<ul class="summary-list"><li><keyword id="12062051" type="UNKNOWN" weightage="60" keywordseo="lululemon" source="Orion">Lululemon</keyword> slashed its sales forecasts for the year for its <keyword id="11911230" type="UNKNOWN" weightage="60" keywordseo="mirror" source="Orion">Mirror</keyword> brand on Thursday.</li><li>The company acquired Mirror for $500 million in 2020.</li></ul>Lululemon's<a href="https://www.businessinsider.com/lululemon-acquisition-of-mirror-is-a-smart-move-experts-say-2020-6?r=US&amp;IR=T"> $500 million acquisition</a> of high-tech <keyword id="11897658" type="UNKNOWN" weightage="60" keywordseo="fitness" source="Orion">fitness</keyword> brand <a href="https://www.businessinsider.com/1500-dollar-mirror-streams-workout-classes-review-2018-11?r=US&amp;IR=T">Mirror</a> doesn't seem to be paying off.On Thursday, reporting its third-quarter earnings results, Lululemon <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.fool.com%2Fearnings%2Fcall-transcripts%2F2021%2F12%2F09%2Flululemon-athletica-lulu-q3-2021-earnings-call-tra%2F">slashed its outlook for Mirror</a> sales for 2021 to between $125 million and $130 million. Previously it had estimated sales would reach between $250 million and $275 million."As you know, 2021 has been a challenging year for digital fitness," CEO Calvin McDonald told investors in a call Thursday. "We have seen increasing pressures on customer acquisition costs that are impacting the entire industry."He continued: "We will not chase growth at any cost. We simply don't need to, but we will invest to define our unique proposition and to bring Mirror to market through our owned marketing channels."When Lululemon acquired Mirror in the <a href="https://www.businessinsider.com/lululemon-acquisition-of-mirror-is-a-smart-move-experts-say-2020-6?r=US&amp;IR=T">summer of 2020</a>, the US was in the <a href="https://www.businessinsider.com/workout-at-home-fitness-future-gyms-boutique-studios-2020-5">midst of a pandemic-driven home fitness boom</a>. At the time, analysts touted the deal as a triumph, saying that it would position the company well for long-term growth."It really puts Lululemon in a new light," Greg Kahn, CEO of GK Digital Ventures, told Insider at the time. "It is almost future-proofing the company and saying: 'We are moving beyond our traditional commerce structure.'"But since then the market has become more crowded with new players and, with customers returning to gyms, some of the leading home fitness players have seen growth falter. Last month, Peloton, the pioneer of high-tech home fitness, reported<a href="https://investor.onepeloton.com/static-files/4e16bcc7-dd3b-40ec-acb6-840e691b40ee"> weaker-than-expected first-quarter earnings results</a> and lowered its forecast for fiscal 2022.Lululemon has also faced unique challenges with its Mirror acquisition. In conversations with <a href="https://www.businessinsider.com/mirror-ceo-resignation-brynn-putnam-lululemon-acquisition-2021-8?r=US&amp;IR=T">Insider's Bethany Biron</a>, a group of current and former Lululemon and Mirror employees described the struggle to integrate the two companies, which resulted in internal tension. Mirror's CEO Brynn Putnam stepped down in September and has not yet been replaced. Analysts say that recent discounts offered on its $1,495 Mirror fitness machine indicate that consumer demand is slowing. "We have observed Lululemon offering Mirror at $500 off and competitors also slashing prices in an effort to gain customers," B. Riley analyst Susan Anderson wrote in a note to clients Friday. "Management specifically noted that the digital fitness industry has been challenging in 2021, which we believe is due to consumers moving on to returning back to the gym and other pre-COVID activities throughout the year," she said.BMO Capital Markets analyst Simeon Siegel shared similar thoughts in a note to clients on Thursday."We have been monitoring promotions within the broader Connected Fitness space, where deals have been clearly ramping up, validating our expectation that competition (and promotions) are growing," he said.

Lululemon spent $500 million on high-tech fitness startup Mirror but the deal is losing its shine, analysts say

