10 things before the opening bell

Michael Burry with Elon Musk
Michael Burry and Elon Musk

Welcome to 10 Things Before the Opening Bell.

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Let's jump in.

1. Global stocks pull back as wary investors eye the Delta variant and unrest in Afghanistan. Fed's Rosengren says a strong jobs report could spell a September taper move, and China cracks the tech regulation whip again. Dig into the latest numbers on the markets.

2. 'Big Short' investor is shorting Cathie Wood's innovation ETF. Michael Burry, who bought puts on the ARKK ETF totaling about $31 million, is one of many to bet against Wood's fund. Burry is also raising his bet against Tesla - see the size of his wager against Elon Musk.

3. 5 meme stocks that could get squeezed higher this week: Data provider FinTel identified five heavily shorted stocks, including Support.com and ultrasound device maker NanoVibronix. See which stocks are primed for the Reddit treatment.

4. Earnings on deck: Walmart, Home Depot, and Agilent Technologies all reporting. Plus, Walmart looks to hire someone to lead its crypto development and strategy.

5. The rise in stock buybacks will push the S&P 500 to 4,700 within months, according to Goldman Sachs. The firm expects the index to rise to about 4,700 by year's end thanks to an anticipated $720 billion worth of stock buybacks. The pandemic limited the practice during 2020 - see how the numbers shake out here.

6. Tesla's under investigation for Autopilot crashes. The stock fell Monday after reports emerged about the US's auto-safety regulator inquiry into the EV company. So far, 11 Tesla crashes have been identified.

7. Dogecoin has surged 100% over the past month. Dogecoin investors are no strangers to price spikes - the most recent being driven by Elon Musk and Mark Cuban's bullish takes on the currency. The crypto's continued climb has outpaced other, larger coins like bitcoin and ether - plus it's part of the greater cryptocurrency market rally.

8. The Mormon Church's secret $100 billion fund just cashed out on GameStop. After buying 46,000 shares of the video-game retailer, the Church's position skyrocketed by 900% to over $8.7 million. Read the full breakdown of the secret Mormon investment portfolio - including how much they've cut down their bet on Tesla.

9. Sonos spiked after the ITC ruled Google's Alphabet infringed on multiple patents. Sonos had alleged that Google stole speaker tech from them and incorporated it into Google phones and laptops. After the ITC's ruling, Sonos' 11% stock surge could be just the beginning - see why they could be set for another jump.

10. The stock market could plummet by more than 16%, says Bank of America. Historically high valuations and slowing earnings growth puts the market at risk. Here are three sectors that can weather the dip.

Compiled by Phil Rosen. Feedback? Email [email protected] or tweet @philrosenn.

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