10 things you need to know before the opening bell

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

1. Tesla jumps after Goldman Sachs upgrades its stock. The EV-maker’s rating was lifted to “buy” from “neutral” and its price target boosted to $780.

2. An $11 billion hedge fund scored a 52% gain this year. The tech-focused fund bet big on Tesla and against German fintech Wirecard. 

3. Merck sold its entire stake in Moderna. The biotech firm still holds indirect exposure to Moderna through investments in venture funds.

4. 4 reasons why the S&P 500 will soar 25% by the end of 2022. Goldman Sachs’ David Kostin said inflation will remain low, allowing companies to have a broader level of earnings growth while keeping costs down.

5. Global stocks are mostly flat. US futures were up about 0.2%, European stocks were down about 0.3%, and Asian stocks were up by as much as 0.7%.

6. Earnings expected. Toronto-Dominion Bank, DocuSign, Marvell Technology, Kroger, and Ulta Beauty are highlights.

7. Economic calendar. Continuing jobless claims, the EIA natural gas storage change, and a 4-week Treasury bill auction are due.

8. Digging into Warren Buffett’s recent portfolio moves. Value investor Adam Schwartz explains why Berkshire Hathaway slashed its JPMorgan and Wells Fargo stakes, and cheers its record buybacks.

9. The pros and cons of owning Zoom, which is up 497% this year. We asked 3 analysts – including one of Wall Street’s most accurate – for their advice as the economy reopens.

10. BlackRock is channeling more cash to high-momentum and relatively small stocks. These are the 20 companies they like the most as the economy recovers.

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