Bullish or bearish?

Tame producer price data soothes inflation concerns, S&P, Nasdaq end sharply higher on soft inflation data, Apple plans to overhaul entire Mac line with AI chips, brokerages shift Fed rate-cut expectations to September, and Cathie Wood muscles into ChatGPT boom with new OpenAI stake…e unveils custom Arm-based chips, small-business sentiment slides to 11-year low, gold hits another record awaiting inflation print, and Boeing hit with new whistleblower allegations…

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Market Briefing
April 12, 2024

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The Fast Five → Tame producer price data soothes inflation concerns, S&P, Nasdaq end sharply higher on soft inflation data, Apple plans to overhaul entire Mac line with AI chips, brokerages shift Fed rate-cut expectations to September, and Cathie Wood muscles into ChatGPT boom with new OpenAI stake…

Calendar: (all times ET)

Today:

Consumer Sentiment, 10:00am

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Your 5-minute briefing for Friday, April 12:

BEFORE THE OPEN

As of market close 4/11/2024.

Pre-Market:

US Investor % Bullish Sentiment:
43.44% for Wk of Apr 11 2024 (Last week: 47.29%)

Market Recap:

  • Stock futures hover flatline pre-major bank earnings.

  • Dow up 0.05%, S&P 500, Nasdaq stable.

  • Apple jumps 4.3% on AI-focused Mac chip plans.

  • Nvidia rises 4.1%, Amazon hits record.

  • AI momentum crucial in current bull run.

  • This week: S&P 500 down 0.1%, Nasdaq up 1.2%, Dow down 1.1%.

  • Major bank earnings kick off Q1 season Friday.

EARNINGS

What we’re watching:

  • Today: BlackRock (BLK), Wells Fargo (WFC)

Full earnings calendar here

HEADLINES

US producer prices increased moderately in March as a rise in the cost of services was softened by a fall in goods prices, calming fears of a resurgence in inflation.

Company working on rapid transition to the new processors. Revamp will bring AI capabilities and memory improvements.

  • US Senate committee to hold hearing on Boeing safety culture report (more)

  • S&P, Nasdaq end sharply higher on soft inflation data (more)

  • Producer prices rise but show some relief in key categories (more

  • Quarterly earnings to feature big growth in tech-related companies (more)

  • Dollar hits 34-year high against yen after US inflation data (more)

  • Yen crumbles under towering dollar and US Treasury yields (more)

  • Global banks ramp up roadshows for clients eager to bet on Japan (more)

  • Bond traders are preparing for a 5% yield, no-rate-cut world (more)

  • The European Central Bank might beat the Fed to interest rate cuts (more)

  • Brokerages shift Fed rate-cut expectations to September after consumer price data (more)

  • Soaring insurance costs hit as US buyers get a break on car prices (more)

  • Apple shares have best day since last May (more)

  • Meta unveils second-gen AI training and inference chip (more)

  • Southwest's expected 2024 Boeing jet deliveries keep shrinking (more)

  • Cathie Wood muscles into ChatGPT boom with new OpenAI stake (more)

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DEALFLOW

M+A | Investments

  • Blackstone, CVC consider bids for Superstruct festivals firm (more)

  • Shurgard agrees to buy self-storage rival Lok'nStore in $474M deal (more)

  • Empower Finance, a financial tech company, acquired Petal, a consumer credit card/financial tech company, as well as Cashalo, a consumer credit and lending company (more)

  • Postman, an API collaboration company, acquired Orbit, a provider of a community growth platform for developer companies (more)

  • Huron-backed Criticore purchases Jenco (more)

  • Peak Rock buys HuFriedyGroup (more)

  • HCI-backed Highland Commercial Roofing acquires Fidelity (more)

  • KKR-backed Groundworks buys The Basement Guys (more)

  • Raft, a modern tech, data software engineering firm, received a $60M Growth investment from Washington Harbour Partners (more)

  • Upstream Security, a provider of cybersecurity extended detection and response (XDR) for connected vehicles and IoT, received an investment from Cisco Investments (more)

  • Cohesity, an AI-powered data security and management company, received an investment from IBM (more)

  • General Atlantic invests in HighLevel (more)

VC

  • Arcadia, a provider of a utility data and community solar platform, raised $50M in funding (more)

  • DeepCure, a novel, small molecule therapeutics powered by AI and automation of chemistry, raised $24M in Series A-1 funding (more)

  • Abre, a K-12’s data solution company, raised $24M in Series A funding (more)

  • Uplink, a company focused on democratizing Internet access, raised $10M in funding (more)

  • Udio, a company that leverages AI to easily create original music, reportedly raised $10M in Seed funding (more)

  • Simbian, a company providing AI solutions into business operations across diverse IT environments, raised $10M in seed funding (more)

  • Tabs, a provider of an accounts receivable (AR) platform for B2B businesses, raised $7M in Seed funding (more)

  • Patlytics, a provider of an AI-powered patent workflow platform, raised $4.5M in Seed funding (more)

  • Writ, a C-based startup that enables companies to use data to make decisions, raised $3.8M in Seed funding (more)

  • PeerDB, a provider of a data movement platform for PostgreSQL, raised $3.6M in Seed funding (more)

  • Huddle Up, a pediatric digital health company, raised an undisclosed amount in Series C funding (more)

CRYPTO

  • Bitcoin miners power up rigs to record levels ahead of ‘halving’ (more)

  • Bitcoin ecosystem tokens, RUNE, STX, and ORDI may see gains after halving (more)

  • Sam Bankman-Fried appeals fraud conviction, 25-year prison sentence (more)

BULLISH BITES

💰 Right place: How one company made bank off the regional banking crisis.

🔎 Google who? Gen Z is searching on TikTok, YouTube instead.

🚀 Star wars: Space Force is planning what could be the first military exercise in orbit.

🤖 Humane AI Pin review: Not even close.

📈 Must-read: Our friends at Carbon Finance send out a weekly visual newsletter with the most important infographics, insights, and insider trades - Check it out »

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