Hi. I'm Aaron Weinman. BlackRock has been slowly easing itself into the choppy seas of digital assets.BlackRock, alongside other investors, committed to a <a href="https://www.businessinsider.com/bitcoin-outlook-investing-crypto-stablecoins-usdc-circle-spacs-jeremy-allaire-2022-1">$400 million funding</a> for fintech Circle, which issues a US dollar-pegged stablecoin known as USDC, in April. Shortly after that, Insider <a href="https://www.businessinsider.com/blackrock-to-launch-blockchain-eft-in-2022-salim-ramji-meme-stocks2021-12">first reported</a> that BlackRock would launch a blockchain- and crypto-themed exchange-traded fund.Then last month, BlackRock inked a partnership with Coinbase to connect clients on its Aladdin platform with crypto. Later in August, BlackRock announced it would <a href="https://markets.businessinsider.com/news/currencies/bitcoin-blackrock-cryptocurrencies-private-spot-trust-institutional-clients-coinbase-winter-2022-8">launch a private trust</a> to provide bitcoin exposure to its US institutional clients.All this activity comes amid a severe downturn in digital-asset prices, <a href="https://www.businessinsider.com/inside-coinbase-layoffs-crypto-employees-spend-salaries-overhire-bitcoin-2022-6">layoffs at Coinbase</a>, and the possibility of <a href="https://www.businessinsider.com/sec-gary-gensler-crypto-regulation-startups-vcs-tokens-securities-2022-9">new regulation</a> from the US Securities and Exchange Commission.BlackRock, one could argue, has done a lot more than merely become exposed to crypto. In fact, it has amassed its own crypto crew, Insider's Rebecca Ungarino reported <a href="https://www.businessinsider.com/blackrock-crypto-digital-assets-blockchain-strategy-executives-2022-9">here</a>.Let's take a look at 10 leaders shaping the firm's crypto efforts.If this was forwarded to you,<a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street"> sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here</a>.<a href="https://www.businessinsider.com/blackrock-crypto-digital-assets-blockchain-strategy-executives-2022-9"></a>1. BlackRock is leaning on 10 leaders to iron out its strategy toward crypto and the broader digital-assets space. The company's foray into crypto comes amid a tough time for the space, which is hamstrung by weakened asset prices and broader market instability.Despite the see-saw nature of crypto, participation in the sector from the world's largest money manager lends a hefty amount of credibility to the asset class.Even with the downturn, Larry Fink, BlackRock's chief executive, said on the firm's earnings call in July that it was seeing "more interest from institutional clients" about how to access crypto.The main challenge for traditional financial services firms like BlackRock, however, is tapping into digital assets' talent pool. At the heart of the matter is getting legacy institutions to pivot to the fast-changing world of crypto.To help with that, BlackRock has amassed a crypto crew. Here is a bit <a href="https://www.businessinsider.com/blackrock-crypto-digital-assets-blockchain-strategy-executives-2022-9">more about them</a>.In other news:<a href="https://www.ifre.com/story/3514642/jp-morgan-sees-q3-trading-up-on-year-but-ib-slumps-zjpj9lnxjs"></a><div type="image" title="Wall Street street sign" height="3456" width="4608" msid="94202412" hostid="261" sizebytes="817114"></div>2. JPMorgan's fees from its investment bank could fall up to 50% year-on-year, <a href="https://www.bloomberg.com/news/articles/2022-09-13/jpmorgan-investment-banking-fees-seen-down-50-in-third-quarter">as revenues from underwriting and M&amp;A slump</a>, the bank's head of corporate and investment banking said. Bank of America's chief executive also said BofA is likely to see a similar drop in fees, but added that the bank's strong deal pipeline would help activity <a href="https://www.ifre.com/story/3514642/jp-morgan-sees-q3-trading-up-on-year-but-ib-slumps-zjpj9lnxjs">pick up once markets stabilize</a>. Both banks <a href="https://www.reuters.com/business/finance/jpmorgan-bofa-cautious-job-cuts-goldman-layoffs-loom-2022-09-13/">expressed caution</a> about job cuts, however, in contrast to Goldman Sachs, which could lay off hundreds <a href="https://www.businessinsider.com/goldman-sachs-bracing-for-layoffs-report-2022-9">from this month</a>.3. Security startup Tanium is trying to cozy up to Microsoft and set itself up to be acquired. The $9 billion startup has had two rounds of job cuts in the past month, as hopes of a potential initial public offering fade, current and former staff <a href="https://www.businessinsider.com/tanium-microsoft-acquisition-layoffs-cybersecurity-sales-technical-solutions-2022-5?nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=10_things_tech&amp;utm_campaign=Post%20Blast%20sai:%20An%20internal%20report%20explains%20why%20Instagram%20is%20struggling%20to%20keep%20up%20with%20TikTok&amp;utm_term=10%20THINGS%20IN%20TECH%20SEND%20LIST">told Insider</a>.4. Peloton went from a pandemic-era success story worth $50 billion to laying off more than 4,000 of its workforce. Here is how the at-home exercise company's rise turned <a href="https://www.businessinsider.com/peloton-company-history-rise-fall-2022-2">into a swift fall</a>.5. Goldman Sachs is set to raise about $15 billion for its latest mezzanine debt fund, Bloomberg reported. The fund, called GS Mezzanine Partners VIII, topped its initial target of $12.5 billion. In terms of repayment to lenders, mezzanine debt sits between senior debt and equity funding in a <a href="https://www.bloomberg.com/news/articles/2022-09-13/goldman-sachs-set-to-raise-15-billion-for-mezzanine-debt-fund?cmpid=BBBXT091322_DEALS&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=220913&amp;utm_campaign=deals">capital structure of a business</a>.6. Rising rates and slowing economic growth have left many companies saddled with high debt loads and greater interest-rate payments. The Financial Times has created a list of so-called "debt monsters" that are <a href="https://www.ft.com/content/e5a807a5-a65f-4885-ab5f-871d545e36a3">flashing warning signals</a>.7. KKR has made a piece of one its private-equity funds available for individuals to invest in on a public blockchain, the Wall Street Journal reported. The investment firm is partnering with digital-assets specialist Securitize, which will tokenize an interest in KKR's Healthcare Strategic Growth Fund. The fund will be available for investors via the <a href="https://www.wsj.com/articles/kkr-makes-piece-of-pe-fund-available-on-public-blockchain-11663014955">Avalanche public blockchain</a>.8. Goldman Sachs' largest-ever tech conference is happening in San Francisco. Tech executives from Microsoft and Qualcomm shared dour outlooks for the space. Here is a view from <a href="https://www.businessinsider.com/view-from-inside-goldman-sachs-biggest-ever-technology-conference-2022-9">inside the bank's event</a>.9. Twitter's shareholders have approved Elon Musk's $44 billion takeover of the social-media company. With Musk trying to back out of the deal, the shareholders' approval of his original agreement now sets the stage for <a href="https://www.businessinsider.com/twitter-shareholders-vote-approval-elon-musk-takeover-deal-court-battle-2022-9">a testy legal battle</a>. Also, here is a <a href="https://www.businessinsider.com/what-happened-with-elon-musk-twitter-timeline">timeline of Musk's nine-month chaotic saga</a> to buy Twitter, from a poop emoji to a whistleblower appearing before Congress.10. Gibson Dunn is one of the country's most prestigious law firms. Here, two partners outline the traits they look for and the questions they ask when <a href="https://www.businessinsider.com/how-to-get-hired-at-gibson-dunn-interview-questions-2021-9">recruiting summer associates</a>.People moves:<ul><li>Vista Equity Partners has hired Michael Charlton as a managing director in its capital and partner solutions unit. Charlton will lead investor relations for Vista's credit platform. He most recently was a MD for Anchorage Capital Group.</li><li>Credit Suisse has lost two bankers to Morgan Stanley and Bank of Montreal, Bloomberg <a href="https://www.bloomberg.com/news/articles/2022-09-13/credit-suisse-loses-two-bankers-to-morgan-stanley-and-bmo?utm_medium=email&amp;utm_source=newsletter&amp;utm_term=220913&amp;utm_campaign=author_19798797">reported</a>.</li><ul><li>Daniel Cavalli is joining Morgan Stanley as a managing director. He led Credit Suisse's financial institutions coverage and M&amp;A for Latin America.</li><li>Amit Melwani, who is joining the Canadian bank, was also a MD who covered consumer and retail M&amp;A.</li></ul></ul>Curated by Aaron Weinman in New York. Tips? Email <a href="mailto:aweinman@insider.com">aweinman@insider.com</a> or tweet <a href="https://twitter.com/aaronw11">@aaronw11</a>. Edited by Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

BlackRock has amassed a formidable crypto crew as it makes serious inroads into digital assets. Meet 10 leaders shaping the money manager's crypto efforts.

