10 things you need to know before the opening bell
Here's what you need to know before markets open.
1. Chinese stocks had their best day in a year as global markets ignore surging COVID cases and keep rising. The CSI 300 Index of Shanghai and Shenzhen stocks surged as much as 5.7% by the close, while the benchmark Shanghai Composite was also up almost 6%. Stocks in Europe were also up and US futures pointing to an increase between 1.1 and 1.3%.
2. Warren Buffett's Berkshire Hathaway strikes $10 billion deal with Dominion Energy for natural gas assets. The deal is the first major investment by Berkshire during coronavirus, and a sign the famed investor is willing to write big checks in the middle of a raging pandemic.
3. The World Bank abandoned plans to launch a fresh set of pandemic bonds for developing countries after widespread criticism. The organization had been criticized for dragging its feet on handing out aid to deprived nations, the Financial Times reported on Monday.
4. An audit of Wirecard's key business in Europe and the US reportedly shows its internal financial numbers are far worse than previously thought. Wirecard's primary business operations in Europe and the US have been unprofitable for years, according to a Financial Times investigation, bringing into question official financial reports which showed significant profits.
5. Bank of America identifies 3 indicators that could make or break the stock market this summer – and warns they're all deteriorating fast. The news flow around coronavirus infection rates and how various states are responding continues to drive market volatility and keep investors on their toes.
6. 'We may have a blow-up': Famed investor Jim Rogers explains how central bank 'madness' has the stock market hurtling towards another crash. "I am not very good at timing the market, but I suspect we may have a blow-up at least in the American stock market, and maybe the Japanese stock market, because of all this madness that is going on."
7. GOLDMAN SACHS: Buy these 13 stocks that are poised to crush the market within the next 2 weeks as earnings season gets underway. Stocks have been historically volatile in 2020, and anything that brings a little more stability and predictability is going to be deeply appreciated.
8. Elon Musk is triumphantly selling literal red satin Tesla short shorts to celebrate the firm's stock climbing. Tesla CEO Elon Musk tweeted on Sunday to announce that his electric car firm was selling limited-edition branded red satin shorts.
9. Earnings are coming in. Fuji Co 1Q 20 and Belc CO 1Q 20 are coming in.
10. On the economic front. US CFTC Oil NC Net Positions and 3-Month Bill auction are due.