Welcome to 10 Things Before the Opening Bell.
Let’s jump in.
1. US fututes are inching up after the softer inflation reading. Oil is rallying again after a draw in inventory levels. Take a look at what’s gone on so far today.
2. Steve Cohen has agreed to back a new crypto quant-trading firm. Radkl will be receiving funding from Cohen himself, rather than his hedge fund Point72, according to the WSJ. Here’s why the billionaire is pouring money into the digital asset space.
3. A math teacher earned an extra $114,000 trading stocks in 2020. Steve Chen used a low-risk investing strategy as a way to supplement his income, and was recently able to quit his job. Read about the four pillars of his trading approach.
4. On the docket: Inditex S.A., Darktrace PLC, and Weber, all reporting.
5. Cathie Wood predicts bitcoin will hit $500,000. The Ark Invest CEO also said the firm’s confidence in ether has gone up dramatically, and voiced praise for Elon Musk. Here’s how Wood plans to structure her firm’s crypto portfolio.
6. The S&P 500 may get a 10% correction in the near-term, says Morgan Stanley’s stock chief. Mike Wilson said the index’s relentless 2021 surge may be misleading, and a weakness in the market may reveal itself soon. See his full comments here.
7. The SEC may prohibit trading of 270 Chinese companies by 2024. Per an op-ed by Gary Gensler, the SEC will do so unless overseas companies open their books for auditing. Read what else the SEC chairman’s said on China.
8. A small pharmaceutical company jumped 137% in two days after positive results in lung disease trials. aTyr Pharma reported a positive clinical trial for early-stage pulmonary sarcoidosis, causing stock shares to spike. Here’s the latest on the upstart pharma company’s rally.
9. Top crypto experts from the SALT NY conference talk shop: Four of the most influential crypto strategists — including Sam Bankman-Fried, founder of FTX and Alameda Research — addressed how crypto opens up immense opportunities. Here’s what the pros have their eyes on now — and where they predict the industry is heading.
10. This tech fund has returned 1,876% to investors over 24 years. Ryan Jacob’s firm, Jacob Asset Management, has beat out the S&P 500 by more than triple. Here are the five stocks Jacob expects to lead his portfolio into the future.
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