Summary List Placement
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Here’s what you need to know before markets open.
1. Global stocks stabilize ahead of European Central Bank meeting despite a steep rise in COVID-19 cases in Asia. US futures flatlined after a broadly positive session in Asia.
2. Credit Suisse posts Q1 loss of $275 million after Archegos blowup and says it expects more pain from the fund’s implosion. The Archegos collapse offset what otherwise would have been a strong quarter.
3. Dogecoin slides 36% from all-time high as blockbuster rally runs out of steam. The meme cryptocurrency’s astonishing climb appeared to be coming to an end.
4. A new market in ‘carbon offsets’ is blossoming, drawing huge companies who pay timber owners not to cut down trees. Companies like Microsoft Corp and Royal Dutch Shell are getting involved, a report said.
5. Bitcoin could plunge 50% from current levels after rising too much, too fast, says Guggenheim’s Scott Minerd. He said bitcoin could fall as low as $20,000.
6. Earnings expected. Intel and AT&T report as Q1 earnings season continues.
7. On the data docket. The ECB sets interest rates and US initial jobless claims data is released.
8. A crypto wallet founder breaks down how he almost became a ‘Doge millionaire.’ JP Richardson also describes how he secured $60 million within 5 days from investors wanting to back tokenized shares.
9. SPAC issuance is down 90% from March as retail interest disappears. A SPAC arbitrage investor breaks down why that means opportunity for enterprising investors — and shares 3 top picks on his radar.
10. Morgan Stanley says the scorching-hot economic recovery is entering its …read more
Source:: Business Insider