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10 things you need to know before the opening bell

Joe Ciolli   

10 things you need to know before the opening bell
Stock Market2 min read

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Reuters / Andrew Innerarity

Here is what you need to know.

Bitcoin is leading a cryptocurrency bloodbath. Declining Japanese and South Korean trading volumes are being blamed for spooking the market and spurring declines in the 10 biggest cryptocurrencies on Tuesday morning.

Morgan Stanley identifies the 6 internet stocks to bet on in 2018. The recommendations come after the tech sector destroyed the rest of the market in 2017, surging 37% as nearly ever company's stock rose.

China is heading toward a debt crisis that will throw into question everything we think we know about its economy. The country's economic stability is founded on a mountain of debt that Council on Foreign Relations experts warn will end in a crisis.

A dangerous trade that reminds experts of the 1987 market crash is riskier than ever. It's the short-volatility trade, and the net position of investment products that track the VIX has slipped into short territory for just the second time in history.

A key metric shows the stock market is at 'extreme' levels that are the most stretched in 20 years. While the so-called "relative strenght index" being overextended doesn't necessarily spell immediate doom for stocks, it should give investors caution as they consider adding to positions going forward.

The $14 trillion bond market has caught Wall Street off guard. Investors were led to believe that Japan, China and the Eurozone could slow their bond purchases, something that experts say hasn't been priced into the market.

Boris Johnson says his £350 million a week Brexit claim was an 'underestimate'. The foreign secretary told The Guarian that the figure splashed across the side of the Leave campaign's battle bus in the run-up to the 2016 Brexit referendum should have been bigger than £350 million.

Stock markets around the world strengthened. China's Shanghai Composite (+0.77%) climbed, while Germany's DAX (+0.91%) did as well. The S&P 500 is set to open up 0.39% near 2,800.

Earnings reports continue to be released. Citigroup, Bank of Ozarks, Comerica and UnitedHealth are scheduled to release earnings before the market open, while CSX and Interactive Brokers will release results after the close.

US economic data is light. Empire manufacturing will be released at 8:30 a.m. ET. The US 10-year yield is up 2 basis points at 2.55%.

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