Good morning and welcome to your weekday morning roundup of the top stories you need to know.
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What's going on today:
- US futures point to stock market rebound after biggest drop since May, but global energy crunch fans fears of inflation. US stocks looked set to climb at the open, but an energy crunch, the US debt ceiling, and China's Evergrande gave investors plenty to think about.
- The wonders of Weibo. Chinese stock market influencers are helping to quell Evergrande-related protests by pushing positive messages about the company's future. An expert told Insider that these messages might be helping to pacify smaller investors who are less in-the-know about Evergrande.
- Prank problems. A prominent anti-vaxxer gave out his phone number at a rally claiming "he has nothing to hide." Two days later, he's begging people to stop calling him. Chris Saccoccia, known by the pseudonym Chris Sky, said he's received thousands of calls since giving his phone number out at the rally.
- Musk goes nuclear. Elon Musk says he's "pro-nuclear" power and is "surprised by some of the public sentiment" against it. Musk pointed to Germany's nuclear power plant phase out, which forced the country to rely on dirtier coal plants.
- Soccer flop. Beleaguered real-estate giant Evergrande's $1.8 billion lotus-shaped soccer stadium is partially built and in shambles amid the company's impending collapse. The stadium was touted in its 2020 groundbreaking ceremony to have a seating capacity of 100,000, to rival FC Barcelona's Camp Nou.
- Workin' in the 'coin mines. The CEO of Compass Mining breaks down why bitcoin is 'incredibly profitable' to mine right now - and shares how retail investors can mine the largest cryptocurrency at home. "You really only have four inputs. You've got the cost of your hardware, your monthly expenses, your cost of power, and the price of bitcoin, that's it," CEO Whit Gibbs explained. "If you can line those four metrics up properly, then the economics will work for you."
- That's all for now. See you tomorrow.
Read the original article on Business Insider