10 things you need to know before the opening bell

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Brendan McDermid/Reuters

Here’s what you need to know before markets open.

1.Global stocks rise as investors digest the ECB’s huge new stimulus package and await US jobs data. Oil prices rose as the OPEC+ may end up meeting as soon as today after Thursday’s meeting got cancelled over compliance issues. 

2.Investors pumped $22.5 billion into US bond funds in a single week — the highest amount since 2007. Bond markets seem to be attracting investors despite carrying higher risk compared to the safe haven money markets.

3.An investment adviser with historic ties to Warren Buffett likely scored a $900 million gain on Wayfair stock in less than 10 weeks. The manager of the Sequoia Fund, which was founded at Buffett’s request in 1970, doubled down on the e-commerce giant last quarter.

4.The Trump campaign cries censorship after Twitter removes a video about George Floyd on copyright grounds. Last year Twitter took down a meme of Trump’s attacking Joe Biden because it used a clip from Nickelback’s “Photograph.”

5.LinkedIn CEO apologizes after an internal meeting about racial inequality and bias was hit with ‘appalling’ comments from anonymous employees. LinkedIn released a report last year showing just 3.5 percent of its workforce was Black.

6.British Airways parent company considering legal challenge to UK quarantine rules. “We think it is irrational, we think it is disproportionate, and we are giving consideration to a legal challenge to this legislation,” said Willie Walsh, IAG’s CEO.

7.China says forcing Chinese firms off U.S. exchanges will harm U.S.A foreign ministry spokesman said forcing Chinese firms to retreat from U.S. stock exchanges would severely harm U.S. interests.

8.Singapore plans a coronavirus contact tracing device for all to wear. The country plans to soon launch a wearable device that, if successful, will be distributed to all of its 5.7 million residents.

9.Global stocks are up. In Europe, Germany’s DAX rose 1.4%, Britain’s FTSE 100 rose 1%, and the Euro Stoxx 50 rose 1.6%. In Asia, China’s Shanghai Composite rose 0.4%, Hong Kong’s Hang Seng rose 1.6%, and Japan’s Nikkei rose 0.7% at the close. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the Nasdaq rose fell between 0.2% and 1%.

10.Economic data releases today. US Non-farm payrolls, Unemployment Rate, Baker Hughes US Oil Rig Count, and Consumer Credit Change are due for release.

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