Welcome back to <a href="http://newsletter.businessinsider.com/join/10-things-in-politics">10 Things in Politics</a>. <a href="http://newsletter.businessinsider.com/join/10-things-in-politics">Sign up here to receive this newsletter</a>. Plus, download Insider's app for news on the go - click <a href="https://apps.apple.com/app/apple-store/id554260576">here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider">here for Android</a>. Send tips to <a href="mailto:bgriffiths@insider.com">bgriffiths@insider.com</a>.Here's what we're talking about:<a href="https://www.businessinsider.com/fauci-guidance-trick-or-treat-celebrate-halloween-covid-coronavirus-mask-2021-10"></a><ul><li><a href="https://www.businessinsider.com/democrats-biden-economic-bills-virginia-election-losses-reconciliation-2021-11">An electoral wipeout in Virginia has Democrats scrambling to deliver on Biden's $3 trillion economic agenda</a></li><li><a href="https://www.businessinsider.com/black-peloton-employees-questioning-fitness-company-about-pay-2021-10">Black Peloton employees are questioning the company about low pay</a></li><li><a href="https://www.insider.com/judge-wont-change-racial-makeup-jury-ahmaud-arbery-murder-trial-2021-11">There is only one Black juror in the trial for Ahmaud Arbery's killing</a></li></ul>1. VIRGINIA FALLOUT: Democrats are anxious to get to work. President Joe Biden and other top leaders responded to the party's drubbing in Virginia <a href="https://www.businessinsider.com/democrats-biden-economic-bills-virginia-election-losses-reconciliation-2021-11">by renewing efforts to pass trillions of dollars in new spending</a>, hoping that voters will reward them next November. But Democrats don't fully agree on why they struggled so much in Virginia, New Jersey, and parts of New York. And there is still disagreement over the party's massive social-spending plan.<ul><li>Key quote: "We got majorities in both houses, so people want us to deliver," Sen. Tim Kaine of Virginia told Insider, urging his colleagues to pass Biden's economic agenda, which has stalled in two separate pieces of legislation: a nearly $1 trillion bipartisan infrastructure plan and a roughly $1.75 trillion package of social and climate initiatives.</li></ul>Here's where things stand:House Speaker Nancy Pelosi vowed swift passage: House Democrats began procedural steps toward passing the social-spending plan last night. Pelosi, who has long vowed to pass only a bill that could make it to Biden's desk, also moved to reinstate a four-week paid-family-leave proposal and a costly and controversial tax break that would overwhelmingly benefit higher-earning Americans.<ul><li>Not everyone is on board: Sen. Joe Manchin, a key swing vote, has long expressed skepticism about including paid leave in the social-spending plan. <a href="https://www.businessinsider.com/paid-family-medical-leave-back-in-democrats-social-soending-bill-2021-11">Pelosi's move essentially dares Manchin to block the popular provision, which still might get axed from the final bill</a>.</li></ul>Democrats even disagree on why they are struggling: "<a href="https://www.nytimes.com/2021/11/03/us/politics/democrat-losses-2022.html">Nobody elected him to be F.D.R. - they elected him to be normal and stop the chaos</a>," Rep. Abigail Spanberger of Virginia told The New York Times of voters' apparent frustration with Biden. His approval rating has dropped nationally and cratered in places like Virginia in recent months.<ul><li><a href="https://www.businessinsider.com/biden-unsure-if-passing-bills-could-have-changed-va-election-2021-11">Biden himself wasn't convinced</a> that passing his agenda would've stopped the bleeding: "I'm not sure that I would be able to have changed the number of very conservative folks who turned out in the red districts who were Trump voters," the president told reporters. Biden added that voters "want us to get things done," reiterating his call for lawmakers to pass both parts of his economic agenda.</li></ul>Meanwhile, Republicans are salivating about 2022: House Minority Leader Kevin McCarthy boldly predicted his party would flip more than 63 seats, the number Republicans reached during the 2010 tea-party wave. <a href="https://www.businessinsider.com/5-reasons-why-democrats-should-be-worried-about-2022-2021-11">Democrats have (at least) five reasons to be worried about the midterms</a>.2. Gov. Phil Murphy eeks out a reelection victory: Murphy narrowly defeated the Republican Jack Ciattarelli, becoming the first Democratic governor to win reelection in the state since 1977. <a href="https://www.businessinsider.com/new-jersey-governors-race-phil-murphy-jack-ciattarelli-live-results-2021-11">See the full results here</a>.The other election stories you should be watching:<ul><li>A truck driver may beat the most powerful New Jersey state senator: Sen. Steve Sweeney, who has led the New Jersey Senate for over a decade, continues to trail the Republican Edward Durr, who reportedly spent just $153 on his campaign. <a href="https://www.nj.com/politics/2021/11/how-a-truck-driver-spent-153-on-his-nj-election-campaign-to-likely-dethrone-a-political-kingpin.html">More on what would be a massive shake-up</a>.</li><li>Republicans flipped control of Virginia's House of Delegates: Democrats are still not conceding that their narrow majority was toppled amid a terrible night for the party. <a href="https://richmond.com/news/state-and-regional/govt-and-politics/filler-corn-not-conceding-house-majority-as-gop-finds-surprising-path-to-victory/article_9564dec3-a3f0-5e37-92c4-75bab4b3642d.html#tracking-source=home-top-story-1">But Republicans appear to now have a 52-48 advantage</a>.</li><li>Sen. Kyrsten Sinema's hometown voted for a $15-an-hour minimum wage: <a href="https://www.businessinsider.com/tucson-sinemas-birthplace-just-voted-for-a-15-minimum-wage-2021-11">Tucson voters passed a measure that would gradually increase the minimum wage to $15 by 2025</a>.</li></ul>3. There is only one Black juror in the trial for Ahmaud Arbery's killing: Superior Court Judge Timothy Walmsley denied a motion to change the racial makeup of the jury in the murder trial of three men over the killing of Arbery in 2020, the Associated Press reports. Walmsley found "there appears to be intentional discrimination in the panel" but ruled the trial should go forward since defense attorneys could cite reasons beyond race for striking eight Black jury candidates. <a href="https://www.insider.com/judge-wont-change-racial-makeup-jury-ahmaud-arbery-murder-trial-2021-11">More on the news</a>.4. Fed plans to start reining in its economic aid this month: After deploying unprecedented economic support for 20 months, the Federal Reserve plans to start putting its tools back in the toolbox. The Fed said in a statement that since the US economy had made "substantial further progress" toward key recovery goals, it would start reversing course and shrinking its asset purchases. <a href="https://www.businessinsider.com/federal-reserve-tapering-start-november-asset-purchases-support-jerome-powell-2021-11">Here's what the Fed decision means for its outlook on monitoring inflation</a>.5. SCOTUS appears ready to expand gun rights: Justices heard arguments about a New York gun-permit law in a major case whose outcome could dramatically expand Second Amendment rights. The conservative members of the court, who hold a 6-3 majority, appeared receptive to the argument that carrying a gun outside the home "is a fundamental constitutional right" that shouldn't require any special reason. <a href="https://www.businessinsider.com/supreme-court-justices-gun-rights-gun-control-second-amendment-case-2021-11">More on what justices said about the biggest Second Amendment case at the Supreme Court in over a decade</a>.6. Republicans mount near-unanimous opposition to voting-rights bill: Sen. Lisa Murkowski of Alaska was the sole Republican senator who voted to advance to debate on the John Lewis Voting Rights Advancement Act, a major item of voting-rights legislation that would've restored some provisions of the Voting Rights Act of 1965 struck down by the Supreme Court. The measure failed to get the necessary 60 votes needed to open debate under the Senate's filibuster rules. <a href="https://www.businessinsider.com/lisa-murkowski-is-sole-gop-senator-to-vote-to-advance-voting-rights-bill-2021-11">Here's what's next for Democrats in their push for federal voting-rights legislation</a>.<div type="image" title="Employee Hands pointing to Peloton bike with question marks and money symbols on bike screen" height="1251" width="1668" msid="87525131" hostid="261"></div>7. Black Peloton employees are questioning the company about low pay: Peloton has been promising pay equity since 2019. Now a group of employees known as "Black@Peloton" has been sharing salaries and raising questions. <a href="https://www.businessinsider.com/black-peloton-employees-questioning-fitness-company-about-pay-2021-10">Four Black current and former employees described personal experiences at Peloton that they said showed a pattern of underpaying certain workers</a>.8. Legal experts detail how Dominion could take over MyPillow: Dominion filed a $1.3 billion defamation suit against MyPillow and CEO Mike Lindell in February over Lindell's spreading of widely debunked conspiracy theories about the 2020 election. The litigation has led to people joking that Dominion will soon own the pillow company. <a href="https://www.businessinsider.com/will-dominion-own-mypillow-if-it-wins-defamation-lawsuit-2021-11">But there are two real ways legal experts say Dominion could end up owning MyPillow if it won in court</a>.9. Pentagon watchdog finds no misconduct in Kabul drone strike: Lt. Gen. Sami Said, the inspector general of the Air Force, told reporters the strike in Afghanistan's capital was a consequence of "execution errors combined with confirmation bias and communication breakdowns." The August strike killed 10 civilians, including seven children. The full report on the strike, which includes several recommendations on how to avoid similar incidents in the future, is classified. <a href="https://www.businessinsider.com/pentagon-finds-no-misconduct-kabul-drone-strike-killed-10-civilians-2021-11">More on why a watchdog found the strike didn't violate the laws of war</a>.10. Exiled Papa John's founder cannot stop eating the chain's pizza: "Papa John" Schnatter told Bloomberg he had tried somewhere in the realm of 800 pizzas over the past 18 months. He isn't consuming the whole pies but "sampling" them instead - a kind of anecdotal quality assurance that he said was returning lackluster results. <a href="https://www.businessinsider.com/papa-johns-founder-john-schnatter-800-pizzas-18-months-2021-11">More on the former founder's turn against Papa John's</a>.Today's trivia question: Who was the first sitting president to have his picture taken? Email your answer and a suggested question to me at <a href="mailto:bgriffiths@insider.com">bgriffiths@insider.com</a>.<ul><li>Yesterday's answer: Eight presidents have been born in Virginia, the most of any state. <a href="https://www.statista.com/statistics/1097042/us-president-birth-states/">The most recent was Woodrow Wilson</a>.</li></ul>

