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10 things you need to know before the opening bell

Theron Mohamed   

10 things you need to know before the opening bell
Stock Market2 min read
Credit Suisse CEO Tidjane Thiam

Reuters

Here's what you need to know before the markets open.

1. The CEO of Credit Suisse resigned after an executive-level spying scandal engulfed the bank. Tidjane Thiam is leaving after a private investigator tailed a former executive who left for a rival bank.

2. Jeff Bezos raked in $3.5 billion in 4 days by selling Amazon stock. The pre-arranged sales represent about 3% of the Amazon chief's holdings.

3. Tesla's surge inspires fans to buy, skeptics to dig in, drives fear of missing out. "A lot of advisors and institutions, they jump in the bandwagon because they don't want to trail."

4. US payroll gains seen picking up, benchmark revisions under spotlight. "The employment report will support expectations that the economic expansion is going to continue at a moderate pace."

5. Goldman Sachs will reportedly raise $8 billion for new buyout fund. The investment bank is planning only its second buyout fund since the 2008 financial crisis, Reuters reported, citing two sources with direct knowledge of the matter.

6. Japanese telco SoftBank posts 15% rise in third-quarter profit, beats estimates. Operating profit was 243 billion yen ($2.2 billion), up from 211 billion yen a year earlier.

7. L'Oreal rallies as quarterly results offset China concerns. Shares in the French cosmetic giant rose after it posted an 11% rise in fourth-quarter revenue to 7.9 billion euros ($8.7 billion).

8. Stocks are broadly down. European equities drifted lower with Germany's DAX down 0.5%, Britain's FTSE 100 down 0.6%, and the Euro Stoxx 50 down 0.3%. Asian indexes were mixed with the Shanghai Composite up 0.3%, Hong Kong's Hang Seng down 0.3%, and Japan's Nikkei down 0.2%. US stocks are set to open lower with Dow Jones Industrial Average, S&P 500, and Nasdaq futures down 0.3% to 0.4%.

9. Key data is on the docket. Nonfarm payrolls will be closely watched.

10. Several big earnings are out. SoftBank, AbbVie, and Suzuki are on the list.

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