10 things you need to know before the opening bell
Brendan McDermid/Reuters
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Here's what you need to know before markets open.
1. US futures edge up but Biden's tax proposals dent investor sentiment and hit cryptocurrencies. Investors are nervous about potential tax hikes.
2. Bitcoin slides below $50,000 with $260 billion wiped off the crypto market as Biden's tax proposals crush risk appetite. Cryptocurrency investors could be hit by the tax plans, knocking sentiment.
3. Robinhood appoints insider Christine Brown to oversee its crypto operations after the team tripled in size this year. She will run the company's crypto division after the unit's expansion.
4. Congress likely to cap Joe Biden's capital gains tax hike at around 28%, Goldman Sachs says. Razor-thin margins in Congress should lead to compromise, the bank said.
5. Solar stocks soar after Biden unveils plan to cut carbon emissions in half by 2030. The industry cheered Biden's plans, which were unveiled on Earth Day.
6. Earnings expected. American Express and M3 cap off a busy earnings week.
7. On the data docket. New home sales figures and purchasing managers' index data is due.
8. UBS has its eye on clothing companies poised to beat the market as the economic reopening continues. The firm says to buy these 13 stocks set to profit for yours from the return to retail.
9. The manager of a small-cap fund with a 5-star Morningstar rating breaks down his 4 criteria for identifying opportunities. Steve Scruggs also shares 3 of his highest-conviction stock picks right now amid soaring valuations.
10. Tom Hancock has beaten 99% of his peers over the past 10 years. The computer scientist-turned investor breaks down his 3-part strategy and shares 4 quality stocks to buy.
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