10 Things in Politics: Dems scramble after Virginia

<a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell&amp;hash=8122c716833601fc1471f79af063b104?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.</a>Here's what you need to know before <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> open.1. <a href="https://markets.businessinsider.com/news/stocks/citigroup-slammed-400-mln-fine-longstanding-deficiencies-regulation-occ-fed-2020-10-1029660295">Citigroup slammed with $400 million fine for 'longstanding failure' to resolve its risk and data systems</a>. Thursday's fine is the second penalty slapped on the bank in recent weeks.2. <a href="https://www.businessinsider.com/easyjet-11-billion-loss-covid19-demand-airlines-coronavirus-2020-10">EasyJet forecasts a loss of $1.1 billion, its first annual loss, as the pandemic continues to ravage the airline industry</a>. The British airline scrapped its dividend.3. <a href="https://www.businessinsider.com/stock-market-investing-advice-stimulus-talks-sector-impact-david-bahnsen-2020-10">A $2.5 billion investment chief highlights the stock-market sectors poised to benefit the most if stimulus is passed after the election — and says Trump ending negotiations doesn't threaten the economic recovery</a>. The tussle in Washington over more stimulus checks for Americans will be a source of stock-market volatility in the short term, David Bahnsen said.4. <a href="https://www.businessinsider.com/stock-picks-21-companies-for-strong-sales-growth-goldman-sachs-2020-10">Goldman Sachs says to buy these 21 stocks poised to deliver the strongest sales growth through year-end</a>. The bank screened the S&amp;P 500 to rank the 100 largest stocks by sales growth. Here are 21 with the strongest expected sales growth into year-end.5. <a href="https://www.businessinsider.com/investing-outlook-bmo-capital-markets-analyst-survey-peloton-overvalued-expensive-2020-10">Peloton's market cap just reached a record $32 billion — but a new survey and Wall Street's solo bearish analyst warn its valuation should be less than half of that. Here's why investors should be cautious</a>. BMO Capital Markets equity analyst Simeon Siegel's bearish case on Peloton's market size and a new CivicScience survey echoing his sentiments.6. <a href="https://www.businessinsider.com/investing-outlook-ftse-100-short-sellers-418-million-profits-september-2020-10">Betting against the FTSE 100 netted traders $540 million in September. These are the 5 most and least profitable short sells last month</a>. Ortex Analytics lists the most profitable and least profitable FTSE 100 short sells for September after short-sellers make $540 million in profits.7. <a href="https://markets.businessinsider.com/news/stocks/airline-stocks-price-united-jetblue-cash-liquidity-target-upgrade-jpmorgan-2020-10-1029658135">United Airlines and JetBlue could soar nearly 50% on upgraded outlooks for ample cash through 2022, JPMorgan says</a>. Despite expectations for weaker air-travel demand and weak earnings reports, JPMorgan upgraded the airline stocks.8. US futures are up. Germany's DAX rose 0.6%, Britain's FTSE 100 rose 0.4%, and the Euro Stoxx 50 rose 0.5%. In Asia, markets in China were closed for a holiday, Hong Kong's Hang Seng fell 0.2%, and Japan's Nikkei rose 0.9% at the close. In the US, futures on the Dow Jones, the S&amp;P 500, and the Nasdaq 100 rose 0.5%.9. <a href="https://markets.businessinsider.com/earnings-calendar">Earnings keep coming</a>. Domino's Pizza and Seven &amp; i Holdings are highlights.10. <a href="https://markets.businessinsider.com/economic-calendar">On the data calendar</a>. The US 30-year bond auction, the Energy Information Administration's natural gas storage change, and continuing jobless claims are due.

