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Welcome to 10 Things Before the Opening Bell.
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1. US futures have got a boost today from a set of blockbuster tech earnings. The S&P 500 is now less than 1% below its record high of 4,393. Shares in Snap and Twitter are on the move.
2. Warren Buffett's Berkshire Hathaway sold Kirby after owning it for 35 years. At one point, the company generated 5% of the firm's profits — Buffett ranked it as one of his best businesses. "If you want the best, you buy a Kirby," said Buffett.
3. Space is a growth industry — UBS thinks it can be worth $900 billion by 2030. Now that we know commercial space flight is viable, space tourism is set to take off. UBS gave their top 7 stock picks for investors with their eyes on the skies.
4. Earnings on deck: American Express, Honeywell, and Schlumberger all reporting.
5. SEC Chairman warns that more regulation is coming for stablecoins and tokens. Stablecoin issuers will soon have to register with the regulator, and must abide by any new rule changes. This is part of the larger effort to clamp down on the crypto market and prevent illicit activities.
6. JPMorgan is looking for signs that more institutions adopt bitcoin to bring it out of a bear market. The downturn is showing no signs of slowing, but the price could tick back up once bitcoin stabilizes back to 50% of the total cryptocurrency market — It's currently sitting at 46%.
7. Lumber prices spike as wildfires blaze. Recent fires have sparked worry up and down the supply chain, and one of North America's largest lumber producers said it would cut output. Lumber is still more than 62% below the record-high reached in May.
8. Elon Musk, the world's second richest person, drove up his net worth with five key investments. The Tesla CEO is worth over $160 billion, though Musk is only invested in a single public company. Other than Dogecoin and Ethereum, these are his biggest investments.
9. Howard Marks, a legendary investing veteran, says we're in a key stage of the bull market. The billionaire, known as somewhat of a philosopher king in the investing world, says people today think 'everything will get better forever.' To get a leg up on the market, according to Marks, investors should study psychology.
10. From a single duplex to 3,300 units: The founder of a real estate investing firm started his journey when he was 24, moving from small fixer-uppers to 100-unit complexes. He recommends jumping in and doing a deal to get the ball rolling — "Activity begets activity."
Compiled by Phil Rosen. Feedback? Email prosen@insider.com or tweet @philrosenn.
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