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10 things you need to know before the opening bell

May 7, 2021, 17:11 IST
Business Insider
JOHANNES EISELE/AFP via Getty Images

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1. Global stocks near record highs ahead of key US jobs data. See what markets are doing today.

2. Elon Musk said dogecoin could ironically become the future of cryptocurrencies. But the billionaire told his followers to be careful, saying it would be "unwise" to invest too much.

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3. Citi plans to launch crypto trading services. A range of clients have shown interest in bitcoin, the bank's global head of foreign exchange said.

4. Goldman Sachs is offering bitcoin derivatives to investors. Trading with non-deliverable forwards will allow investors to speculate on bitcoin's future price.

5. Square reports Q1 bitcoin revenue grew 1,000% to $3.5 billion. Overall revenue was $5.06 billion, handily beating analyst expectations of $3.37 billion.

6. Earnings expected. Siemens, Cigna, Enbridge, and BMW are highlights.

7. On the data docket. US non-farm payrolls and the unemployment rate, wholesale inventories, and the Baker Hughes US oil rig count are due.

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8. A crypto VC firm that made an early investment in Ethereum is betting big on Polkadot. The founders explain why dot could overtake ether - and flags 2 promising DeFi projects that should be on your radar.

9. The head of global macro strategy at Delphi Digital breaks down why bitcoin's price has more room to run over the next 9 to 12 months in 4 charts. Kevin Kelly also relays what the next 10 years could look like for the emerging crypto economy.

10. Northwestern Mutual's chief investment strategist told us why growth investors are in for 'painful' months ahead as the economy heats up. Brent Schutte also shares his 2 highest-conviction trades right now.

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