10 things you need to know before the opening bell

Welcome to <keyword id="11937554" type="UNKNOWN" weightage="60" keywordseo="10-things" source="Orion">10 Things</keyword> Before the Opening Bell.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-opening-bell">sign up here.</a> Plus, download Insider's app for news on the go – <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8">click here for iOS</a> and<a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider"> here for Android</a>.Let's jump in. 1. The impact of a hawkish Fed has experts divided. As the central bank prepares for its first of several interest rate hikes of 2022 next month, a common piece of advice peddled to investors has been, "brace for volatility."Among those voicing concern is famed economist Mohamed El-Erian. He has warned the <a href="https://markets.businessinsider.com/news/stocks/stock-market-volatility-federal-reserve-rate-hikes-mohamed-el-erian-2022-2">Fed's rate hikes could hammer the economy and drive volatility in the stock market.</a> In his eyes, the policy shift is too abrupt after the central bank spent valuable time dragging its feet on combating inflation. "I question whether the economy can take seven rate hikes with quantitative tightening on top of that," El-Erian said. "I'm worried as to whether it's going to absorb it."BlackRock holds a different outlook, though. The $10 trillion asset manager said the market is overreacting, and that the Fed will raise interest rates less sharply than investors expect — <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-federal-reserve-rate-hikes-blackrock-inflation-2022-2">the real outcome is likely to be more dovish. </a>Investors can prepare for policy updates by <a href="https://markets.businessinsider.com/news/stocks/stocks-to-buy-first-fed-rate-hike-value-sectors-blackrock-2022-2">building around the financials, energy, and "quality parts of the technology sector,"</a> as well as margin-resilient sectors, according to a BlackRock iShares strategist. "We favor quality, innovative tech companies with stable cashflows and higher profit margins," wrote Gargi Chaudhuri, head of iShares Investment Strategy. 2. US stock futures are heading higher. Investors are preparing for Thursday's inflation print and taking some heart from easing tensions between Russia and Ukraine. <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-inflation-print-us-cpi-russia-ukraine-tension-2022-2">Take a look at what's happening today.</a>3. Bank of America listed the top investing themes its team is targeting. The firm's analysts, strategists, and economists compiled their insights into what will happen next in <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> and the global economy. See their list of 10 themes — <a href="https://www.businessinsider.com/stock-market-strategy-2022-big-investing-themes-to-profit-bofa-2022-1">and how you can profit from each of them.</a>4. Earnings on deck: The Walt Disney Company, CVS Health Corp, and Fox Corp, all <a href="https://markets.businessinsider.com/earnings-calendar">reporting.</a> 5. Alphabet's 20-for-1 stock split may entice other companies to do the same, per Bank of America. The move could allow fresh inflows into the stock market this year. The bank found <a href="https://markets.businessinsider.com/news/stocks/alphabet-stock-split-shareholder-friendly-policies-share-appreciation-tech-investing-2022-2">stock splits are historically bullish for the companies that enact them.</a>6. Crypto donations to groups backing Ukraine are soaring as the threat of war with Russia looms. A cryptocurrency analytics firm has reported massive donations in recent months — <a href="https://markets.businessinsider.com/news/currencies/bitcoin-crypto-ukraine-donations-army-groups-russia-attack-funding-cryptocurrency-2022-2">including $200,000 worth of bitcoin for Come Back Alive, a Ukrainian army support group.</a>7. Peloton soared after CEO John Foley announced he was stepping down. The company said it <a href="https://markets.businessinsider.com/news/stocks/peloton-stock-price-ceo-john-foley-steps-down-job-cuts-2022-2">would cut 2,800 jobs</a>, and slashed its full-year revenue guidance. The activist investment firm that had pushed for Foley's exit thinks <a href="https://markets.businessinsider.com/news/stocks/peloton-potential-buyers-blackwells-berkshire-hathaway-lululemon-nike-john-foley-2022-2">Berkshire Hathaway and Adidas check every box as a potential buyer of the company.</a>8. Wells Fargo said it isn't too late to invest in crypto. Adoption could only now be nearing a "hyper-inflection point," the bank said. <a href="https://markets.businessinsider.com/news/currencies/crypto-investing-buy-bitcoin-adoption-hyper-inflection-point-wells-fargo-2022-2">It explained why investors shouldn't feel like they missed out on the crypto boom. </a>9. A stock-picking expert broke down how to tap into the metaverse as the nascent sector surges. As virtual worlds boom in popularity, some are still questioning the narrative around investing in the trend. <a href="https://www.businessinsider.com/metaverse-stocks-to-buy-three-companies-set-to-soar-expert-2022-2">These three companies that aren't Meta can make a good entry point for investors looking to get skin in the game.</a>10. Bank of America is predicting a stunning 11 rate hikes this year and next. But the firm said stocks will weather them just fine —<a href="https://www.businessinsider.com/how-to-invest-stocks-high-inflation-fed-rate-hikes-bofa-2022-2"> here's what it recommends investors should buy to thrive in the new environment.</a>Event invite: On February 15, <a href="http://events.insider.com/identity-equation?utm_source=Newsletter&amp;utm_medium=email&amp;utm_campaign=2022-2-15_Identity_AU10TIX" target="_blank" rel="noopener noreferrer">join AU10TIX and Insider</a> for an expert discussion on the cutting-edge of identity verification in the financial services industry — from technology trends to cybersecurity and compliance demands. <a href="http://events.insider.com/identity-equation?utm_source=Newsletter&amp;utm_medium=email&amp;utm_campaign=2022-2-15_Identity_AU10TIX" target="_blank" rel="noopener noreferrer">Register here.</a>Compiled by Phil Rosen. Feedback? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.Sign up for <a href="https://www.businessinsider.com/subscription/newsletter">more Insider newsletters here</a>.

