10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, AAPL, NFLX, HMNY)

Tim Cook Apple

Here is what you need to know. 

Trump is reportedly considering a massive tax cut that would benefit investorsPresident Donald Trump is considering tweaking the tax code to allow investors to index their capital gains to inflation, the New York Times reports. 

China’s economy is starting to sputterChina’s official manufacturing and non-manufacturing PMI data both missed expectations, but remained above the 50 level — indicating they are still expanding. 

The Bank of Japan tweaks policyJapan’s central bank on Tuesday introduced a forward guidance on policy rates, more flexibility in bond purchases, and tweaks to its stock ETF purchases, but none led to any substantial moves in Japanese markets.

Traders have never been more scared of a meltdown in tech stocksA measure called skew, or the premium options traders are paying to protect against a loss in the PowerShares QQQ Trust exchange-traded fund over the next month, relative to wagers on an increase, has spiked to its highest level on record.

Morgan Stanley says the stock market is heading for its biggest sell-off of the yearMichael Wilson, the bank’s chief equity strategist, says the market is trapped in a “rolling bear market” and offers some tips to protect your portfolio.

MoviePass holds an all-hands meeting to announce some big upcoming movies wont be available on the appAfter shares cratered below $1 apiece on Monday, MoviePass CEO Mitch Lowe held an all-hands meeting to announce the upcoming big releases “Christopher Robin” and “The Meg” would not be available to subscribers, a source familiar with the matter told Business Insider.

Netflix tumbles into a bear marketShares fell 5.7% on Monday and are now down 20.85% from their June high. 

Stock markets around the world trade mixed. Hong Kong’s Hang Seng (-0.52%) lagged in Asia and London’s FTSE (+0.18%) leads in Europe. The S&P 500 is set to open up 0.14% near 2,807.

Apple reports after the closing bellThe tech giant is expected to earn $2.16 a share on revenue of $52.31 billion, according to analysts surveyed by Bloomberg. Pfizer and Proctor & Gamble are among the other names reporting on Tuesday.

US economic keeps comingPersonal income and spending and PCE core prices will all be released at 8:30 a.m. ET before S&P home prices, Chicago PMI, and consumer confidence cross the wires at 9 a.m. ET, 9:45 a.m. ET, and 10 a.m. ET, respectively. The US 10-year yield is down 3 basis points at 2.95%.  

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Read the full article from it’s original source: http://uk.businessinsider.com/stock-market-news-opening-bell-july-31-2018-2018-7

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