Gamestop – 10 things before the opening bell
Welcome to 10 Things Before the Opening Bell.
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Let’s get into it.
1. Global stocks are edging up after soft US data calmed fears of a Fed taper. The wait is on for Friday’s monthly jobs report after private-sector hiring slowed, with the weakness seen a reason to keep stimulus measures in place. Check out the latest on the markets.
2. GameStop is more than big enough to enter the S&P 500. The darling meme stock has surged to massive heights, though hurdles remain before it can be listed on the famed index. One obstacle is its lack of profitability – here’s what else could prevent GameStop from making the cut.
3. By turning to real estate, investors can leverage inflation to their advantage, says BlackRock. The firm’s real-assets division recently rolled out a guide to investing in real estate, infrastructure, and equipment. Here are 8 things BlackRock recommends for filling out your portfolio.
4. Earnings on deck: Broadcom, DocuSign, and Hewlett Packard Enterprise, all reporting.
5. One Bank of America indicator that measures investor sentiment is close to triggering a sell signal. The contrarian gauge of Wall Street sentiment is high, indicating that traders are getting overexuberant. The firm says the stock market has historically underperformed following such readings.
6. Zoom tumbled and Cathie Wood bought the dip. As the video-communication company slipped 17% on Tuesday, the famed stock-picker was busy snapping up $US57 ($AU77) million worth of stock. Get the full scoop on her latest bullish move on COVID-friendly companies.
7. Tom Lee from Fundstrat says weak economic data should keep the Fed committed to stimulus efforts – and he sees markets rising. “We expect economic data to soften, but this will be viewed positively as it tilts the Fed dovish,” he said. Here’s why this is a good sign for financial markets.
9. The trader known as the ‘Wolf of All Streets’ is extremely bullish on crypto and altcoins. Scott Melker’s portfolio is 70% bitcoin and ethereum, and the rest is a mix of other digital assets. Find out why he thinks investing in crypto now is the largest upside opportunity of our generation.
10. The creator of Hash Ribbons lays out how bitcoin could reach $US100,000 ($AU135,727). Charles Edwards says increased retail interest can help the currency reach new highs this year. Edwards shared the 4 metrics he uses to make sense of the crypto market.
Compiled by Phil Rosen. Feedback? Email [email protected] or tweet @philrosenn.
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