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. Stocks traded near record highs as inflation fears eased. See what markets are doing.
2. Michael Saylor's MicroStrategy increases junk bond borrowing. Saylor plans to invest the raised money into crypto assets.
3. El Salvador's congress approved a law making bitcoin legal tender. This gives the cryptocurrency the same status as the US dollar in the country.
4. Morgan Stanley's CIO believes the S&P 500 will drop 10%. He said earnings expectations were unachievable.
5. Lumber's sky-high price is not "the new normal, according to the CEO of the largest US producer said. But he does believe demand will remain strong for the next decade.
6. Earnings expected. Watch out for meme stock Gamestop.
7. On the data docket. The Bank of Canada's interest rate decision is due.
8. A veteran options trader shares how long the retail-fueled stock rally might last. Steve Sosnick also breaks down 3 potential drivers of AMC's 2,500% surge this year.
9. A TikTok crypto influencer with nearly 600,000 followers unpacks the tools he uses to determine price predictions. Pablo Heman also explains why bitcoin is at risk of tumbling 30% in the next couple of weeks.
10. The most accurate analyst working on Wall Street today covers banks for RBC. He told us about his outlook for the sector - and shared his 7 top stock picks.