10 things you need to know before the opening bell
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Here's what you need to know before markets open.
1. Global stocks ease after Chinese data paints a mixed picture of recovery and inflation concerns weigh heavily. US futures were down slightly as price rises continued to concern investors.
2. Bitcoin crashes to $42,000 after Elon Musk tweet-storm - but rebounds after he clarifies Tesla hasn't sold its holdings. Musk suggested Tesla may sell its bitcoin, but then clarified it hadn't, causing wild price swings.
3. Billionaire Mark Cuban says he holds 3,250 dogecoin that he bought with his son - and earns added inflows from Dallas Mavericks sales. The "Shark Tank" star suggested doge could become a valid payment mechanism.
4. Inflation could spike to 20% in the next few years as US money supply explodes, says Wharton professor Jeremy Siegel. The finance professor cited the unprecedented fiscal and monetary stimulus.
5. 'Big Short' investor Michael Burry predicted the inflation spike a year ago - and sounded the alarm multiple times in February. Burry said in April 2020 that the reopening could cause prices to shoot up.
6. Earnings expected. Recruit Holdings and Bridgestone are on Monday's list.
7. On the economics calendar. Federal Reserve Vice Chair Richard Clarida is due to speak.
8. 'Wolf of All Streets' crypto trader Scott Melker breaks down his strategy for making money using 'HODLing' and 100-times trade opportunities. He also shares 5 under-the-radar tokens he thinks could explode.
9. UBS is on the hunt for companies that offer both reliable profits and cheap valuations. The firm says to buy these 25 stocks that check both boxes.
10. The chief strategist at a $1.5 billion firm says stocks are staring down a period of weak returns as investors misjudge the recovery. Marko Papic also says those same traders are also mistaking how the Fed will react to inflation.