Tesla slashes staff

Lockheed wins $17B US missile defense contract, Israel vows to retaliate against Iran for missile attacks, Tesla lays off more than 10% of staff, strong retail sales boost first-quarter growth estimates, and 'opportunity of a lifetime' may unfold for gold and silver this week…

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Market Briefing
April 16, 2024

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Good morning.

The Fast Five → Lockheed wins $17B US missile defense contract, Israel vows to retaliate against Iran for missile attacks, Tesla lays off more than 10% of staff, strong retail sales boost first-quarter growth estimates, and 'opportunity of a lifetime' may unfold for gold and silver this week…

Calendar: (all times ET)

Today:

Fed Chair Powell speaks, 1:15p

THU, 4/18:

Jobless claims, 8:30a

Your 5-minute briefing for Tuesday, April 16:

BEFORE THE OPEN

As of market close 4/15/2024.

Pre-Market:

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

Market Recap:

  • Stocks dip: Dow down 0.65%, S&P slips 1.2%, Nasdaq down 1.79%.

  • Rising yields, Middle East conflict overshadow strong Goldman earnings, retail sales.

  • Dow nears 2024 flatline after six straight losing days.

  • Yields surge past 4.6%, highest since November.

  • Retail sales up 0.7% in March; inflation concerns persist.

  • Iran's attack adds to market jitters; fear gauge hits October levels.

  • Oil prices dip, rebound; Salesforce drops, Goldman Sachs rises.

  • Steep losses deepen amid inflation worries, mixed earnings start.

EARNINGS

What we’re watching this week:

  • Today: Bank of America (BAC), Interactive Brokers (IBKR), Johnson & Johnson (JNJ), Morgan Stanley (MS)

    • UnitedHealth (UNH) - earnings of $6.14 per share, up 7.3% year-over-year (YoY), on revenue of $92.4 billion (+3.0% YoY)

  • Wednesday: US Bancorp (USB), Discover Financial Services (DFS)

  • Thursday: Blackstone (BX)

    • Netflix (NFLX) - expect NFLX to report Q1 earnings of $4.20 per share (+45.8% YoY) on revenue of $8.6 billion (+5.8% YoY)

  • Friday: American Express (AXP)

Full earnings calendar here

HEADLINES

Lockheed Martin (LMT.N), has been awarded a $17 billion contract to develop the next generation of interceptors that would guard the US against an intercontinental ballistic missile attack.

Staff notified of layoffs effective immediately. Tesla looking to cut costs, boost productivity. Q1 deliveries fell for first time in nearly four years.

  • Israel vows to retaliate against Iran for missile attacks (more)

  • Stocks fall as Treasury yields, Middle east tensions weigh (more)

  • Strong US retail sales boost first-quarter growth estimates (more)

  • 'Blowout' retail sales shake bond and currency markets (more)

  • China’s economy grew 5.3% in the first quarter, beating expectations (more)

  • 'Opportunity of a lifetime' may unfold for gold and silver this week (more)

  • Oil prices fall slightly after Israel fends off large-scale aerial attack by Iran (more)

  • US tax refunds decline 3.3% this year in run-up to deadline (more)

  • Biden likely to tap oil reserve for summer demand (more)

  • Fed's reverse repo facility plummets to lowest level in nearly three years (more)

  • Fed hiking rates to 6.5% is ‘real risk,’ UBS strategists say (more)

  • US awards Samsung $6.4B in grants to boost TX chip output (more)

  • Profits surge at Goldman Sachs on Wall Street revival (more)

  • Salesforce drops after reports it’s in talks to acquire Informatica (more)

  • Trump Media shares tank after company says it could sell more stock (more)

A MESSAGE FROM GOLDENCREST METALS

Don't be fooled by the mainstream media—

We're raising the alarm – Jamie Dimon of JPMorgan has just forecast a colossal economic disaster for 2024-2025. We're facing a potential collapse, with chaos from Ukraine to the Middle East, and the Federal Reserve gambling with our financial future.

Make no mistake – this is a battle for your survival. The U.S. debt is skyrocketing, posing an unprecedented threat. Even Wall Street giants are scared. The "booming" stock market? It's a bubble on the brink of bursting, and the media is painting a rosy picture – don't buy it!

Take control now. Our No-Cost Wealth Management Guide isn't just advice – it's your survival kit in this economic battlefield.

Inside, you'll find:

  • Strategies to safeguard your wealth against the rising national debt crisis.

  • Insights on why gold is essential in your investment portfolio.

  • Crucial actions to secure your retirement.

  • Powerful anti-inflation investments.

  • Why central banks are stockpiling gold.

  • And much more!

Don't be a spectator in this economic showdown. When the economy plummets, only the prepared will thrive. Get your no-cost guide NOW for survival and prosperity!

To your unshakeable prosperity,
-GoldenCrest Metals

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DEALFLOW

M+A | Investments

  • Bain to sell £1.25B UK payroll tech firm Zellis to Apax (more)

  • MFE got bank support for potential $4B euro ProSieben bid (more)

  • Karma Wallet, a sustainable consumer spending company, acquired DoneGood, a marketplace for sustainable shopping (more)

  • Partners Group buys minority stake in hotel investor Trinity (more)

  • Big 7 Ventures buys Bowtex LP (more)

  • Resideo purchases Snap One (more)

  • The Bascom Group purchases Senior Housing Community (more)

VC

  • AlleyCorp, a tech venture capital firm, closed a $250M fund (more)

  • Ecotrak, a provider of an intelligent facility management platform, raised $30M in funding (more)

  • Kode Labs, an autonomous smart building startup, raised $30M in Series B funding (more)

  • CleanFiber, a materials science company, raised $28M in Series B funding (more)

  • Dot Compliance, a provider of AI-enabled quality management system solutions, raised $17.5M in Series B funding (more)

  • Avalon, an independent game studio, raised $10M in funding (more)

  • HumanX, an AI strategy company serving as a catalyst for orgs with solutions in the dynamic AI landscape, raised $6M in funding (more)

  • NightVision, an application security provider, raised $5.4M in Seed funding (more)

  • The Provenance Chain Network, a company providing permissioned access to product, manufacturers, suppliers, and regulators, closed the first tranche of Series A equity funding at $4M (more)

  • Paraform, a recruiting marketplace, raised $3.6M in seed funding (more)

  • Bookit N Go, a travel technology startup, raised an undisclosed amount in funding (more)

CRYPTO

  • Bitcoin struggles to maintain $64,000 amid rising Middle East tensions (more)

  • Bitcoin slump on Iran attack flashes warning for global markets (more)

  • Ether, Altcoins remain under pressure following volatile weekend (more)

  • FTX controversy derails top law firm’s bid for Binance role (more)

BULLISH BITES

🤑 Facts: Mark Cuban is ‘proud to pay’ $275,900,000 in taxes.

🤖 Bot be gone: Musk plans to charge new X users to enable posting.

💪 Flex: Scottie Scheffler wore a Rolex Submariner ‘Hulk’ to celebrate his second Masters win.

📈 Magic number? Americans think they need almost $1.5 million to retire, but experts say to focus on this number instead...

🚨 Take control: Your No-Cost Wealth Management Guide from Goldencrest isn't just advice – it's your survival kit in this economic battlefield. Download your no-cost guide here » *

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