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10 things you need to know before the opening bell

General view of atmosphere during the NYSE opening bell ceremony at the New York Stock Exchange on December 15
General view of atmosphere during the NYSE opening bell ceremony at the New York Stock Exchange on December 15

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1. Unexpectedly, UK unemployment is down to 5%. As the country is reopening, the number of people on payrolls has increased for the third straight month.

2. Anthony Scaramucci's SkyBridge Capital files for bitcoin ETF. The hedge fund manager's firm is the latest apply to create a bitcoin-backed exchange-traded fund.

3. Stocks dropping globally. Surging Covid-19 cases in Europe and by new lockdown restrictions along with the anticipation of Jerome Powell and Janet Yellen's testimony later are impacting markets.

4. First ever tweet by Twitter CEO sold as an NFT. As NFTs soar in popularity, Jack Dorsey's tweet saying "just setting up my twttr" sold for $2.9 million.

5. Deutsche Bank says weekly inflows into stocks at $68 billion last week, the highest since 2003. Investors are optimistic for continued growth, with tech, financials and energy proving especially popular.

6. More earnings expected. GameStop is releasing its Q4 2020 results, Adobe is sharing its Q1 2021 numbers.

7. Key events in the economic calendar. UK unemployment in Europe and testimony by Fed Chairman Jerome Powell is due.

8. Hedge funds are ramping up bets against Chamath Palihapitiya's SPACs and have already taken home $40 million this year. Here's a detailed look at the wagers they're making.

9. Cowen is scouring the market for retailers that will be the big winners as consumer spending accelerates. The firm says buy these 10 retail stocks before a colossal wave of activity.

10. A chief market strategist shares 4 must-see charts that forecast the next big moves in stocks, bonds, and gold. Dave Keller also offers 6 trades set to surge on what happens next.

Read the original article on Business Insider


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