Welcome to 10 Things Before the Opening Bell.
Let’s jump in.
1. Global shares are in the red, after US stocks posted their worst monthly drop since March 2020. Inflation, rising bond yields and the simmering Evergrande crisis are roiling the markets. Take a look at what’s happening today.
2. JPMorgan sees upside in Dollar Tree as the company raises prices above $US1 ($AU1). The discount retailer announced it would raise prices above its eponymous $US1 ($AU1) mark, citing inflation and other reasons. Analysts view the move as a positive in the long run – here are four reasons why.
3. Is the Chinese real estate market going bust? Goldman Sachs says watch these four metrics. The firm recommends monitoring land-investment sentiment and refinancing trends. See Goldman’s full list of indicators.
4. On the docket: Daiseki Co, J D Wetherspoon, and Cal-Maine Foods, all reporting.
5. Global IPO activity broke a 20-year record in the 3rd quarter. Companies rushed to raise capital before the Fed could taper asset purchases, with a total of 547 IPOs and $US106.3 ($AU147) billion raised in Q3. One key driver spurred the IPO boom.
6. #CitadelScandal is trending on Twitter. Retail traders expressed renewed outrage over Robinhood’s meme-stock trading restrictions, as a new lawsuit filed alleges Citadel Securities and Robinhood were in contact ahead of the infamous trading halt. Here’s what you need to know.
7. ‘Big Short’ investor Michael Burry said the Fed lost all credibility following its trading scandal. In addition to evidence of Fed officials trading millions of dollars’ worth of Tesla, he cited the central bank’s mismanagement of the global financial crisis and its 2019 interest rate cuts. Plus, the legendary investor deleted his Twitter (again).
8. Bed, Bath & Beyond shares plunged. Second-quarter sales missed expectations, and the retailer cut its yearly sales outlook as COVID-19 concerns hit foot traffic in stores. This marks the latest sign of the Delta variant’s impact on retailers.
9. Surging oil prices and energy shortages reveal challenges in going green. Switching to climate-conscious sources presents obstacles, although the supply-side disruptions have led to a big oil rally. UBS shared how to invest in the energy sector to capitalize on the trend.
10. A 30-year investing veteran breaks down a SPAC strategy that you can use for steady, tax-friendly returns. David Sherman launched a SPAC strategy that aims to provide low-risk returns similar to those produced by a fixed-income strategy. Here’s why he’s betting on the beaten-down asset class now.
Insider is publishing new crossword puzzles every morning through October 8. Solve today’s crossword here.
Sign up for more Insider newsletters here.