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Here’s what you need to know before markets open.
1. Global stocks drop as WHO says worldwide COVID-19 infections rose for the first time in 7 weeks. The dip in stocks followed a surge in equities on both sides of the Atlantic on Monday.
2. US and European markets could be in dangerous bubbles, China’s banking regulator warns. Guo Shuqing said stocks in the US and Europe had “seriously diverged” from their economies.
3. Zoom jumps 9% after the video platform beat earnings estimates and forecasted strong growth. The company’s revenue forecast for the coming year was above Wall Street expectations.
4. Goldman Sachs restarts cryptocurrency trading and will begin dealing bitcoin futures for clients next week, report says. The desk is part of the bank’s efforts to keep up with the rapidly evolving digital assets sector.
5. Jamie Dimon says ‘gangbuster’ growth is in store for the US, but too much fiscal stimulus is a risk. The JPMorgan boss questioned whether rapid growth and more stimulus could lead to overheating.
6. Earnings expected. Target and Hewlett Packard Enterprise are among the big names reporting.
7. On the economics calendar. A quieter day for the US, with the Fed’s Lael Brainard speaking.
8. Goldman Sachs is on the hunt for companies built to thrive as economic acceleration continues to lift interest rates. The firm says buy these 30 stocks, even if inflation flares up.
9. We got an inside look at Baillie Gifford’s $6 billion sustainability fund. These are the 4 ESG strategies its managers use to smash their benchmark, and 10 stocks they say are top performers.
10. RBC’s US equities chief shares 3 sector recommendations to profit from higher yields. Lori Calvasina also gives 3 reasons why stocks are still primed for gains despite the scare from the bond market.
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