10 things you need to know before the opening bell

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

1. Global shares and commodities boosted by Biden’s $2 trillion infrastructure plan. Joe Biden’s spending plans put Wall Street in a better mood after a rocky week.

2. The SPAC boom powered the strongest first quarter for dealmaking in 40 years – topping even the dotcom bubble of 2000. Ultra-low interest rates and surging stock markets have fueled M&A. 

3. Billionaire Mike Novogratz expects bitcoin to be bigger than gold, as big Wall Street players enter the crypto space. Novogratz said he is shocked by the pace of adoption.

4. US home prices are rising at their fastest in 15 years – and Goldman says they’ll surge another 7% this year. Goldman analysts said a “supply crunch” will keep driving up prices.

5. US SEC official warns SPAC dealmakers of the risks and complexities tied to blank-check mergers. Paul Munter said investors should carefully consider whether target firms are ready to go public.

6. Earnings expected. It’s a lighter day, with Deutsche Telekom and UK retailer Next reporting in Europe. 

7. On the data docket. Weekly jobless claims are the focus.

8. President Biden’s infrastructure plan presents opportunities for long-term investors. An analyst for the top-performing infrastructure ETF in the US this year shares 5 stocks set to benefit for years.

9. Investors betting on a speedy economic recovery may be in for a rude surprise. State Street’s global investing chief told us why, and named parts of the stock market she’s bullish on.

10. Secretive derivatives were the financial instruments behind the Archegos Capital blowup. An options expert shares a Buffett-inspired trade that investors can exploit.

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