5 things to know before the stock market opens Wednesday

SourceCNBC
SectorFinancial Markets
CountryMiddle east

Here are the most important news, trends and analysis that investors need to start their trading day: JPMorgan Chase CEO Jamie Dimon sees strong growth for the U.S. economy in the near term, thanks to the government's response to the coronavirus pandemic that has left many consumers flush with savings, according to his annual shareholder letter made public Wednesday. While calling stock market valuations "quite high," he said a multiyear boom may justify current levels, because markets are pricing in economic growth and excess savings making their ways into equities. While bullish on the economy's immediate future, Dimon said there are serious challenges ahead for the U.S., thanks to political and societal dysfunction. The night before the Archegos Capital story burst into public view late last month, the fund's biggest prime broker quietly unloaded some of its risky positions, people with knowledge of the trades told CNBC.

Morgan Stanley sold about $5 billion in shares from Archegos' doomed bets on U.S. media...read more...