10 things you need to know before the opening bellNovember 16, 2020
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Here’s what you need to know before markets open.
1. Global stocks rise on further COVID-19 vaccine positivity and strong China factory data. Investors are awaiting results from Moderna, AstraZeneca, and Janssen. See how markets are reacting.
2. China’s factory production grew by more than expected. Factory activity in October shows the world’s second-biggest economy is gradually recovering from the COVID-19 pandemic.
3. Seth Klarman revealed a $400 million bet on Bill Ackman’s SPAC. The billionaire has been touted as “the next Warren Buffett” because he also follows a value-investing approach.
4. Saudi Aramco plans to raise billions by issuing international bonds. The world’s largest oil company said it would issue dollar-denominated bonds of varying maturities.
5. PNC to acquire US arm of Spain’s BBVA for $12 billion. The deal is among the largest mergers in the banking space since the financial crisis.
6. Earnings expected. Vodafone, Tyson Foods, and Palo Alto Networks are highlights.
7. On the data docket. The US 3-month and 6-month bill auctions are due.
8. Billionaire Bond King Jeff Gundlach says stocks are entering the difficult final stages of their cycle. And warns the market will ‘crack pretty hard’ in the near future.
9. Goldman Sachs’ top 10 themes to drive markets next year. The firm outlines where to invest your money according to each.
10. Expectations for some stocks are too low heading into 2021. Goldman Sachs details 20 deeply underpriced stocks to buy now.
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