10 things you need to know before the opening bell
Here's what you need to know before markets open.
1. Trump's advisers reportedly considered proposals to undermine Hong Kong's peg to the US dollar, threatening a system that has been in place since 1983. President Donald Trump's top most officials considered proposals to limit Hong Kong's peg to the US dollar as part of its response to China's draconian law imposed last month. If the limit was to come in effect, it could spell the end of a decades long currency arrangement that has been in place since 1983.
2. Warren Buffett's Berkshire Hathaway struck a $10 billion deal to buy Dominion Energy's natural gas business. Here's why the energy giant sold. Warren Buffett's Berkshire Hathaway recently struck a $10 billion deal to acquire most of Dominion Energy's natural gas business.
3. The most accurate analyst covering companies like Amazon says these 7 stocks are great bets for the future of e-commerce — even as the coronavirus bump fades. From FANG, to FAANG+ and FAANMG, Wall Street's favorite acronym is getting a little complicated.
4. An investment chief who doubled 3 of her firm's ETFs within 3 years told us the most overlooked technological innovation on her radar — and shared the 3 stocks she's been snapping up since the pandemic started. If Cathie Wood wanted to gloat and say her investing philosophy has been vindicated, she could probably get away with it.
5. Alibaba's Ant plans Hong Kong IPO, targets valuation over $200 billion, sources say. Ant Group, the fintech arm of Chinese e-commerce giant Alibaba, plans a Hong Kong float as soon as this year and targets a valuation of more than $200 billion, said two sources with knowledge of the matter.
6. Cannabis firms see jump in insurance costs to protect leaders as investors sue. Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and misinformation, with more such action expected.
7. Credit Suisse aims for 100% of securities venture in China growth plan. Credit Suisse wants to raise its China securities joint venture stake to 100% and increase its market share after getting the regulatory green light to take a majority holding, the head of its Asia business said.
8. Stocks are mixed. In Europe stocks are down. In Asia, Chinese and Hong Kong stocks are up but Japan's Nikkei is down 0.8%. US futures are pointing to a lower open.
9. Earnings coming in. WELCIA HOLDINGS and Johnson Electric Holdings are coming in.
10. On the economic front. US Consumer Credit EIA Crude Oil Stocks Change are due.