Here's what you need to know before
1. Warren Buffett scores a $570 million gain on his new Japanese stocks in just 2 days. Warren Buffett is famous for moving markets when he makes a bet, as other investors trust his judgement and pile into whatever he's bought. The "Buffett Effect" may have generated a $570 million gain for its namesake in just two days.
2. Expect greater tensions between the US and China no matter who wins the election, Fitch says.Policy on China has quickly emerged as one of the most contentious issues of the US 2020 presidential election.
3. Economist El-Erian says derivatives show retail traders may be drowned by a large correction in stocks. Mohamed El-Erian said in an op-ed with the Financial Times retail investors should consider the outlook of the options market to prepare for a stock market correction following explosive gains over the last five months.
4. Goldman Sachs boosts 2021 oil forecast and recommends Brent as an 'effective' hedge against uncertainty for investors. Goldman Sachs expects the oil market to gain momentum in 2021 as the coronavirus-induced slump in demand is mitigated by the "rising likelihood of widely available vaccines" next spring.
5. US Investing Championship hopeful Matthew Caruso landed a 382% return in the first half of 2020. He shares the unique twist he's putting on a classic trading strategy — and 3 stocks he's holding right now. Matthew Caruso, a 2020 US Investing Championship hopeful, caught the investing bug at an early age.
6. JPMorgan lays out 2 reasons 'bulletproof'-looking tech stocks are actually at serious risk — and shares 2 simple trades for investors looking to protect themselves. Marc Andreessen's famous 2011 op-ed is still true of the world — but especially true of the stock market these days, as technology companies carve out most of its value.
7. Facebook warns it can remove any content that might put it at regulatory or legal risk. Facebook is giving itself broader license to remove any content that could result in regulatory or legal headaches for the company.
8. Global stocks are mixed. European stocks are up but the UK's FTSE 100 is down 1.3%. Most Asian benchmarks finished the day modestly higher. Futures underlying the Dow are down 0.1%. But the S&P 500 and the Nasdaq are up 0.2% and 0.8%, respectively.
9. Earnings coming in. Old Mutual Limited and BKW AG Q2 20 earnings are coming in.
10. On the economic front. US Fed's Brainard speech and Total Vehicle Sales are due.