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. US stock futures are up after five straight days of losses. Investors are buying the dip ahead of inflation data this week. See what's going on so far today.

2. Cathie Wood recently sold more than $100 million of Tesla stock. Ark Invest took some profits, but still has a $3,000 price target on the stock — approximately 300% higher than its current price. Read why Wood remains bullish on Tesla.

3. A veteran portfolio manager and analyst spoke to us about meme stocks. Mary Ellen McGonagle of Simpler Trading has a handful of stocks on her radar that have recently popped, and have more upside. Read about her 4 picks here.

4. Earnings on deck: Oracle Corp, ITM Power, and Helvetia Holding, all reporting. 

5. Central banks should jump-start their own digital currencies before crypto overtakes them, the BIS says. The head of the BIS Innovation Hub warned that stablecoins and cryptocurrencies are already a reality, so banks can't waste time in developing their own versions. See his full comments on digital currencies here.

6. A CEO is reaching out to Redditors ahead of his company's public debut via SPAC. Benson Hill's Matt Crisp announced the company will field questions from the online forum to get input from retail investors. "We want our food system to be driven by consumers for consumers," Crisp said. Read his full statement here.

7. Harvard University's $42 billion endowment won't be investing in fossil fuels anymore. Climate change activists declared victory after years of asking the school to divest from certain assets. According to the university, those investments are now "in runoff mode."

8. Apple dipped, Netflix and Spotify popped after judge rules in favor of Epic Games in lawsuit. Shares of the iPhone maker dropped late last week after a ruling in the bitter legal battle stated Apple must follow new in-app purchase parameters. Here's how companies that rely on the app store got a boost following the ruling. 

9. We spoke to a crypto investor who runs a fund that's returned 1,240% since June 2019. Matthew Dibb of Astronaut Capital told us how he executes three main trading strategies in his funds. He also outlined emerging trends on his radar.

10. A stock trader who says he made more than $100,000 shorting the market during the 2008 crash just bet against the S&P 500. Glen Goodman warns there's a "fair chance" stocks are about to sell off hard. Read all of his bearish comments here.


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

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