ADVERTISEMENT

10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, QCOM, AVGO, GOOGL)

This is what traders are talking about.

Here is what you need to know.

ADVERTISEMENT

The stock market sell-off isn't over yet. The Dow Jones industrial average is set to open lower by 220 points, or 0.84%. The selling comes after Japan's Nikkei (-2.56%) was hit hard in Asia and as Britain's FTSE (-1.28%) leads the losses in Europe.

Markets are stretched across the board; and one wrong step could set off a vicious chain reaction. Asset classes around the world are trading in close lockstep, which poses a big risk because one minor dislocation could cause a painful chain reaction, Deutsche Bank says.

The Eagles' Super Bowl win could be good news for stocks. The S&P 500 has gained an average of 5.1% for the calendar year when the Patriots lose the Super Bowl versus a 1.5% gain when they win, according to LPL Financial data.

ADVERTISEMENT

Yellen is disappointed she didn't get a 2nd term. Former Federal Reserve Chair Janet Yellen told CBS' "Sunday Morning" that she was saddened to not receive a second term but that the new Fed chairman, Jerome Powell, was "a very thoughtful policymaker."

Bitcoin is back below $8,000. The cryptocurrency was down 6.45% at $7,670 a coin as of 6:24 a.m. ET, trading at its lowest level since the middle of November.

The US marijuana industry is growing insanely fast. The total number of job postings for the marijuana industry increased 445% in 2017, according to the job-search website ZipRecruiter, and there are now more people working in the industry than there are dental hygienists in the US.

Broadcom is getting ready to raise its bid for Qualcomm. Broadcom is expected to raise its bid for Qualcomm to about $120 billion from $103 billion, Reuters says, citing people familiar with the matter.

Uber and Waymo are headed to court. Uber will go to court Monday against Waymo, a self-driving car unit owned by Google's parent company, over allegations Uber stole "trade secrets" relating to self-driving-car technology.

ADVERTISEMENT

Earnings reports keep coming. Bristol-Myers Squibb and Sysco report ahead of the opening bell, while Skyworks releases its quarterly results after markets close.

US economic data is light. Markit services PMI and ISM nonmanufacturing will be released at 9:45 a.m. ET and 10 a.m. ET respectively. The US 10-year yield is little changed near 2.85%, its highest since January 2014.

FOLLOW BUSINESS INSIDER AFRICA

Unblock notifications in browser settings.
ADVERTISEMENT

Recommended articles

How SafeHamsters unlocks the potential of crypto betting| Insider Tips

How SafeHamsters unlocks the potential of crypto betting| Insider Tips

A look into the diverse tax reforms being implemented across Africa

A look into the diverse tax reforms being implemented across Africa

Dubai firm to lend South Sudan $12.9 billion in exchange for 20 years oil repayment

Dubai firm to lend South Sudan $12.9 billion in exchange for 20 years oil repayment

China dethrones USA as the most influential global power in Africa: Report

China dethrones USA as the most influential global power in Africa: Report

Major African economies expecting inflation ease into next year, except Nigeria

Major African economies expecting inflation ease into next year, except Nigeria

10 African countries with the lowest price changes in household commodities

10 African countries with the lowest price changes in household commodities

Dangote refinery outranks Europe's 10 largest refining facilities

Dangote refinery outranks Europe's 10 largest refining facilities

Africa may just have the lowest level of cyber threats compared to other regions

Africa may just have the lowest level of cyber threats compared to other regions

A look into Kenya’s Shs1.1 billion climate funding from the UK

A look into Kenya’s Shs1.1 billion climate funding from the UK

ADVERTISEMENT