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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 41.74% for Wk of July 04 2024 (Last week: 44.49%)

Market Recap:

• Stock futures flat after S&P 500 hits record.

• Nasdaq, S&P hit new records as Powell warns on high rates.

• S&P +0.07%, Nasdaq +0.14%, Dow -0.13%.

• Powell: "Reducing policy restraint too late or too little could weaken economy."

• Key data: June CPI today, June PPI Friday.

• CPI seen as key test for rate cuts.

EARNINGS

It’s a light week. Here’s what we’re watching:

• Today: PepsiCo (PEP)

  • Delta Air Lines (DAL) - earnings of $2.37 per share (-11.6% YoY) on $15.5B revenue (+5.8% YoY)

• Friday: Citigroup (C), Wells Fargo (WFC)

  • JPMorgan Chase (JPM) - earnings of $4.55 per share (-4.2% YoY) on $44B revenue (+3.9% YoY)

Full earnings calendar here.

HEADLINES

Archegos Founder Bill Hwang Found Guilty on Fraud Charges

Clooney Op-Ed: “I Love Joe Biden. But We Need a New Nominee”

• Today’s US inflation report to set the tone (more)

• Nvidia leads Nasdaq and S&P 500 to record high closes (more)

• Fed's Cook: US data consistent with a soft landing (more)

• BP predicts global oil demand will peak in 2025 (more)

• Japan's Nikkei smashes past 42,000 mark to all-time high (more)

• Russia talks up business with India as Modi visits Moscow (more)

• US, Mexico move to thwart China circumvention of tariffs (more)

• HubSpot shares plunge 12% on report Alphabet walked from acquisition deal (more)

• Amazon's cloud launches blitz of new AI products (more)

• Costco hikes membership fee for the first time since 2017 (more)

• CNN to cut 100 jobs in major overhaul to focus on digital (more)

• Citi fined $136M for failing to fix regulatory issues (more)

• US retailers try to move back-to-school shopping to July (more)

Nvidia is Pivoting to Solve
Big Tech’s $1 Trillion Problem 

Nvidia ruled the first wave of the AI boom.

Its chips are needed by everyone who is serious about artificial intelligence.

But Nvidia recently pivoted to a massive new sector.

One that is vital to the future of AI.

This pivot is already worth at least $1 trillion.

And now, three small companies could benefit greatly from Nvidia’s pivot.

Click here now to learn more about Nvidia’s next AI move.

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DEALFLOW

M+A | Investments

• NBA finalizes $76B broadcasting deal with Disney, Amazon, Comcast (more)

• BP signs deal with mall owner Simon Property for over 900 EV chargers (more)

• Wealth tech startup for doctors raises $200M, eyes M&A (more)

• Accenture (ACN) has acquired Cientra, a silicon design and engineering services company (more)

• Series Entertainment, a game development company, acquired Pixelberry, an interactive fiction mobile game studio (more)

• Accuhealth merges with Signallamp Health, healthtech companies, funded by an add’l investment from Sunstone Partners (more)

• Medicus IT, a healthcare-focused IT managed services provider, received an investment from FFL Partners (more)

• Nasuni, an enterprise data platform for hybrid cloud environments, received a majority investment from Vista Equity Partners (more)

• Rohirrim, a request for proposal (RFP) AI automation platform, received an investment from Bessemer Venture Partners and IBM Ventures (more)

• Tierra Encantada, a company specializing in Spanish immersion early education, received $38M in investment from Susquehanna Growth Equity (more)

VC

• Vequity, a technology innovator in the business brokerage sector, raised an undisclosed amount in Seed funding (more)

• Skild AI, an AI robotics company, raised $300M in Series A funding, at $1.5 Billion valuation (more)

• Regal, a theatre circuits company, raised $250M in funding (more)

• Hayden AI Technologies, Inc., a company specializing in vision AI solutions for smart cities, raised $90M in Series C funding (more)

• X-Bow, a producer of advanced solid rocket motors and hypersonics technologies, raised more than $70M in Series B funding (more)

• Octagos Health, a provider of AI-driven cardiac device monitoring solutions, raised over $43M in Series B funding (more)

• Volumez, a cloud-aware data infrastructure company, raised $40M in Series A funding (more)

• Adona Medical, a Shifamed portfolio company that aims to deliver solutions for heart failure, raised $33.5M in Series C funding (more)

• Mantle, a company specializing in metal 3D printing technology for precision tooling, raised $20M in Series C funding (more)

• Nagish, a startup using AI to make communication accessible for hard-of-hearing individuals, raised $16M in funding (more)

• Kuva Systems, a company specializing in methane emissions monitoring for the oil and gas industry, raised $8.7M in funding (more)

• Lekko, a company helping developers build software through dynamic configuration, raised $4.5M in Seed funding (more)

• Lucid Green, a smart product identifier platform for the cannabis supply chain, raised $1.4M in funding (more)

CRYPTO

• Donald Trump to speak at Bitcoin 2024 Conference in Nashville (more)

• Bitcoin price decline on Germany, Mt. Gox and miner sell pressure may be overblown (more)

• Texas leaders worry that Bitcoin mines threaten to crash the state power grid (more)

BULLISH BITES

💣 Bill Hwang's Archegos: A timeline of the fund's spectacular $10 billion failure.

🚀  Wall St veteran: ”I know what Nvidia is going to do next” *

🙈 Manipulated: FTC study finds ‘dark patterns’ used by a majority of subscription apps and websites.

💸 Shock survey: 46% of Gen Z consumers rely on parents amid inflation squeeze.

🏚 Moving out: A guide on how to move your smart home.

DAILY SHARE

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