#bumble | #tinder | #pof 10 things you need to know before the opening bell


Richard Drew/AP Photo

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. Dating app Bumble is preparing for an IPO worth between $6 billion and $8 billion. Bumble, the location-based dating and networking app that allows women to make the first move, is prepared to go public as soon as early 2021, according to a Bloomberg report.

2. Hong Kong’s richest man holds an $11 billion stake in Zoom that makes up one-third of his total wealth. Hong Kong’s richest man, Li Ka-shing, currently holds an $11 billion stake in video-conferencing app Zoom Video Communications that makes up one-third of his wealth, according to Bloomberg.

3. Investors are bracing for choppy markets, but volatility typically falls before elections, one strategist says. The upcoming US election has been cited as a key factor causing volatility for markets this month, but one strategist says that September will be calmer than many investors expect. 

4. Why Warren Buffett’s Berkshire Hathaway has a $7 billion bet on 5 Japanese stocks. Warren Buffett’s Berkshire Hathaway recently disclosed that it owns 5% of each of Japan’s five biggest trading companies or “sogo shosha”: Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo. The positions, which Berkshire built over the past 12 months, were worth a combined $6.9 billion as of Wednesday’s close.

5. GOLDMAN SACHS: Female portfolio managers are outperforming their male counterparts so far in 2020. These are the 25 stocks they own the most compared to men. So far this year, female portfolio managers are outperforming their male counterparts, according to a note from Goldman Sachs.

6. David Baron’s fund has returned 93% to investors in the last 12 months thanks to a Tesla bet 5 years ago. He told us why he thinks the electric-car behemoth has much further to run, despite its huge rally. For years, Tesla stock didn’t do much except spin its wheels.

7. Apple, Amazon, and and Google hike their developer and ad client fees to pass on the costs of paying new digital taxes in Europe. Amazon, Apple, and Google will pass on the costs of new European taxes on their revenues to smaller developers and clients.

8. Stocks are mostly up. European stocks are sharply up between 1.8% and 2.3%. Asian stocks closed slightly down. Futures underlying the Dow 30, S&P 500, and Nasdaq 100 are pointing to an increase between 0.6% and 1%. 

9. Earnings coming in. CrowdStrike Q2 2021 and Copart Q4 2020 earnings are due. 

10. On the economic front.   EIA crude oil stocks change, the Fed’s Beige Book and speeches from FOMC members  Mester and Kashkari are due. 

Source link
.  .  .  .  .  .  . .  .  .  .  .  .  .  .  .  .   .   .   .    .    .   .   .   .   .   .  .   .   .   .  .  .   .  .