10 things before the opening bell

PelotonPeloton's latest ad featured a woman who was gifted a bike for Christmas. It was widely mocked.Good morning! This is the tech news you need to know this Thursday.<ol><li><a href="https://www.businessinsider.com/instagram-to-collect-ages-in-push-for-youth-safety-alcohol-ad-dollars-2019-12?IR=T">Instagram says it will require all new users to provide their birthdates, starting Wednesday.</a> In a blog post, the company said it wants to "help keep young people safer and enable more age-appropriate experiences." It won't require users to verify the birthdates they provide, however. </li><li><a href="https://www.businessinsider.com/amazon-web-services-ceo-andy-jassy-jedi-aws-reinvent-2019-12?r=US&amp;IR=T">Amazon cloud CEO Andy Jassy said the company feels strongly that Microsoft's $10 billion JEDI cloud win 'was not adjudicated fairly' because of political interference</a>. Jassy said that there was "significant political interference," as President Donald Trump has a feud with Amazon CEO Jeff Bezos.</li><li><a href="https://www.businessinsider.com/googlers-angry-page-and-brin-left-instead-of-fixing-culture-2019-12">Current and former Googlers are furious that Larry Page and Sergey Brin stepped back instead of fixing the culture</a>. Several prominent Googlers have used Twitter to vent their frustration at Brin and Page's decision.</li><li><a href="https://www.businessinsider.com/elon-musk-talks-about-his-wealth-pedo-guy-defamation-trial-2019-12">Elon Musk opened up about his wealth during second day of testimony in 'pedo guy' defamation trial</a>. The Tesla CEO said he was worth around $20 billion but most of that isn't cash.</li><li><a href="https://www.businessinsider.com/elizabeth-warren-larry-page-is-still-accountable-for-google-regulation-2019-12">Elizabeth Warren tweeted at Larry Page that Congress will still hold him accountable for Google, regardless of his job title</a>. The presidential candidate, who has made regulating big tech a key part of her campaign, said Page was still responsible for Google's practices.</li><li><a href="https://www.businessinsider.com/new-xbox-project-scarlett-2-consoles-anaconda-lockhart-microsoft-2019-12">Microsoft is reportedly working on two new Xbox consoles for 2020, and one of them won't have a disc drive</a>. The company has already confirmed that the next Xbox, codenamed Project Scarlett, will launch during the 2020 holiday season.</li><li><a href="https://www.businessinsider.com/peloton-internal-documents-reveal-red-hot-companys-marketing-strategy-2019-12">Leaked internal Peloton documents revealed how the fitness startup is trying to shed its 'cultish' image as it plots its post-IPO expansion</a>. Documents issued to ad agencies pitching for Peloton's business earlier this year show how it hopes to grow its customer base.</li><li><a href="https://www.businessinsider.com/slack-earnings-competition-from-microsoft-teams-investors-still-skeptical-2019-12">Slack's CEO has dissed the hyper growth of Microsoft Teams, saying users of dead Microsoft products are being 'force migrated'</a>. Stewart Butterfield addressed the competition with Microsoft Teams in the company's latest earnings call.</li><li><a href="https://www.businessinsider.com/tesla-didnt-help-police-with-investigation-2019-12">Tesla refused to help the police with an investigation into stolen copper wire after Elon Musk learned about the incident because the company was scared of bad press</a>. The electric vehicle maker declined to assist authorities on other occasions amid reports of "rampant crime" in 2018, according to the Reno Gazette Journal.</li><li><a href="https://www.businessinsider.com/youtube-rewind-2019-video-pewdiepie-shane-dawson-mrbeast-dislikes-2019-12">YouTube hinted that its 'Rewind 2019' video will include PewDiePie and other stars the platform left out of last year's much-hated video</a>. Last year's Rewind video was criticized for failing to include some of YouTube's most controversial stars, like PewDiePie and the Paul brothers.</li></ol>Have an Amazon Alexa device? Now you can hear 10 Things in Tech each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.You can also <a href="https://newsletter.businessinsider.com/join/free">subscribe to this newsletter</a> here - just tick "10 Things in Tech You Need to Know." <h3>NOW WATCH: <a href="https://www.businessinsider.com/ben-horowitz-what-companies-get-wrong-about-corporate-culture-2019-11">Legendary venture capitalist Ben Horowitz on culture mistakes most companies make, diversity in leadership, and the outlook for crypto</a></h3>

