10 things you need to know before the opening bell

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10 Things Before the Opening Bell
 
 

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Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.

Here's what you need to know before markets open.

1. Chinese stocks plunge and lead global markets lower as investors weigh escalating US-China tensions running beyond 'mere tariffs'. Chinese mainland stocks dived almost 4%, while equities in Europe were 2% lower during morning trade.

2. The worst of Europe's coronavirus recession appears to be over, according to a set of widely-watched business surveys. Output across the euro area grew at the fastest rate in over two years as economies reopened, IHS Markit's chief economist commented.

3. Goldman Sachs has agreed a $3.9 billion settlement with Malaysia over the 1MDB scandal. The investment bank was involved in the scandal when it helped the wealth fund secure $6.5 billion of financing through bonds.

4. Famed short-seller Jim Chanos reportedly made $100 million betting against collapsed fintech Wirecard. "If you're a fundamental short-seller, the Wirecard story was a classic," Chanos told the Financial Times.

5. More than 1,000 Twitter employees and contractors had access to the internal tool that was core to its giant hack. Twitter is working with the FBI to establish exactly what happened.

6. An Andreessen Horowitz partner explains 3 big cybersecurity trends that are winning out because of COVID-19 — and the hardest part about starting a new company during the crisis. Martin Casado said remote work, VPNs, and identity security were positioned to succeed during and after COVID-19.

7. Buy these 19 cheap healthcare stocks poised to beat the market regardless of election outcome and the fate of Obamacare, BTIG says. BTIG recommends a bunch of stocks ideally positioned to crush the market, regardless of who wins the 2020 presidential election.

8. Bernstein says buy these 13 dividend-rich stocks built to capitalize on a trend not seen in 65 years. Dividend yields from stocks exceed bond yields by the most since 1955 — and Bernstein has picked out the highest-quality names out there.

9. Earnings keep coming. Verizon, NextEra Energy, American Express, and Schlumberger are highlights.

10. On the data docket. The IHS Markit US Purchasing Managers' Index and new US home sales are due today.

 
 
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