10 things before the opening bell

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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 and oil have steadied after Joe Biden and China's Xi Jinping talked trade. The two held their first talks in seven months. Here's what the markets are doing.

2. El Salvador's 'ill-conceived' digital coin experiment won't hurt the crypto market long term, JPMorgan says. Despite protests and technological difficulties from the country's adoption of bitcoin, the firm argues it wasn't what caused the recent bitcoin crash. Here's what JPM analysts had to say.

3. About that crypto crash: Tuesday's sudden drop triggered over $3 billion in liquidations in just 24 hours. Four experts broke down the reasons driving this week's digital volatility and shared 12 high-quality altcoins they've got their eyes on. 

4. On the docket: Kroger, Mitsui High-tec, and TOKYU REIT, all reporting. 

5. Cathie Wood has sold $100 million in Tesla stock. The Ark Invest boss has maintained the shares should be trading about 4 times higher than they are now. Read why she's still bullish.

6. Billionaire Dan Loeb has made a 3,700% gain on Upstart. His firm now commands a $3.4 billion stake. Read the latest on Third Point hedge fund's big bet.

7. Industrial stocks will suffer from a 'whittling down' of Biden's infrastructure bill, CFRA says. Investors should minimize exposure to the sector, the firm says. Read about its downgrade on the sector.

8. Bill Gates' investment firm is taking control of the Four Seasons hotel chain. Cascade Investment will pay $2.2 billion to acquire a controlling stake from Saudi Prince Alwaleed bin Talal. The transaction boosts Gates' stake from 47.5% to 71.25% — read the full breakdown of the numbers. 

9. Jefferies revealed its stock picks to take advantage of a historically large spending boom. Consumer prices and corporate spending will continue to climb as the economy heals, and the firm is looking for machinery and industrial companies poised to benefit. See its list of 49 stocks. 

10. A banking veteran and real-estate mogul explained how he landed a mortgage before fully qualifying. Richard Fain used an FHA loan for his first property purchase, which gave him the leverage to continue building his portfolio. Read Fain's tips to buying up income-generating rentals.


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

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