Here’s what you need to know before markets open.
1. Gold skyrockets to an all-time high as US-China tensions flare. Market analysts think gold could hit $2,000 as early as this week.
2. Billionaire investor Ray Dalio warns a developing ‘capital war’ between the US and China could tank the dollar and wreak havoc with the US economy. “There’s a trade war, there’s a technology war, there is a geopolitical war and there could be a capital war,” he said on Fox Business.
3. Warren Buffett may not be the ‘kindly grandfather’ figure he presents to the public, Elon Musk says. The billionaire investor and Berkshire Hathaway chief’s benevolent public image might be “overstating the case,” the Tesla boss said.
4. Amazon broadens its search for part-time delivery drivers in India, who are paid less than $2 an hour. Drivers who sign up for the Amazon Flex program can be a part of the company’s delivery force in India, earning between $1.61 and $1.87 an hour.
5. Goldman Sachs says stocks have never been more vulnerable to the failure of a few mega-companies — and the risks of a blunder are quickly piling up. The stock market’s gains have been largely driven by five tech stocks — and one misstep by any of them could send the market reeling.
6. Jefferies is telling investors to buy these 13 cheap, under-the-radar stocks in order to bet on an economic recovery. These lesser-known companies look cheap and should benefit from improving earnings and a stronger US economy, Jefferies says.
7. Trump’s top advisers are still pointing to signs of a ‘V-shaped’ economic recovery despite surging coronavirus cases. A top economic adviser said hot-spot states will only “moderate” the recovery and the overall picture is “very positive.”
8. European and US stocks are up, but only a little. In Europe, Germany’s DAX rose 0.2%, Britain’s FTSE 100 rose 0.3% and the Euro Stoxx 50 was about flat. In Asia, China’s Shanghai Composite rose 0.3%, Hong Kong’s Hang Seng fell 0.4%, and Japan’s Nikkei fell 0.2% at the close. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the Nasdaq rose between 0.3% and 0.9%.
9. Earnings expected today. LVMH, Ryanair, and Hasbro are highlights.
10. On the data docket. The 3-month and 6-month bill auctions are due.