Welcome to 10 Things Before the Opening Bell.
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Let's get into it.
1. Global equities are looking at bit steadier after the Dow's biggest one-day fall this year. As virus variants continue to threaten the global economic recovery, investors are getting nervous. See the rest of the numbers here.
2. Oil hit a seven-month low. Prices suffered as OPEC+ agreed to increase oil supply in August while the surge in new COVID variant cases renews worries about oil demand. Energy stocks have tumbled in lockstep with oil prices, leaving equity investors worried as well.
3. Missed the meme-stock short squeeze? Fintel identified five heavily shorted stocks primed for a squeeze this week. The list includes Marin Software and Exela Technologies - see the other three here.
4. Earnings on deck: Netflix, Snap, Chipotle, and United Airlines Holdings all reporting today.
5. Cathie Wood's bubble may be set to burst - at least that's what one JPMorgan strategist thinks. The analyst thinks Wood's flagship ETF is showing dot-com bubble-like traits. He says investors may be baited into Wood's 'bull trap' if they aren't careful.
6. Don't panic - the recent stock sell-off is a 'healthy pullback' according to one analyst. The S&P 500 is down 3% from its record high, but an expert claims the dip will be short-lived. Read the rest of the technical analyst's predictions.
7. Robinhood looks to make a splash in its stock market debut. The investing app company plans to raise up to $2.3 billion in its upcoming IPO. Number of shares, stock price range, and more - get the full details.
8. The COVID-19 recession sucked, but it was the shortest downturn in US history. The National Bureau of Economic Research wrote that the recession lasted from February to April last year. Despite this record-short recession, economic activity remains slow to fully bounce back.
9. Tracking meme stocks can pay off big. One expert who built a website designed to track meme stocks shared how to track Reddit momentum and find frauds. Plus, he told us the nine meme stocks with the most loyal fanbases.
10. The world's largest crypto asset manager is launching a decentralized index fund. The CEO of Grayscale told Insider why his firm is prioritizing DeFi, and shared exactly why this type of investing is on the rise.
Compiled by Phil Rosen. Any feedback? Email [email protected] or tweet @philrosenn.
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