10 things before the opening bell

A cloudy sky behind a brightly lit Apple logo in a Manhattan store
An Apple Store in Manhattan. Mike Segar/Reuters

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1. Stock futures are pointing to some recovery after yesterday’s sell-off. But with energy prices soaring, the impasse in DC over the debt ceiling and the Evergrande crisis simmering, nerves are frayed. Here’s what’s happening across the markets so far today.

2. Jamie Dimon says JPMorgan has started to prepare for the US to possibly default on its debt. He said the scenario could be “potentially catastrophic,” and hopes legislators find a way to solve the crisis. See the CEO’s full comments.

3. Big-name investors have turned to experts to navigate China’s complex landscape. Insider compiled a list of 10 top analysts whom portfolio and hedge fund managers are consulting to make calls on China. See the experts from firms like Muddy Waters and BCA Research.

4. Earnings on deck: Cintas Corp., Next PLC, and Jabil Circuit, all reporting.

5. Inflation concerns and surging Treasury yields are sinking Big Tech stocks. Microsoft, Facebook, Amazon, and Apple fell more than 3% during Tuesday trading. The Nasdaq was down nearly as much. Here’s how interest rates are impacting high-growth tech stocks.

6. Goldman Sachs cuts its China GDP forecast. Citing energy constraints and pressure to hit environmental goals, Goldman lowered its forecast for China from 8.2% to 7.8%. Get the rundown on the bank’s latest China report.

7. The family behind the $US238 ($AU329) billion Walmart fortune shared their stock picks. In newly released disclosures, the Waltons’ portfolio included a variety of stocks from Pinduoduo to Snowflake. See what was the family’s largest holding.

8. Coinbase has 29% upside, according to JMP. The firm said the digital asset exchange is the ‘flagbearer’ of the crypto economy. Here’s three reasons the stock will continue to outperform.

9. Top investor pioneer says value stocks could provide 10% returns per year for investors over the next decade. While he’s keen on value stocks, Rob Arnott of Research Affiliates doesn’t anticipate bonds and other stocks to offer much for investors. Here’s why he thinks there may never be a better chance to buy them than now.

10. Famed short seller Carson Block explained why he didn’t bet against Evergrande years ago. The Muddy Waters founder viewed the Chinese property giant as a “screwed up” company, but thought it had been given political protection, so he passed on it. Read his next predictions for US-listed Chinese stocks.


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Compiled by Phil Rosen. Feedback? Email [email protected] or tweet @philrosenn.

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