10 things in tech you need to know today

<div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Shamil ZhumatovWorkers carry out maintenance at an oil well on oil fields operated by a subsidiary of the KazMunayGas Exploration Production JSC in Kyzylorda region.</div></div></div><ul><li>The uncertainty surrounding the US-China trade war has severely depressed corporate earnings expectations and forecasts for global growth, Bank of America Merrill Lynch has found.</li><li>The firm's findings came from its monthly global fund manager survey, which takes the temperature of 230 managers with a combined $645 billion in assets under management.</li><li><a href="https://markets.businessinsider.com/">Visit Markets Insider's homepage for more stories</a>.</li></ul>Expectations for future global growth and corporate profits among fund managers overseeing more than half a trillion dollars have collapsed as President Donald Trump's <a href="https://www.businessinsider.com/category/us-china-trade-war">trade war with China</a> rages on That's according to Bank of America Merrill Lynch's June global fund manager <a href="https://www.businessinsider.com/bank-of-america-fund-manager-survey-fms-cash-level-buy-2019-6">survey</a>, released this week, which tracks market and economic outlooks among 230 fund managers with a combined $645 billion in assets.The survey was the "most bearish survey of investor confidence since Global Financial Crisis," the firm's strategists led by Michael Hartnett wrote in a Tuesday report to clients.Though the US stock market now trades within shouting distance of its <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-reaction-to-trump-xi-g20-meeting-news-2019-6-1028288938">record high</a>, pessimism among investors has been driven by central bank uncertainty as well as trade war and economic slowdown concerns. A bonus just for you: <a href="https://www.businessinsider.com/subscription/try-prime?ms?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.businessinsider.com/subscription/try-prime?ms&amp;source=gmail&amp;ust=1560609085229000&amp;usg=AFQjCNFn6kRKsv--pWAFzmE2aDxEpiaN_Q">Click here to claim 30 days of access to Business Insider PRIME</a>Stocks received a boost Tuesday as investors pinned their hopes on President Trump and Chinese President Xi Jinping <a href="https://markets.businessinsider.com/news/stocks/trump-china-tariff-war-tweets-talks-will-resume-before-g20-2019-6-1028288360?utm_source=markets&amp;utm_medium=ingest">moving toward a deal later this month</a> at the G20 summit in Osaka, Japan. Any sign of progress that emerges from a meeting between the leaders may put to rest some of investors' lingering concerns about a trade war resolution.In the meantime, investors' macroeconomic views are bearish. Fund managers' global growth expectations from May to June plunged by the largest amount since November 1994, BAML found. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Bank of America Merrill LynchFund managers' global growth expectations, according to Bank of America Merrill Lynch.</div></div></div>On a similar note, a record 87% of survey respondents call the global economy "late-cycle." After all, the <a href="https://www.businessinsider.com/next-recession-2020-economy-downturn-with-rest-of-world-socgen-2019-6">US economic expansion</a> is closing in on recording its longest run in history.Read more: <a href="https://markets.businessinsider.com/news/stocks/us-government-bonds-treasurys-are-worlds-most-crowded-trade-baml-2019-6-1028290644">The market's safest assets have become the world's most crowded trade - and it shows just how worried everyone is about the trade war</a>Forecasts for companies' growth is similarly dim as the latest US earnings season <a href="https://markets.businessinsider.com/news/stocks/q1-earnings-season-results-have-come-in-better-than-expected-2019-5-1028239964">narrowly avoided an earnings recession</a>.Global profit expectations fell by the second-largest amount on record, by BAML's tally, with 41% of fund managers stating they will "deteriorate" over the next year. As such, investors are overweight assets that outperform when interest rates and earnings both fall.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Bank of America Merrill Lynch.Fund managers' profits expectations, according to BAML.</div></div></div>Now read more markets coverage from Markets Insider and Business Insider:<a href="https://www.businessinsider.com/technical-analysis-explained-rsi-on-balance-volume-simple-moving-average-2019-6">These 3 chart-based market signals can help investors remove emotion from their process and achieve super-sized profits</a><a href="https://www.businessinsider.com/bank-of-america-fund-manager-survey-fms-cash-level-buy-2019-6">Investors - terrified by the global trade war - have more cash sitting on the sidelines than in the 2011 debt crisis, and Bank of America says it's 'a contrarian buy signal'</a><a href="https://markets.businessinsider.com/news/stocks/beyond-meat-stock-price-short-sellers-stubbornly-clinging-to-bets-2019-6-1028288788">Beyond Meat short sellers are stubbornly clinging to their bets, even after racking up $600 million of losses in less than 2 months</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/peloton-worth-hype-spin-class-stationary-bike-home-workout-review-2019-3">I took a 45-minute Peloton spin class every day and saw surprising results after 2 weeks</a></h3> <div> </div> </div>

Expectations for global growth and corporate profits are cratering as Trump's trade war rages on

