10 things before the opening bell

Entrance into an office building on Wall Street
Shannon Stapleton/Reuters

Welcome to 10 Things Before the Opening Bell.
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1. Stocks dipped as Fed Chair Powell made more remarks on hot inflation. Prices pulled back further from their record highs earlier in the week. But the good news is that weekly jobless claims fell to a pandemic-era low.
2. Don’t blink or you might miss this: A tiny camera company’s stock price spiked by 3000% in two days. Find out why here. (Hint: there’s crypto involved.)
3. The chief executive of a $3.5 billion hedge fund is betting big – correction: huge – on bitcoin. His firm is up 48,500% in eight years in large part because of their early entry into bitcoin. The executive gave his 16 picks for massive returns.
4. Earnings today: Charles Schwab, Reliance Industries, and Atlas Copco all reporting.
5. Meme investors be warned: Netflix is entering the video game space. Gamestop shares fell following a report that the movie subscription giant is eyeing a new foray into video game streaming. Retail investors across Reddit are buckling down amid the meme-stock tumble.
6. Self-driving cars may seem futuristic, but just wait ’til they start flying, too. Morgan Stanley thinks a flying car business could be worth as much as $1,000 per share for Tesla. Sorry birds and planes, but skybound Teslas are a matter of when, not if.
7. What starts with an ‘i’ and is on the lips of CEOs? Inflation. It’s on the rise in conversation and the economy. Higher prices could persist longer than people may like. Here’s what’s worrying three CEOs about the i-word.
8. Cathie Wood doubles down on her defense of bitcoin. The star stock-picker insists that environmental concerns around bitcoin are temporary – here’s what she thinks is going to happen next with the digital currency.
9. Short squeezes have sent meme stocks to the moon all year. But buying Gamestop, AMC, and other stocks from WallStreetBets can present huge risks if you’re not careful. These Gamestop analysts share how to anticipate short squeezes and avoid investing pitfalls.
10. The pandemic tech boom is a real thing. Companies this year have shifted toward digitizing everything, and have come to rely more on cloud computing than ever before. Morgan Stanley says take advantage: Buy these 5 tech stocks to benefit from the digital revolution.
Compiled by Phil Rosen. Any feedback? Email prosen@insider.com or tweet @philrosenn.
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Read the original article on Business Insider

Source: https://www.businessinsider.com/10-things-before-the-opening-bell-july-16-2021-7

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