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Here’s what you need to know before markets open.
1. Tech stocks are set to pull away from the pack as investors await big-name earnings and a Fed decision. Strong earnings from Microsoft helped Nasdaq futures.
2. Hedge fund manager Scaramucci says the GameStop saga is ‘more proof’ that bitcoin will work. The GameStop saga has gripped the financial world and that could boost crypto, Scaramucci said.
3. AMC spikes 160% as day traders ignite shorted stocks like GameStop, BlackBerry, and Bed Bath & Beyond. More on the influence of Reddit on financial markets.
4. Beyond Meat spikes 39% after it forms partnership with Pepsi to develop plant-based snacks. The two food companies will form The PLANeT Partnership.
5. Increased retail trading is 'largely responsible' for elevated stock prices and record-high options activity, says Deutsche Bank. The bank said retail investors are having an outsized influence.
6. It's a huge day for earnings. Apple, Facebook and Tesla are all due to release their latest figures.
7. On the data docket. Once earnings are released, all eyes will turn to the Federal Reserve.
8. Morgan Stanley sees the sports-betting industry growing to $10 billion by 2025. The firm says to buy these 9 stocks ahead of the industry's expected legalization in 12 states this year.
9. A ClearBridge fund manager told us that Biden's infrastructure plans could be worth $10 trillion to companies. He lays out 4 stock-market themes investors can play to take advantage of the once-in-a-lifetime conditions.
10. Northwestern Mutual's chief strategist breaks down why tech stocks aren't in a 1999-like bubble. Brent Schutte also sees these 5 sectors primed to outperform in the year ahead.