BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↑ 49.01% for Week of October 10 2024

Market Wrap:

• Dow futures flat after record close, up 55 points (0.1%).

• S&P and Nasdaq futures also near flat.

• Dow closed above 43,000, gaining 200+ points.

• Nvidia rallied 2.4%, leading tech higher.

• Citi’s Chronert: S&P 500 "fairly or slightly overvalued."

EARNINGS

Earnings we’re watching this week:

• Today: Charles Schwab (SCHW), Citigroup (C), Goldman Sachs (GS), Johnson & Johnson (JNJ)

  • Bank of America (BAC) - earnings of $.77 per share (-14.4% YoY), on revenue of $25.3 billion (+0.4% YoY)

• Wednesday: Discover (DFS), Morgan Stanley (MS)

• Thursday: Blackstone (BX)

  • Netflix (NFLX) - earnings of $5.12 per share on $9.8 billion revenue (+14.4% YoY)

• Friday: Procter & Gamble (PG)

See full earnings calendar here.

HEADLINES

Nvidia Poised to Dethrone Apple as Most Valuable Company

Boeing to Cut 17,000 Jobs as Losses Deepen During Strike

• S&P 500 ends at fresh record high, as Dow scales 43k for first time (more)

• Fed's Waller calls for 'more caution' on rate cuts (more)

• Dollar at over two-mo. high, yen near 150/dlr (more)

• CEOs and analysts at odds about S&P 500’s earnings outlook (more)

• Chinese stocks gain after Beijing lays out fiscal plans (more)

• US acting labor secretary to meet with both sides of Boeing impasse (more)

• Berkshire Hathaway hikes its SiriusXM stake to 32% after Liberty deal (more)

• Shares of Trump Media extend huge comeback (more)

• Elliott requests special meeting at Southwest Airlines, cuts board to 8 (more)

• Starbucks scales back discounts under new CEO (more)

• 7-Eleven to close more than 400 locations in North America (more)

• PE firms’ exit tactics risk curbing fees for banks (more)

A MESSAGE FROM BEHIND THE MARKETS

Warren Buffett invests $35 billion in the “lifeblood” of AI

Warren Buffett has quietly invested $35 billion...

In what The Atlantic calls the "lifeblood of the AI boom."

Without this crucial building block, NVIDIA couldn't make AI-chips...

Tesla couldn't produce self-driving cars...

And OpenAI couldn't run AI models like ChatGPT.

Even better, there's one tiny firm with a stranglehold over this building block.

According to Bloomberg it holds an "authorized monopoly"...

And could soon "control approximately 80% of the relevant market."

Now, that might be bad news for companies trying to compete with this tiny firm... But for investors, it could be the AI-investment opportunity of a lifetime.

Best of all, it's currently trading for only $16 a share!

But it likely won't stay this cheap for long.

Get the ticker here >>>

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DEALFLOW

M+A | Investments

• Apollo-backed Legendary Entertainment buys out Wanda Group stake (more)

• Aleph buys controlling equity interest in Localpayment (more)

• TPG Telecom to sell assets to Vocus in $3.5 bln deal (more)

• Lundbeck to buy Longboard Pharma in $2.6 bln deal (more)

• B. Riley sells majority of Great American to Oaktree Funds (more)

• InPost to buy remaining 70% in Menzies (more)

• CoreWeave receives $650M Credit Facility. Backers included JPMorgan Chase, Goldman Sachs, and more (more)

• Wholesaler True Value in bankruptcy to sell itself to rival (more)

• Fullscript acquires Rupa Health (more)

• LeagueApps receives equity investment from Accel-KKR (more)

VC

• Form Energy raises $405M in Series F financing (more)

• Toca Football raises approx. $100M in Series F Funding (more)

• Cytovale completes $100M in Series D funding (more)

• Glooko raises $100M in Series F financing (more)

• Imprint raises $75M in Series C funding (more)

• Farther raises $72M in Series C funding (more)

• Suki raises $70M in Series D funding (more)

• Braintrust raises $36M in Series A funding (more)

• Relyance AI raises $32M in Series B funding (more)

• Rivermark Medical raises $30M in Series C funding (more)

• Numeric raises $28M in Series A funding (more)

• Omnea raises $25M to tackle the annoying procurement market (more)

• Scope3 raises $25M in funding (more)

• Noetica AI raises $22M in Series A funding (more)

• Document Crunch raises $21.5M in Series B funding (more)

• Case Status raises $19.7M in Series B funding (more)

• FlexFactor raises $16.8M in Series A funding (more)

• Centaur Labs closes $16M+ Series B funding round (more)

• Covu raises $12.5M in Series A funding (more)

• RadiantGraph raises $11M in Series A funding (more)

• MiLaboratories raises Series A; total funding to $10M (more)

• ApertureData raises $8.25M in Seed funding (more)

• The Jackfruit Company raises $5M in Series B extension (more)

• Windmill raises $5M in Series A financing (more)

• LEVY Health raises $4.5M in funding (more)

CRYPTO

• Bitcoin begins the week on a high, jumps above $64Kg (more)

• Bitcoin climbs with Harris pledging regulatory framework support (more)

• Altcoin selling pressure looms as $500M in token unlocks scheduled this week (more)

BULLISH BITES

🚀 Next Wave in AI: Warren Buffett’s $35 Billion Bet *

🤖 Growth: Honeywell’s CEO says the big AI payoff won’t come from productivity.

✈️ Inside Look: The nasty rivalry rocking the world of private jets.

🤫 Enigma: The secretive dynasty that controls the Boar’s Head brand.

🛸 Far Out: The world's first commercial space station looks like a luxury hotel.

DAILY SHARES

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