5 things to know before the stock market opens Tuesday, July 20

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Here are the top news, trends and analysis that investors need to start their trading day:

1. The Dow is poised to rebound after Monday’s 725-point slide

Traders on the floor of the New York Stock Exchange.

Source: NYSE

Dow futures rebounded more than 200 points on Tuesday, a day after the 30-share average posted its worst session in eight months. To start the week, the Dow plunged 725 points, or more than 2%, as the spread of a variable delta triggered a sharp rise in Covid cases in the United States and around the world.

The 10-year Treasury yield fell early Tuesday, trading briefly below 1.17% and touching five-month lows before rallying. Lower yields, moving inversely to bond prices, have added some pressure to pre-market stock trading, reflecting growing concerns about whether the resurgence of the Covid virus will disrupt global economic growth.

2. Bitcoin drops below $30,000 for the first time in about a month

Illustrative image of the cryptocurrency bitcoin.

Jacob Borzeki | NurPhoto via Getty Images

Bitcoin dropped below $30,000 for the first time in nearly a month, dragging other cryptocurrencies down as well. Nearly $90 billion was wiped out of the entire cryptocurrency market within 24 hours as of 6:29 AM ET Tuesday, according to CoinMarketCap data. The world’s largest cryptocurrency hit an all-time high near $65,000 in April. Since then, bitcoin has fallen more than 50%. A renewed crackdown in China on cryptocurrency trading and mining has been among the factors that have weighed on crypto prices recently.

3. Blue Origin founder Jeff Bezos is ready to blast off into space

From left: Oliver Damon, Wally Funk, Jeff Bezos, Mark Bezos.

via jeffbezos on Instagram

Jeff Bezos’ Blue Origin is set to launch its first passenger space flight on Tuesday, carrying its billionaire founder, his brother, Mark, astronaut Wally Funk, and Dutch teenager Oliver Daemen. The launch, on the 52nd anniversary of the Apollo 11 moon landing, is expected to take place at 9 a.m. EDT. Richard Branson blasted off to the edge of space on Virgin Galactic’s fourth spaceflight on July 11, becoming the first founders of a space company to go into space.

4. Apple reportedly delays plans to go back to the office by a month

Apple Inc. banners stand for On the Apple campus in Cupertino, California.

Bloomberg | Bloomberg | Getty Images

Apple has delayed plans to return to the office in September for at least a month, according to Bloomberg, as the Covid delta variant spreads. The tech giant will give workers a month or more of reprieve before requiring them to return to offices, Bloomberg said, citing people familiar with the matter. In June, Apple CEO Tim Cook said in an internal email that employees would return to the office three days a week starting in early September. The decision sparked a backlash among some Apple employees, who wrote a letter to Cook asking him to reconsider.

5. IBM shows strongest revenue growth in three years

Joan Cross Garcia | Corbis via Getty Images

IBM beat estimates by 4 cents with adjusted second-quarter earnings of $2.33 per share. The company said Monday afternoon that revenue rose 3.4% to $18.75 billion, beating expectations. It represents IBM’s strongest revenue growth in three years, aided by the company’s cloud and software business. IBM reiterated its prediction that revenue will grow, rather than decline, in the full year. Dow Jones stock is up about 4% on Tuesday. Shares are up 9.5% for the year through Monday’s close.

– Reuters contributed to this report. Follow all the market moves like a pro on CNBC Pro. Get the latest news on the pandemic with CNBC’s coverage of the coronavirus.

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