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Here’s what you need to know before markets open.
1. Robinhood warns day traders to raise their cash buffers on ‘widely-held stocks’. Traders were told to do this hours before the market open, or they could face an account deficit.
2. These 3 sentiment indicators are giving off a bullish signal for the consumer and stock market. DataTrek said data on Google trends on searches for “dow jones”, along with the level of cash investors are holding and mutual fund and ETF fund flow stats are all flashing green.
3. The stock market is sending mixed signals on who will win the presidential election. A rising S&P 500 in the three months preceding the election shows investors favor Donald Trump to win re-election, while a surge in a basket of stocks including green energy names indicates bets on a Joe Biden wins, LPL said.
4. Goldman Sachs says the market is due a short, sharp exit from growth stocks. Since the great financial crisis in 2008, there have been 15 rotations into cyclicals and out of defensive stocks, Goldman Sachs said.
5. Global stocks are trading higher. European stocks and US futures are edging higher, as investor hopes for a quick fix on the stalemate over more economic stimulus outweigh a steep rise in cases of Covid-19 for now.
6. Earnings coming in. Honeywell Q3 20 and State Street Corp Q3 20 earnings are coming in.
7. On the economic front. The US Michigan Consumer Sentiment Index and US Business Inventories are due.
8. Goldman Sachs says buy these 21 high-growth stocks. The stocks have huge upside potential as future index leaders, the bank said.
9. Growth is the new value investing, says Jim Osman. The founder of The Edge Group said he likes companies that focus on technology and change.
10. The investment chief at a $750 million firm says investors should not mix politics with their portfolios. Nancy Tengler is advising her clients to remain long stocks while trying to hedge against inevitable drawdowns with options.