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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. Global stocks edge higher but tech stocks are under fire. See how markets are reacting to COVID-19 vaccine optimism.
2. Pfizer's CEO cashed out 60% of his stock on the same day the drugmaker unveiled the results of its COVID-19 vaccine trial. His stock sale was part of a predetermined trading plan, a filing showed.
3. Bill Ackman is hedging the pandemic against corporate defaults again after news of a promising COVID-19 vaccine. He turned a $27 million position into a $2.6 billion windfall on a similar bet in the spring.
4. Ray Dalio believes Ant's IPO suspension was reasonable as there may be a risk of being too flexible on innovation. He also said not investing in China is "very risky."
5. Any pullbacks in stocks are buying opportunities as the S&P 500 sets its eyes on marching 13% to 4,000 by early 2021, according to Fundstrat.
6. Earnings expected. Tencent Holdings, Automatic Data Processing, and Toshiba are highlights.
7. On the data docket. MBA mortgage applications and the American Petroleum Institute's weekly crude oil stock are due.
8. The 4 themes that defined corporate earnings season. Goldman Sachs shares the dozens of stocks set to benefit from the budding trends.
9. Positioning your portfolio ahead of a vaccine breakthrough. 8 world-class investors share the bets they've been making in preparation.
10. The vaccine-linked stocks investors are still sleeping on. Jefferies recently highlighted 21 unappreciated ones they see spring-loaded for big future gains.
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