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Here’s what you need to know before markets open.
1. Twitter stock soars after the company reports adding 20 million users in 3 months. Investors cheered as the social-media group grew its daily active users by 34% year-on-year to 186 million.
2. Tesla stock surges after it scores 4th straight quarterly profit, paving the way to the S&P 500. Elon Musk’s electric-car company reported $104 million in net income, compared to a $408 million loss a year ago.
3. Warren Buffett just plowed $800 million into Bank of America, boosting his stake to over 11%. The billionaire investor and Berkshire Hathaway CEO snapped up almost 34 million shares in three days.
4. Former Wirecard CEO Markus Braun was arrested for a 2nd time in relation to the company’s $2 billion accounting scandal. Two other executives — Wirecard’s former finance boss, Burkhard Ley, and Stephan von Erffa, ex-head of accounting — were also arrested.
5. A high-growth fund manager returning 7 times more than his peers tells us how he’s shifting from post-pandemic tech themes into ‘real companies.’ He also shares 6 stock picks set to win the market’s next phase
6. Warren Buffett isn’t warning about sky-high stocks because he ‘doesn’t want to make people mad,’ veteran investor Bill Smead says. “He won’t say anything because he’s 89-years-old and doesn’t want anyone to be angry when he dies,” the Smead Capital Management boss said.
7. A Wall Street expert details the hurdles that must be cleared before a bitcoin ETF is approved — and explains why other investing substitutes for the crypto fall short. Prospective issuers of a Bitcoin ETF face several hurdles. Here’s what they need to overcome — and when they might do it.
8. Global stocks are mostly up, but seeing only small gains. In Europe, Germany’s DAX rose 0.5%, Britain’s FTSE 100 rose 0.6%, and the Euro Stoxx 50 rose 0.5%. In Asia, China’s Shanghai Composite fell 0.2%, Hong Kong’s Hang Seng rose 0.8%, and Japan’s Nikkei fell 0.6% at the close. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the Nasdaq rose between 0.3% and 0.6%.
9. Earnings expected today. Intel, Unilever, AT&T, Blackstone, Daimler, and Hershey are highlights.
10.On the economic front. Initial jobless claims and the 4-week-bill-auction are due for release.
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