Welcome to 10 Things Before the Opening Bell.
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1. US stock futures are edging higher. Evergrande has kept mum over its dollar bond payments, but sentiment is improving. Take a look at what the markets are doing.
2. China's crypto crackdown is shaking up markets. The People's Bank of China also banned foreign exchanges from providing crypto services to local residents. Here's a complete timeline of Beijing's regulatory sweep.
3. Crypto heavyweights recently gathered in New York to discuss the investing and regulatory landscapes. Messari's three-day Mainnet conference featured Robinhood execs and the likes of Mike Novogratz during a week that was all about regulation in crypto land. Read the big takeaways here.
4. Earnings on deck: Concentrix Corporation, Nine Dragons Paper, and Aurora Cannabis, all reporting.
5. Cathie Wood's Ark Invest bought $55 million in Twitter stock after it announced its bitcoin-tipping feature. The bet reinforces Wood's belief that regulatory issues for digital assets will be manageable. See the numbers behind Cathie Wood's Twitter move.
6. Morgan Stanley's Dennis Lynch said bitcoin is "anti-fragile," and has an ability to regularly bounce back. The asset management head likened bitcoin to the character Kenny from South Park, who dies and returns to life in each episode. See why Lynch sees bitcoin as a "digital gold."
7. The Fed's inflation forecast isn't 'credible,' said Wharton's Jeremy Siegel. The finance professor thinks the central bank risks scaling back its monetary policy too soon, which may shock the stock market. Here's why Siegel believes we're "going to have much more inflation."
8. The SEC charged a former Wall Street quant in an $8.5 million insider trading scheme. Sergei Polevikov allegedly placed nearly 3,000 front-running trades in his wife's brokerage account. See how the SEC used data analysis to uncover the scheme.
9. The CEO of Ether Capital is closely watching what will happen to four altcoins during this alt season. Brian Mosoff says that the various tokens inspired by ethereum's "hard to ignore" success should not be written off. Read their use cases and Mosoff's analysis.
10. Bank of America is spotlighting the highest-quality small- and mid-cap stocks. The firm says since 1990, stocks in these groups have outperformed 100% of the time in the late-cycle phase of an economic expansion. Here are their 34 picks to buy.
Compiled by Phil Rosen. Feedback? Email [email protected] or tweet @philrosenn.
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