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Here’s what you need to know before markets open.
1. Global stocks rise as Fed Chair Jerome Powell confirms interest rates will remain low for longer. Equities stabilized after the Fed boss struck a dovish tone in both of his Congressional testimonies this week, but US futures slipped in early trading.
2. Tesla shares are being driven more by Reddit posts rather than its fundamentals or valuation, Barclays study finds. The automaker has seen outsized attention from retail investors with active discussions on social media.
3. The estimated number of global crypto users has passed 100 million – and boomers are now getting drawn to bitcoin too, reports find. The bitcoin boom has attracted millions of investors from all age ranges, according to 2 reports.
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4. GameStop spikes 104% in late-day surge as buying frenzy resumes. Wednesday’s wild final 30 minutes were reminiscent of the Reddit-driven buying spree seen in January.
5. Warren Buffett’s right-hand man blasted Robinhood, slammed SPACs and dismissed bitcoin at the Daily Journal annual meeting. Here are the highlights.
6. Earnings expected. HP, Airbnb, and Salesforce are on Thursday’s calendar.
7. On the data docket. Markets will be focused on US jobless claims.
8. Renowned strategist Tom Lee thinks the economic reopening and vaccine rollout will trigger a ‘vigorous’ rally. He says buy these 21 stocks now with those drivers still in full effect.
9. The manager of a new fund that’s quickly broken into Wall Street’s top 1% told us about the global strategy that’s helping him return 5 times his peers. Hervé van Caloen also named 5 stocks that he’s betting on for the long term.
10. Chris Armbruster co-manages a growth fund that’s outperformed 96% of its peers over the last 5 years. He details 2 disruptive software stock picks with ‘mission critical’ importance to their clients.
