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Welcome to 10 Things Before the Opening Bell.
Let's get into it.
1. Bitcoin has surged by 15% to a six-week high above $38,000. Comments by influential investors and the prospect of one of the world's largest companies maybe accepting payment in bitcoin by the end of this year are fueling gains. Take a look at what's happening in crypto today.
2. More people own Bitcoin than ever before – and yes, 60% still say it's high-risk. Bitcoin ownership has tripled in the US since 2018 but that doesn't mean it's volatility has gone down. Buyers are mainly young and male, while older adults and women stayed away.
3. The tech, media, and telecom sectors account for many of the market's top growth stocks. Morgan Stanley is looking outside that space for hidden gems still poised to offer years of solid sales and profit growth. Here are the 26 they're recommending.
4. On the docket: Tesla, Hasbro, and Bank of Hawaii all reporting.
5. Bank of America says Twitter could surge by 30%. Analysts predict that the social media platform's expansion of ad spending will be good for its stock price. Read why the bank has an optimistic outlook for Twitter.
6. Didi has dropped 52% since its US IPO. The company is now worth less than $40 billion – $70 billion was their planned valuation not long ago. This follows other companies that have been hit hard by China's enveloping security probe.
7. Amazon is looking to hire a new lead for its digital currency and blockchain initiatives. The candidate must have expertise in distributed leger, blockchain and more – see what other qualifications Amazon wants for the job.
8. The Nasdaq could jump 10% with investors fleeing Chinese tech. Big money could be pouring into US stocks in light of Beijing's regulatory crackdowns, according to Wedbush. The market surge could happen by year-end.
9. The US debt ceiling suspension expires next week. 5 experts break down what's at stake – and whether markets will face 'catastrophic' consequences if a deal isn't struck.
10. An expert's guide to how to mine bitcoin. The founder of a mining farm breaks down the costs of electricity and equipment, how to pool, and the profits he earns in the process.
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