10 things you need to know before the opening bell
Here's what you need to know before markets open.
1. Chinese tech stock QuantumCTek skyrocketed 924% on its trading debut, breaking the record for a first-day gain. QuantumCTek issued its shares at 36.18 yuan ($5.18) each, and they soared more than tenfold to close north of 370 yuan. The stunning increase boosted the group's market capitalization from the yuan equivalent of $414 million to over $4.2 billion.
2. Billionaire investor Marc Lasry says the Fed's rampant stimulus makes 2020 a once in a lifetime opportunity for investors, as the US economy is fundamentally fine. The Fed pouring trillions of dollars to shore up markets has in fact made coronavirus a "once in a lifetime opportunity," billionaire investor Marc Lasry says.
3. UBS has compiled an investing playbook for all the possible election outcomes. Here are the 6 trades it recommends to profit from a Trump triumph — and 10 for a Biden blue wave. People complain about the length of US political campaigns. But in 2020, they might actually be a welcome distraction.
4. 174 units with no prior experience: Here's the creative real-estate investing strategy a former Marine is using to generate 'crazy' cash flow. After eight years in the Marine Corps, Matt DeBoth knew his life needed to move in a new direction.
5. Buy these 15 stocks that are shielded from COVID-19 fallout and primed to beat the market even as virus cases spike, Evercore says. Several states have seen spikes in COVID-19 cases in recent weeks, raising uncertainty for investors amid fears that the economy will sustain longer-term damage.
6. The UK and Australia are investigating Clearview AI, the facial recognition firm that scraped billions of photos from social media. Clearview AI, the facial recognition company that boasted of scraping billions of photos from the internet, is being investigated by data privacy watchdogs in the UK and Australia.
7. Trading, underwriting soften profit plunge for some US banks. Trading and underwriting revenue could provide some comfort for big Wall Street banks that begin reporting results next week, although second-quarter profits likely plunged because of the coronavirus pandemic's impact on lending.
8. Stocks are mixed. Asian stocks are up. European stocks and US futures are mixed. Moves are generally small, with S&P 500 futures pointing to a 0.02% advance at the open, and most European indexes moving less than 0.5%.
9. Earnings coming in. Kaufman et Broad is coming in.
10. On the economic front. USA EIA Natural Gas Storage Change and US initial jobless claims are due.