Here’s what you need to know before markets open.
1. An influential investor group demands the world’s largest polluters execute strategies for ‘net-zero’ carbon by 2050. A group representing investors that manage assets worth more than $47 trillion has demanded the world’s largest polluters to execute carbon-neutral business strategies earlier than or by 2050.
2. Apple and Tesla have been trading off ‘a weird game theory’, says money manager Jeff Mills, who thinks tech stocks have further to fall. Apple and Tesla stock prices are trading off a ‘weird game theory’ despite their recent stock splits, a top money manager said.
3. ‘The psychology is even more dangerous than 20 years ago’: A Wall Street investment chief says stock valuations are giving him dot-com bubble flashbacks – and warns of a major meltdown in the next year. Cast your mind back to the days in March when stocks were in freefall and everything around you, from the NBA to weekend plans, was suddenly postponed indefinitely.
4.Buy these 17 ‘superstar’ stocks poised to soar as they use AI technology to drive market-beating growth, UBS says. Paul Winter of UBS’ quantitative research team says that as new technologies like machine learning, natural language processing, and computer vision transform businesses, the biggest and richest companies are reaping more benefits than anyone else. That puts them in a class by themselves.
5. MORGAN STANLEY: A largely overlooked policy shift by the Fed is setting up investors’ favorite stocks for a major disruption. Here’s how to prepare your portfolio before it occurs. Over the past decade, inflation in the US has hovered below the Federal Reserve’s annual target rate of 2%.
6. It looks like TikTok isn’t selling off its US operations at all. Now, its US future hangs on whether Trump walks back his threat to ban the app. TikTok won’t sell its US business after all, a report suggests – meaning it will have to convince President Donald Trump to walk back an executive order demanding its sale to a US company by November 12.
7. Tesla investors should be watching for M&A for S&P inclusion.Tesla Inc investors were disappointed after the company was snubbed in the S&P 500’s latest round of inclusions, but the electric automaker’s entry could still happen at any time and a merger by others in the benchmark index might help.
8. Global stocks are mixed. European stocks are down a little, Asian stocks closed up. US futures underlying the Dow 30, S&P 500 and the Nasdaq are up 0.9%, 1.1% and 1.6% respectively.
9. Earnings coming in. Lennar Corp Q3 2020 and System D Q3 20 earnings are coming in.
10. On the economic front. US 3-Month Bill Auction and 6-Month Bill Auction are due.
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