A.I. Journalism

BEFORE THE OPEN

Markets:

• Stock futures near flat after 9-day Dow winning streak.

• CSX and Knight-Swift report underwhelming earnings.

• 73% of S&P 500 companies beat expectations in earnings season.

• S&P 500 and Nasdaq lose around 0.7% and 2%, Dow gains 0.5%.

• Johnson & Johnson boosts Dow, Netflix and Tesla shares slide.

• Dow and S&P 500 on track for weekly gains, Nasdaq lower.

EARNINGS

What we’re watching:

• Today: American Express (AXP)

• Full earnings calendar here

NEWS BRIEFING

Tesla Shares Down On Slimming Margins,
Cybertruck Concerns

Amazon to launch pay-by-palm technology at all Whole Foods stores by year-end

• US weekly jobless claims fall to two-month low (more)

• June home sales drop to the slowest pace in 14 years as short supply chokes the market (more)

• U.S. leading indicators point to recession starting soon (more)

• Homebuilders rally stalls after D.R. Horton disappoints bulls (more)

• Dubai’s stock market hits an 8-year high, lifted by a real estate boom (more)

• China’s economy misses growth forecasts, raising the odds of more support for its tepid recovery (more)

• China’s top chipmaker loses Chairman in latest Exec exit (more)

• Wheat prices soar for a third day as Russia-Ukraine tensions stoke fears of major food crisis (more)

• China doesn’t want a trade war with the US but will retaliate against further curbs, ambassador says (more)

• Vietnam EV maker VinFast to start construction of US factory next week (more)

• Google says it’s developing tools to help journalists create headlines, stories (more)

• Apple tests ‘Apple GPT,’ develops generative AI tools to catch OpenAI (more)

• Apple supplier TSMC delays start of Arizona chip factory (more)

• Victims want Morgan Stanley to answer for ex-financial advisor’s Ponzi scheme (more)

• Netflix earnings showcase strength as the rest of the media industry struggles (more)

• Florida’s CFO blames wokeness for insurers leaving the state (more)

DEALFLOW

• Bain Capital increases SoftwareOne takeover offer to $3.7B (more)

• Aya Healthcare acquires Polaris AI (more)

• Aeroseal raises $67M in Series B funding (more)

• Ciso Global acquires SB Cyber Technologies (more)

• Vibrant raises 3.5M in funding (more)

• Peppermint raises 8M in Seed funding (more)

• InspectionGo raises $5.5M in Series A funding (more)

• Bloomfire buys Seva (more)

• eTelligent Group receives investment from IMB Partners (more)

• FedML closes $11.5M Seed funding round (more)

• PingSafe raises $3.3M in Seed funding (more)

CRYPTO

• SEC Chair Gensler cites ‘Wild West’ of crypto in case to boost agency’s budget (more)

• Terraform Labs seeks to subpoena FTX over SEC lawsuit defense (more)

• Bitcoin traders say ‘get ready’ as BTC price preps 2023 bull market (more)

• Kuwait bans crypto and virtual asset transactions (more)

• Latest wild FTX allegations include plan to buy island of Nauru to survive cataclysm (more)

BULLISH BITES

💰 Passport King’ Builds Quant Trading Fortune: Chris Kalin is best known for turning the niche business of countries offering citizenship to wealthy foreigners into a multibillion-dollar industry, earning him the name "Passport King"... (read more)

❓ Poor Man’s Grain?: This ‘Poor Man’s Grain’ Is Showing Up on Michelin-Starred Menus, including a recent appearance at a White House state dinner.… (can you guess what it is?)

SHARES

Enjoy your weekend! 😎 -mb