10 things before the opening bell
Welcome to 10 Things Before the Opening Bell.
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1. The S&P 500 closed at another record high as jobless claims fell for the third week in a row. The latest jobs report shows Americans are getting back to work and the labor market is bouncing back from the pandemic. See the latest numbers moving on the market.
2. Stay bullish on stocks, says JPMorgan chief global markets strategist. Strong earnings, among other indicators, should quiet concerns over the spread of the Delta variant. In addition to cautious market positioning among investors, see the chief strategists' four reasons to keep buying into the market.
3. Kumar Sadaram has bought more than 50 homes in less than a decade. He got into real estate to quit his 9-5 and achieve financial independence. The "buy, rehab, rent, refinance, repeat" strategy worked for Sadaram - read the rest of his tips and tricks to becoming a real estate mogul.
4. On the docket: China Merchants Bank, Samsung Life Insurance, and JX Holdings, all reporting.
5. Famed short-seller Carson Block says he'll never bet against Tesla. In a letter to investors, Block said he's come to the realization that "a certain amount of bullsh*t is necessary." Read his full comments.
6. Large-cap fund managers are cutting ties with Chinese stocks - but China is still calling for tighter regulations. China's tech crackdown will likely persist, as new laws are set to enter sectors such as national security, monopolies and education. Now, Bank of America says investors are shedding their Chinese stock shares in favor of stay-at-home stocks.
7. Fun fact: cheese prices have come down because lumber has been up. As lumber costs soared this year, some cheesemakers switched to barrels instead of wooden boxes. Read how that reduced demand sent cheese prices to a 15-month low.
8. Retail investors made Moderna their most-bought stock leading up to Wednesday's 16% plunge. The drop came after a note from Bank of America called the shares overvalued, and as the EU said it would investigate vaccine side effects. See where fellow vaccine-maker Pfizer landed on the most-bought list.
9. The first bitcoin mutual fund's top investment strategist is all about safe crypto exposure. The Bitcoin Strategy ProFund launched in late July, and the chief strategist says the fund invests in front-month bitcoin futures, instead of the coin itself. He shared why he opts for building a bitcoin mutual fund instead of starting a digital wallet - and broke down safety measures for digital currency investors.
10. English Premier League teams are jumping into the NFT market. Five soccer teams, including Manchester City, are launching blockchain fan tokens on the Socios platform, which will offer supporters exclusive content. Here's how the move mimics the NBA's "Top Shot" NFTs.
Compiled by Phil Rosen. Feedback? Email prosen@insider.com or tweet @philrosenn.
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