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

1.Netflix tanks on earnings miss and disappointing subscriber-growth forecast. The video-streaming giant’s stock slumped as much as 8.5% in premarket trading even though it added 10 million subscribers last quarter.

2.Billionaire Ray Dalio warned that rising US-China tensions could escalate into a ‘shooting war’ – and drew comparisons with the years before WWII. In a LinkedIn series on the changing world order, Dalio wrote that an economic war is usually a pre-cursor to a “shooting war” in principle.

3. The world’s richest people poured billions into stocks at the start of the coronavirus crisis, but now they’re looking elsewhere to make their money. UBS says its ultra wealthy clients are moving out of stocks to invest in more illiquid areas. 

4. Twitter says 130 accounts were affected in the giant hack that wiped $1.3 billion off its market value. Its investigation suggests the hack was broader than just the Bitcoin scam.

5. JPMorgan says US stocks are staring down a double whammy of spiking COVID-19 cases and an uncertain election – but traders shouldn’t stay away entirely. Here are 3 strategies for those looking to stay invested. Digging into the equity part of John Normand’s thesis yields three recommendations.

6. Morgan Stanley’s wealth-management chief warns investors are misreading the biggest risks to markets right now – and shares 4 ways to maximize returns as earnings roll in. He spells out what investors should be doing instead.

7. Bill Miller’s record-setting fund beat the market for 15 straight years. He breaks down the trio of forces that has him bullish on stocks – and lays out a ‘home run’ trade he’s making right now. He shares a simple, no-frills trade idea to capitalize on the current environment.

8. US futures are slightly up. In Europe, Germany’s DAX rose 0.1%, Britain’s FTSE 100 rose 0.4%, and the Euro Stoxx 50 was about flat. In Asia, China’s Shanghai Composite rose 0.2%, Hong Kong’s Hang Seng rose 0.5%, and Japan’s Nikkei fell 0.3% at the close. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the Nasdaq rose between 0.3% and 0.9%.

9.Earnings today. BlackRock, Volvo, and Snap are highlights.

10. On the data docket. Housing starts change and CFTC Oil & Gold Net Positions are due.

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