10 things you need to know before the opening bell

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10 Things Before the Opening Bell

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

1. Gold and silver get hit by hawkish Fed boost to dollar — which has reached its highest level since July. Oil came under renewed pressure "with rising COVID-19 cases in parts of Europe not great for sentiment, while a stronger US dollar is not helping."

2. Tesla share losses mount after $50 billion drop in market cap on Battery Day after Musk flags delay to cheaper cars. Elon Musk said he plans to build a cheaper car priced around $25,000, but signalled this would only be available in 2022.

3. Chevron asks staff worldwide to delete WeChat from their work phones, despite a judge blocking Trump's ban of the app. Any staff that don't delete the Chinese social media and chat app will have their access to Chevron's internal system revoked, it said.

4. US Investing Championship hopeful Tomas Claro hauled in a 409.1% return through August. Here's the unique trading strategy he's leveraging — and 3 stocks he's holding. Tomas Claro found his keys to success buried within Jack Schwager's classic "Market Wizards" series. Today he's pulling in triple-digit returns.

5. Morgan Stanley's US equities chief nailed his call for a short-term market meltdown. He now lays out the evidence that it may not end soon — and shares 15 stocks to buy ahead of the rebound. His team ran a stock screen to arrive at 61 stocks with earnings-driven upside, and 15 of them are also rated as overweight by Morgan Stanley analysts.

6. A fund manager who's returned 49% to investors this year with incredible market timing says the weakness in stocks is going to get worse. Michael Gayed is delivering huge returns based on his ability to read market signals, and he said falling lumber prices were a major warning sign.

7. The tech-heavy Nasdaq could plunge another 12% from current levels as a key support level is tested, says Morgan Stanley's investment chief. "Speculation needs to be wrung out before the bull market can continue," Morgan Stanley said in a note on Monday.

8. Global stocks are mostly up. Germany's DAX rose 1.5%, Britain's FTSE 100 rose 2.3% and the Euro Stoxx 50 rose 1.7%. In Asia, China's Shanghai Composite rose 0.2%, Hong Kong's Hang Seng rose 0.1%, while Japan's Nikkei fell 0.1%. In the US, futures on the Dow Jones, the S&P 500, and the US Tech 100 rose between 0.4% and 0.7%.

9. Earnings coming in. General Mills and Cintas Corp are highlights.

10. On the data docket. Federal Reserve chairman Jerome Powell and Cleveland Fed President Loretta Mester will testify. IHS Markit's Purchasing Managers' Indexes are due today.