Big Tech recovers after a rough day Wednesday on Wall Street.
Matteo Colombo/Getty Images
Good morning and welcome to 10 Things Before the Opening Bell.
If this was forwarded to you, sign up here.
Invitation: Join us July 15 for a live conversation with Insider’s investing reporters and crypto experts from Ark Invest, Fundstrat, and Castle Island Ventures. Register here.
Let’s get into it.
1. US stock indexes closed at record highs on Monday ahead of major corporate earnings releases. But analysts at Bank of America say don’t count on a hefty earnings season to keep things elevated. Read what the pros think ahead of the earnings reports.
2. Another one bites the dust: TikTok’s owner Bytedance nixed an offshore IPO after talks with Chinese officials. Following other major cybersecurity reviews in China, Beijing authorities told the $180 billion company to look into data-security risks, per the WSJ. Get the full rundown here.
3. Building a 35-unit property portfolio isn’t easy, but this firefighter did it while working full-time. He turned to real estate initially as a safety net, but 300 deals later and his income has skyrocketed – and he shared exactly how he did it.
4. Earnings from PepsiCo, Goldman Sachs, and JPMorgan all expected today. See the full calendar here.
5. What to expect from today’s Consumer Price Index report: The inflation gauge is expected to have risen 0.5% in June, down from May, which suggests recent price gains aren’t permanent, per analysis from FXStreet. Here’s what else the data could show.
6. In 2021, having a kid can pay real dividends. With the revamped child tax credit, parents can get a $300 check this week from the government. Find out if you’re eligible.
7. Analysts at Morgan Stanley warn of a transitional period in the markets. They say stocks are already in a “rolling correction,” and expect it to continue through year-end. See why these analysts think differently than other banks’ projections.
8. Orioles’ slugger is swinging for the fences on and off the field. After surviving the disease, Trey Mancini is releasing NFTs to raise money for a cancer charity. He’s among a slew of celebrities and athletes to hop on the NFT wave.
9. “Trillion-dollar man” Dan Peña is betting on a stock market crash – and it’s coming a lot sooner than you may think. Margin debt is at an all-time high, interest rates are at an all-time low, and the market’s overvalued. Peña shared exactly how to avoid getting caught in a crash.
10. Yes, even after the Gamestop fiasco, shorting stocks is still a thing. Data provider Fintel said Exela Technologies and Newegg, among others, are ripe for a short squeeze – and both have recently been labeled as meme stocks. Read the rest of their list of heavily shorted stocks, and find out which one has risen over 70% within the last week.
Compiled by Phil Rosen. Any feedback? Email email@example.com or tweet …read more
Source:: Business Insider