property developer are rattling Asian markets, while M&A in Europe is boosting regional indices. Take a look at what's happening today here.
2. Lucid is the next Tesla, Bank of America says. An analyst said the upstart EV company could become the next Tesla or Ferrari, calling it "one of the most legitimate start-up EV automakers." Read up on the super premium electric-car company.
3. Steven Russell's bets doubled investors' money within a year. Emerald Banking and Finance Fund logged returns of 101% over the last year, though the fund has faced criticism for speculative crypto trading. These are Russell's three favorite stocks in the crypto sector.
4. On the docket: Ashtead, The Hut Group, and ChemoMetec, all reporting.
5. Ray Dalio had some harsh words for crypto regulators. The hedge-fund billionaire said on Wednesday that oversight agencies will "kill" bitcoin if it gets too popular. Read his full comments here.
6. Coinbase increased its junk-debt offering to $2 billion after a surge of investor demand. The company saw at least $7 billion in bids, per Bloomberg, leading it to increase its proposed offering by $500 million. Read the full details on the offering.
7. Casino stocks slid sharply as China launched a review of the gambling industry. Wynn Resorts and Las Vegas Sands dropped for a second consecutive day as Macau announced a potential overhaul of licensing, supervision, and rules in the gambling sector. Here's a closer look at the market's response.
8. Elizabeth Warren wants to break up Wells Fargo. Warren Buffett's already sold the stock. Buffett's Berkshire Hathaway may be in the clear, as it sold over 99% of its shares already. Here's what the senator had to say about the bank.
9. Invest in under-the-radar altcoins ahead of the next crypto rally, says chief technical analyst. Token Metrics' William Noble believes altcoins are the future of currencies, and he shared three lesser-known picks with promising upside. Get his full list, plus read why Noble is bullish on crypto.
10. Meet the 43-year-old German billionaire reinventing the psychedelics sector - and putting big money in crypto. After dropping out of university, Christian Angermayer helped found the biotech company that eventually became Alnylam Pharmaceuticals. He shared why his sights are locked into psychedelics for medical use, and how this led him to invest in crypto.
Compiled by Phil Rosen. Feedback? Email [email protected] or tweet @philrosenn.
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