Welcome to 10 Things Before the Opening Bell.
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1. Global stocks are on the slide after a key Evergrande deal falls through. Revived fears of a default by the Chinese property giant have taken the wind out of earnings-fueled high spirits, with stocks and bitcoin losing ground. See the latest moves on the market.
2. Bitcoin hit a record high on Wednesday after a landmark ETF debut. The red-hot cryptocurrency flirted with the $67,000 level, climbing as much as 4%. Read why one technical strategist sees bitcoin testing $90,000 next.
3. A shipping ETF has generated 13% returns in its first two months of trading. We spoke to the founder of the SonicShare Global Shipping ETF. He gave us 2 ways to capitalize on the ongoing supply chain chaos.
4. On the docket: Intel, AT&T, and Blackstone, all reporting.
5. Pinterest soared 19% on reports Paypal is exploring an acquisition. The potential price of $70 a share would value the company at $45 billion in total. Read the full details here.
6. The debut of the first bitcoin futures ETF drew huge demand - but not from retail investors. Vanda Research found that retail traders participated far less than institutional buyers in the first day of trading for the ProShares Bitcoin Strategy ETF. Read their full explanation why.
7. Warren Buffett's Berkshire Hathaway has notched a $9 billion gain on American Express this year. Overall, the firm has racked up a total unrealized gain of $26 billion on the stock. Berkshire owns 19% of AmEx, making it the third-largest holding in their US stock portfolio.
8. The S&P 500 has 7% upside into year-end, said Fundstrat. The Tom Lee-led firm raised its price target for a third time this year, to 4,800. See why the firm boosted its forecast again.
9. DWS' Small Cap Core Fund has quintupled its investors' money over the past 20 years. We spoke to a co-manager about what he looks for in a stock before buying. He shared his four ways to nail small-cap stock picks.
10. UBS remains skeptical about crypto even after ProShares' bitcoin ETF launch. The world's largest wealth manager is still wary of how speculative digital assets are. The firm laid out 4 alternative sectors that investors could target instead.
Compiled by Phil Rosen. Feedback? Email [email protected] or tweet @philrosenn.
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