BEFORE THE OPEN

MARKETS:

• S&P 500 futures mostly unchanged after Microsoft and Alphabet earnings.

• Microsoft shares rise 3.7% on strong fiscal first-quarter results.

• Alphabet shares drop over 6% due to cloud business missing estimates.

• Major averages gain during the main trading session, Dow up 0.6%, S&P 500 and Nasdaq up 0.7% and 0.9%.

• Positive earnings contribute to a positive outlook for the market.

• Traders anticipate key quarterly reports, including Boeing, IBM, and Meta.

• Economic focus on September's building permits and new home sales data for housing market insights.

EARNINGS

Here’s what we’re watching this week:

• Today: Meta Platforms (META)

• Thursday: Amazon.com (AMZN)

• Full earnings calendar here

NEWS BRIEFING

Meta Sued by 42 Attorneys General for Addictive Features Targeting Kids

Apple Announces 'Scary Fast' Oct. 30 Event (8p ET), New Macs Expected

• Israel War Latest:

  • Blinken says pauses in war needed for Gaza aid (more)

  • Biden, Saudi Crown Prince discuss efforts to contain Israeli-Hamas conflict (more)

  • Google disables live traffic conditions on Maps and Waze in Israel and Gaza (more)

• US House Republicans to see if Mike Johnson can win speaker's gavel (more)

• Jamie Dimon rips central banks for being ‘100% dead wrong’ on economic forecasts (more)

• Vanguard says debt investors dreading rates rout are missing out (more)

• Xi makes unprecedented PBOC visit in sign of focus on economy (more)

• GM withdraws 2023 guidance, UAW strikes SUV plant (more)

• Car workers strike costing GM $200M a week (more)

• Andurand says oil must hit $110 before Saudi Arabia eases supply curbs (more)

• Verizon stock soars to its best day in almost 15 years (more)

• Nvidia to make Arm-based PC chips in major new challenge to Intel (more)

• Anheuser-Busch and UFC strike multiyear partnership, as brewer tries to turn around Bud Light sales (more)

• Apple to revamp TV app in step toward simplifying video services (more)

• Frontier Airlines overhauls frequent flyer program to reward travelers based on spending (more)

• Airline CEOs predict loyalty program doom under proposed legislation (more)

• Gucci sales fall as Kering lags rivals facing luxury slowdown (more)

• Promise of free money backfires on California community colleges (more)

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DEALFLOW

• Russia strikes deal with Dubai's DP World to develop Arctic sea route (more)

• Cadence Bank to sell insurance business to Arthur J Gallagher for $904M (more)

• OrbiMed, a global healthcare investment firm, raised more than $4.3 billion in commitments for its latest private investment funds (more)

• Keyfactor, Inc., an identity-first security solution for modern enterprises, secured a minority investment from Sixth Street Growth, the growth investing platform of Sixth Street, at an enterprise value of approximately $1.3 billion (more)

• Legacy closes $100M senior credit facility from Wells Fargo (more)

• PSG Invests in AirWorks (more)

• Ares invests in Interstate Waste Services (more)

• Sixth Street invests in Keyfactor (more)

• Rampart Bioscience, a biotechnology company developing next-generation biologics, raised $85M in Series A funding (more)

• Censys, a provider of an internet intelligence platform for threat hunting and exposure management, raised $75M in funding (more)

• Adlumin, a managed detection and response (MDR) company providing a security operations platform, raised $70M in Series B funding (more)

• DermBiont, a clinical-stage biotechnology company, raised $35.2M in Series B funding, including a $27.1M Series B first close and $8.1M in converting outstanding notes (more)

• Signos, a provider of a metabolic health platform, raised $20M in Series B funding (more)

• Greater Good Health, a healthcare organization enabling and expanding access to value-based care for seniors, closed a $20M Series A financing (more)

• LyGenesis, a clinical-stage biotechnology company, raised $19M in Series A-2 funding (more)

• Aleph, a provider of a financial planning and analysis platform, raised $16.7M in funding (more)

• PhaseV, a company specializing in causal machine learning (ML) technology that optimizes clinical trial design and analysis, raised $15M in funding (more)

• QuoteWell, a tech-enabled commercial insurance wholesale brokerage, raised over $15M in Series A funding (more)

• OnsiteIQ, a construction intelligence platform for commercial real estate investors, developers, and owners, closed a $14M Series B financing round (more)

• Eden, a sustainable natural resource recovery company, raised $12M in Seed funding (more)

• xtype, an agile software delivery company, raised $10.8M in funding (more)

• Twelve Labs, a video understanding company, raised $10M in funding (more)

• Palladium Energy, a utility-scale solar and storage developer within the U.S., closed a $10M corporate equity investment from Ultra Capital (more)

• Preczn, a financial services Command Center specializing in vertical SaaS platforms, raised $6.8M in funding (more)

• LighthouseAI, a company specializing in compliance solutions for the pharmaceutical supply chain, raised $4.6M in Seed funding (more)

• Yourco, a provider of an SMS-based platform for non-desk employees, raised $2M in Seed funding (more)

• Innerworld, a provider of a mental health platform, received $2M grant from National Institute of Mental Health (NIMH) (more)

• JourneyTrack, an enterprise-grade SaaS experience management platform provider, raised $1M in funding (more)

• Cogito, a company specializing in real-time AI coaching and guidance for the enterprise, raised an undisclosed amount in funding (more)

• hostU, a medium-term rental platform curated for university students and faculty, received an equity investment from Thirteen Castles (more)

M & A:

• Roche buys bowel drugmaker Telavant for $7.1B (more)

• Vector Solutions acquires Pathwayos (more)

• Gemspring purchases InflowCX from Renovus (more)

• Oji Group buys Walki from OEP (more)

• General Atlantic acquires minority stake in TBO (more)

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CRYPTO

• Coinbase shares rise 7% as Grayscale ETF ruling takes effect (more)

• Bitcoin price surge sees significant asset outflow on crypto exchanges (more)

• FTX is negotiating with three bidders to restart Crypto exchange (more)

BULLISH BITES

💰 Might be hard to believe with the cost of living crisis, but the average American household has achieved millionaire status

🧼 You can scrub your personal information from Google searches. Here’s how to do it…

🚗 Forget Tesla – this $13,000 tiny car is Japan's best-selling EV

💲 After decades of hypergrowth, fintechs have entered a new era of value creation - read McKinsey’s new 17-page fintech report

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