<ul><li>US stocks wavered on Tuesday as momentum from <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-intraday-records-sp500-dow-pfizer-vaccine-2020-11-1029783434">Monday's rally</a> extended the shift from expensive growth stocks to small-cap and cyclical picks.</li><li>The tech-heavy <a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Nasdaq composite</a> sank, while the <a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Dow Jones industrial average</a> and the small-cap-focused <a href="https://markets.businessinsider.com/index/russell_2000">Russell 2000</a> gained.</li><li>While <a href="https://markets.businessinsider.com/stocks/pfe-stock">Pfizer</a> and <a href="https://markets.businessinsider.com/stocks/bntx-stock">BioNTech's</a> Monday <a href="https://www.businessinsider.com/pfizer-coronavirus-vaccine-success-plans-for-emergency-approval-fda-2020-9?utm_source=markets&amp;utm_medium=ingestgest">vaccine update</a> bolstered investors' risk appetites, soaring COVID-19 case counts offset some optimism.</li><li>Oil prices continued to climb as vaccine hopes improved demand outlooks. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti" target="_blank" rel="noopener">West Texas Intermediate crude</a> gained as much as 2.9%, to $41.46 per barrel.</li><li><a href="https://markets.businessinsider.com/indices">Watch major indexes update live here</a>.</li></ul>US equities fluctuated on Tuesday investors continued to pivot away from growth stocks and bolstered bets on near-term economic recovery.<a href="https://www.businessinsider.com/pfizer-coronavirus-vaccine-success-plans-for-emergency-approval-fda-2020-9?utm_source=markets&amp;utm_medium=ingestgest">Pfizer and BioNTech's encouraging vaccine update</a>, which fueled a massive stock surge on Monday, continued to drive a shift out of expensive tech stocks and into plays more likely to outperform in an economic reopening.The tech-heavy Nasdaq composite slumped, while Dow Jones industrial average and the small-cap-focused Russell 2000 gained. Popular stay-at-home plays including <a href="https://markets.businessinsider.com/stocks/nflx-stock">Netflix</a>, <a href="https://markets.businessinsider.com/stocks/zm-stock">Zoom</a>, and <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> continued to fall as investors bet on near-term vaccine distribution.Here's where US indexes stood at the 4 p.m. ET close on Tuesday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">S&amp;P 500</a>: 3,545.45, down 0.14%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Dow Jones industrial average</a>: 29,320.59, up 0.9% (262 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Nasdaq composite</a>: 11,553.86, down 1.37%</li></ul>Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-21-overlooked-covid-vaccine-beneficiaries-jefferies-2020-11?r=gr-sub">Buy these 21 overlooked stocks set for huge gains as the world's vaccine hopes just became a reality, Jefferies says</a>"With a viable vaccine apparently on the horizon, it may be time to take a second look at your portfolio," said Lindsey Bell, the chief investment strategist for Ally Invest. "Stocks that could benefit from a return to normal life — or the 'reopening trade' — could be worth watching over the coming weeks."The Dow and the <keyword id="123873" type="PERSON" weightage="60" keywordseo="SP-500">S&amp;P 500</keyword> <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-intraday-records-sp500-dow-pfizer-vaccine-2020-11-1029783434">leaped to record intraday highs</a> on Monday. Pfizer's update lifted investors' risk appetites and kicked off the week's rotation to cyclical names. Reopening trades such as airlines, cruises, and hotels <a href="https://markets.businessinsider.com/news/stocks/airline-cruise-stocks-pfizer-coronavirus-vaccine-progress-travel-industry-rebound-2020-11-1029782250">gained</a>. <a href="https://markets.businessinsider.com/news/stocks/gold-price-tumbles-pfizer-vaccine-risk-appetites-safe-haven-recovery-2020-11-1029783168">Gold tumbled the most in three months</a> as investors ditched safe-haven assets.<a href="https://markets.businessinsider.com/stocks/pfe-stock">Pfizer</a> and <a href="https://markets.businessinsider.com/stocks/bntx-stock">BioNTech</a> announced Monday that their experimental coronavirus vaccine was found to be more than 90% effective at preventing COVID-19 in a late-stage trial. The companies now plan to apply for emergency use authorization with the US Food and Drug Administration to expedite the rollout of their vaccine. The announcement suggests a breakthrough in the race to find a viable vaccine and spurred hope on Wall Street that the pandemic might be contained sooner than previously expected.Whether it could arrive soon enough to avoid additional economic damage is a different story. The US reached 10 million COVID-19 cases on Monday as infection rates spiked across the country. The Federal Reserve said in a Monday report that an inability to contain the outbreak <a href="https://markets.businessinsider.com/news/stocks/stock-market-asset-prices-pandemic-containment-recovery-federal-reserve-report-2020-11-1029786876">could tank asset prices across risk markets</a>.Read more: <a href="https://www.businessinsider.com/goldman-sachs-buy-stocks-to-benefit-from-these-four-trends-2020-11?r=gr-sub">Goldman Sachs combed through hundreds of earnings transcripts to arrive at the 4 themes S&amp;P 500 companies embraced this quarter — and shared the dozens of stocks set to benefit from these thematic trends</a>Beyond facing pressure from the broad market rotation, Amazon sank after the European Union unveiled formal antitrust charges against the e-commerce titan. The EU's top antitrust official alleged Amazon illegally abused its dominant position in Germany and France.<a href="https://markets.businessinsider.com/news/stocks/beyond-meat-stock-price-third-quarter-losses-mcdonalds-earnings-revenue-2020-11-1029787497">Beyond Meat cratered</a> after the firm reported an unexpected third-quarter loss and missed revenue estimates. Shares hit their lowest since May as Wall Street scrutinized the worse-than-expected results.<a href="https://markets.businessinsider.com/news/stocks/alibaba-stock-price-regulatory-pressure-overshadows-singles-day-blowout-2020-11-1029788690">Alibaba tumbled</a> as regulatory concerns overshadowed massive sales for the company's Singles Day event. <a href="https://www.wsj.com/articles/chinas-regulators-prepare-to-roll-out-new-antimonopoly-rules-11605013205">The Wall Street Journal</a> reported Tuesday that Chinese regulators released a new draft of antimonopoly rules that could drag on online platforms like Alibaba.<a href="https://markets.businessinsider.com/news/stocks/peloton-stock-price-multi-year-deal-beyonce-hbcu-homecoming-pton-2020-11-1029788742">Peloton erased early gains and traded higher</a> after the company inked a multi-year deal with Beyonce. The artist will produce several exclusive workout programs themed around homecoming, the annual fall celebration for students at historically Black colleges and universities.Read more: <a href="https://www.businessinsider.com/top-asset-managers-break-down-biggest-challenges-joe-biden-2020-11">Five top strategists at some of the largest asset managers break down the biggest challenges for Joe Biden's presidency and how to trade them</a><a href="https://markets.businessinsider.com/commodities/gold-price">Spot gold</a> climbed as much as 1.5%, to an intraday high of $1,890.53 per ounce. The US dollar fell slightly, and Treasury yields ticked higher.<a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> traded just below $15,300 after failing to break above $16,000 in its prolonged rally. The cryptocurrency's recent momentum has mostly stalled since it traded above $15,000.Oil prices continued to climb, retaking their $40-per-barrel support level. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti" target="_blank" rel="noopener">West Texas Intermediate crude</a> gained as much as 2.9%, to $41.46 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestarkets&amp;utm_medium=ingest" target="_blank" rel="noopener">Brent crude</a>, oil's international benchmark, jumped 3%, to $43.66 per barrel, at intraday highs.Now read more <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> coverage from Markets Insider and Business Insider:<a href="https://www.businessinsider.com/investing-tips-after-covid-vaccine-from-top-fund-managers-analysts-2020-11">8 world-class investors share how they've positioned to profit from the long-awaited COVID-19 vaccine breakthrough — and the bets they've been making all year on a post-pandemic world</a><a href="https://www.businessinsider.com/economic-outlook-covid-resurgence-quarterly-growth-recovery-dallas-fed-kaplan-2020-11">Spiking coronavirus cases could curb economic growth well into 2021, Dallas Fed President says</a><a href="https://www.businessinsider.com/job-openings-miss-estimates-unemployment-hiring-slows-jolts-labor-market-2020-11">US job openings climb slightly in September but miss expectations as labor-market recovery slows</a><a href="https://www.businessinsider.com/economic-outlook-gdp-recovery-biden-stimulus-coronavirus-vaccine-goldman-sachs-2020-11"></a>

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