European and Asian equity markets edged higher overnight with gains in value stocks and a rebound in tech. The US markets are poised to open cautiously higher. But volatility is expected to continue.
The oil price is higher, gold slightly up, and industrial metals firmer. Bitcoin is recovering.
The equity markets appear less fearful of the Omicron variant as early data suggests less severe outcomes and vaccines could be effective.
Geopolitical tensions are stirring between the US and China once again. This time the US has said it will boycott the Beijing winter Olympics and China threatens countermeasures.
Meanwhile, President Biden meets with Russian President Putin today to discuss tensions between Russia and Ukraine.
| NASDAQ | S&P 500 | BITCOIN |
|---|---|---|
| 15,225.15 (+0.93%) | 4,591.67 (+1.17%) | 51,457.20 (+8.71%) |
Here are some trending stocks:
Intel (NASDAQ: INTC) plans to spin off Mobileye to publicly list independently. The IPO could reportedly value the self-driving-car unit at over $50bn and may be announced this week.
Donald Trump's Digital World Acquisition Company (NYSE: DWAC) is under investigation. A video call from early April involving Digital World CEO Patrick Orlando, a friend of his who was subsequently named to Digital World's board, and some representatives of Donald Trump, will be used in the investigation. When DWAC filed on 26 May, it stated it wasn't speaking with any potential merger targets. But this call could contradict that as those present reportedly discussed a deal to finance Trump's plans to establish Trump Media & Technology Group.
The SEC is opening a probe into Tesla (NASDAQ: TSLA) relating to a whistleblower alleging solar panel defects. Meanwhile, Elon Musk has publicly noted he disagrees with government EV subsidies.
ARKK invests $107m in DocuSign (NASDAQ: DOCU) shares and continues to buy shares in Ginkgo Bioworks (NYSE: DNA) too.
Roku (NASDAQ: ROKU) opens Amsterdam office as it expands internationally.
UiPath (NYSE: PATH) will report earnings tomorrow. The robotic process automation firm has seen its revenues rise, but its share price has plummeted 40% since its IPO in April 2020. The company is not yet profitable, and competition is growing.
BNPL company Klarna collaborates with Marqeta (NASDAQ: MQ) to target European markets.
Reuters reports mixing Pfizer and AstraZeneca's COVID-19 vaccines with Moderna provides better immunity.
According to a Reuters report, Morgan Stanley analyst Tim Hsaio believes Xpeng's (NYSE: XPEV) stock will rise over the next 15-days because its short-term valuation has become "much more compelling" after a recent dip.
Equinix (NASDAQ: EQIX) is expanding into Africa as it acquires Nigeria's MainOne for $320m.
Equity news from Asia:
China's property developers are once again in focus as China Evergrande Group's (HKG: 3333) recent 30-day grace period comes to an end. The company plans a restructuring that includes its offshore public bonds and private debt obligations.
Meanwhile, residential property management company Kaisa Group (HKG: 1638) attempts to avoid a formal default on $400m notes due today.
Alibaba (NYSE: BABA) shares soared yesterday as fears of Chinese companies delisting in the US appeared overblown.
According to reports, the Chinese creation of a large, state-owned rare-earth entity should be established by the end of this month.
UK government ministers are reportedly monitoring the acquisition of Bacanora Lithium (LON: BCN) by Chinese battery company Ganfeng Lithium (SHE: 002460).
In Crypto:
Bitcoin rebounded back above $50k easing investor fears.
India is considering a Capital Markets Regulator for Crypto
Craig Wright, a computer scientist who claims to be the inventor of Bitcoin, yesterday won a dispute over $50bn in Bitcoin.
