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Here’s what you need to know before US markets open.
1. Global stocks inch up on Biden’s vast stimulus program, while bitcoin retreats from its record high above $US61,000 ($78,906). Growth optimism saw stocks rising on Monday.
2. India is set to propose a cryptocurrency ban, penalizing miners and traders. Bitcoin fell after a report said India could fine anyone in the country for even holding such digital assets.
3. Bitcoin surged to a record $US60 ($78),000 ($77,612) as stimulus hopes and big-name backers fuel demand. Although it’s now off its highs, bitcoin broke another major milestone at the weekend.
4. The $US166 ($215) billion of SPAC deals in the 1st quarter exceeds all of 2020. The remarkable boom in blank-check firms has powered ahead in 2021.
5. Three bitcoin-mining experts explain why concerns around the cryptocurrency’s massive energy consumption are overblown. Are cryptocurrencies a major danger to the environment? These experts don’t think so.
6. It’s a quiet day on the earnings calendar. Talanx and Ayala are on the list.
7. The data docket is also light. There are US Treasury bill auctions and the Empire State manufacturing index.
8. A top NFT artist who’s sold over $US60 ($78) million worth of crypto art breaks down how he’s capitalizing on the sudden boom. Beeple also shares how he positions his own portfolio.
9. Morgan Stanley says the market is ripe with stock-picking opportunities right now. The firm says to buy these 12 stocks before their unique catalysts help them beat the market.
10. A Norwegian billionaire who just set up a $US59 ($76) million unit to invest in the bitcoin ecosystem breaks down his 3-fold strategy. Kjell Inge Rokke also shares why he believes the digital currency is actually a solution to many of its perceived challenges.