10 THINGS BEFORE THE OPENING BELL

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Welcome to 10 Things Before the Opening Bell.

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1. Global stocks are a sea of red after the Fed showed it's willing to taper. Oil is sliding for the sixth straight day as rising Delta variant cases cast a cloud on demand outlook. Check out the latest moves on the markets.

2. The US froze nearly $9.5 billion of Afghanistan's reserves after the Taliban seized power. The insurgent group now faces a cash crunch and currency pressures. Here's what the freeze could mean for their remaining assets.

3. Experts say Chris Camillo made $42 million trading equities — but he isn't into meme stocks. Camillo uses a technique he named social arbitrage, where he identifies investment opportunities by scraping social media platforms for early trends. See how he finds out information before Wall Street.

4. On the docket: CITIC Securities, Kohl's, and Macy's, all reporting.

5. 'Big Short' investor is betting on Cathie Wood's downfall. Michael Burry revealed a bet against Wood's flagship Ark ETF this week, and predicts the next market crash will leave her on the outs. Here's what Burry himself bought and sold in Q2.

6. Record highs in the market pushed the world's largest sovereign wealth fund to a massive half-year. Norway's Norges Bank Investment Management has generated a 9.4% return in 2021 so far — translating to $111 billion. These are the fund's largest holdings.

7. The SEC charged three former Netflix employees for insider trading that totaled more than $3 million. A former Netflix employee reportedly tipped non-public information about Netflix's subscriber growth to his friends. More on the alleged insider trading ring here.

8. Investment legend doubled down on his crypto conviction and bought shares of Coinbase. The crypto exchange company has been down nearly 24% since going public. Bill Miller has been bullish on digital currencies for years, reportedly buying bitcoin when it was $500 — this helped propel him into billionaire status.

9. A money manager is betting on a handful of upstart stocks to become the next FAANGs. The tech-focused chairman of a $4.9 billion firm thinks FAANG stocks have seen their day, making way for smaller tech firms like MercadoLibre — get his four stock picks.

10. Bitcoin's headed to six-figures, says famed investment strategist. Bitcoin and ether have huge upside, says digital currency bull Lyn Alden. She sees altcoins as mostly "smoke and mirror" — except for these two that could surge.

Compiled by Phil Rosen. Feedback? Email prosen@insider.com or tweet @philrosenn.

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