BEFORE THE OPEN

MARKETS:

• S&P 500 flat at 4,373.20, Nasdaq down 0.25%, Dow up 0.04%.

• 10-year Treasury yield surpasses 4.8%.

• Rising yields spark concerns of extended Federal Reserve tightening.

• Investors also weigh potential impact from the Israel-Hamas war on global economy.

• Positive Q3 earnings reports, with Bank of America and Bank of New York Mellon beating expectations.

• Chip stocks, like Nvidia and Advanced Micro Device, face challenges due to AI chip sales restrictions to China.

EARNINGS

Here’s what we’re watching this week:

• Today: Netflix (NFLX), TESLA (TSLA)

• Full earnings calendar here

NEWS BRIEFING

Biden Plans to Ask Congress for $100 Billion in Ukraine, Israel Aid

Marc Andreessen Just Dropped a 5,200-Word ‘Techno-Optimist Manifesto’ — read here

• Israel War Latest:

  • UN Security Council to vote Wednesday on Israel-Gaza conflict (more)

  • Gaza hospital bombed: Hundreds said killed in Gaza blast, protests erupt (more)

  • Oil jumps as Gaza hospital blast ratchets up regional tensions (more)

• Retail sales rose 0.7% in September, beating expectations (more)

  • Resilient consumer keeps pressure on the Fed (more)

• Home foreclosures are on the upswing nationwide (more)

• Homebuilder sentiment drops to 10-month low, as mortgage rates soar (more)

• IRS to offer free ‘Direct File’ pilot to some taxpayers in 13 states for 2024 tax season (more)

• The U.S. gets a C+ in retirement (more)

• Mismatched bank equities is the 'core problem' government will go after (more)

• Will Xi Jinping’s gamble on Vladimir Putin pay off? (more)

• The world has to add or replace 50 million miles of transmission lines by 2040, IEA says (more)

• For Goldman Sachs, no bad news is good news after a brutal stretch (more)

• Tim Cook goes to China, where early iPhone 15 sales are reportedly sluggish (more)

• Baidu says its AI is in the same league as GPT-4 (more)

• Choice Hotels offers nearly $8 billion for larger rival Wyndham Hotels & Resorts as travel booms (more)

• Tesla to recall nearly 55,000 Model X vehicles, auto regulator says (more)

• Tyson Foods joins bug-protein craze in partnership with startup (more)

• Big Tobacco turns to rooibos tea to counter upcoming ban (more)

• 'Wolf in cashmere' Bernard Arnault loses his slot as the world's 2nd-richest man to Jeff Bezos as LVMH stock slips (more)

• ‘Stunned and sickened.’ Wexner Foundation cuts ties with Harvard over ‘tiptoeing’ on Hamas (more)

• UPenn donors pile pressure on school as David Magerman pulls support (more)

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DEALFLOW

• Mitsubishi Corp considering bid for Fujitsu's chip unit Shinko Electric (more)

• Choice Hotels makes $7.8B Wyndham offer public after merger talks break down (more)

• Biotech firm Prothena prepares for potential sale (more)

• Natgas producer Chesapeake explores buying Southwestern Energy (more)

• KKR invests in Catalio Capital Management (more)

• UK sportswear group Frasers expands German presence with SportScheck deal (more)

• Nirvana Insurance, a provider of insurance for physical operations, raised $57M in Series B funding (more)

• Nucleus RadioPharma, an integrated development, manufacturing, and supply chain organization for radiopharmaceuticals, raised $56M in Series A funding (more)

• Nova Credit, a data analytics company enabling businesses to grow responsibly by leveraging alternative credit data, raised $45M in Series C funding (more)

• ScyllaDB, a provider of a database for data-intensive apps, raised $43M in funding (more)

• Prove Identity, a provider of digital identity solutions, raised $40M in funding (more)

• VedaBio, a biotechnology company specializing in molecular detection, raised over $40M in initial funding (more)

• Evident Vascular, a medical technology startup developing an intravascular ultrasound (IVUS) platform, raised $35M in Series A funding (more)

• Fingerprint, a provider of an accurate device intelligence platform, raised $33M in Series C funding (more)

• Society Brands, a tech-enabled consumer products company, raised additional $25M in equity funding having most recently secured $11M in a funding round led by Gullane Capital (more)

• Joor, a digital wholesale ecosystem company, raised $25M in funding (more)

• Membrane Labs, a developer of a platform to manage institutional crypto trading and financing activity, raised $20M in Series A funding (more)

• NovoHydrogen, a green hydrogen developer, raised $20M in Equity funding (more)

• Reality Defender, a provider of an AI-generated media detection platform, raised $15M in Series A funding (more)

• Yardstik, a Trust and safety platform built to help high-volume hiring businesses safely hire, verify, and onboard workers at scale, raised an additional $12M in funding (more)

• SwiftConnect, a provider of connected access enablement solutions, raised $10M in funding (more)

• Modofi Bio, a company specializing in DNA modification as a novel approach to target cancer, raised additional $4.3M in Seed funding (more)

• Cognitive Space, an intelligent space automation company, raised $4M in Seed+ funding (more)

• Anonybit, an innovator in decentralized biometric authentication and data protection, secured an additional $3M funding (more)

• Seasonshare, a provider of a ticketing tech platform in the sports and entertainment industry, raised an undisclosed amount in strategic funding (more)

• Slipstream Medical, a manufacturer of the Stiletto™ Extended Dwell Catheter, raised an undisclosed amount in Series A funding (more)

• DealMaker, a capital-raising technology platform, received an upsized growth capital financing (more)

• Zelus Analytics, a sports analytics company, completed the first tranche of its Series A funding (more)

• Vista invests in Gatekeeper (more)

M & A:

• Thermo Fisher acquires Olink in $3.1B deal (more)

• Quext acquires Homebase to redefine smart apartment communities (more)

• Greybull Stewardship acquires reclaimed textile and garment recycling companies (more)

• Chatham Financial expands capital markets capabilities with acquisition of New York City-based EA markets (more)

• Terra Firma Energy Limited completed the acquisition of Droitwich Peak Energy (more)

• J.F. Lehman & Company completes acquisition of Heritage-Crystal Clean, Inc. (more)

• latfile, an AI-assisted data exchange company, acquired Chatcsv, an AI startup that turns contextual insight into CSV files and spreadsheets (more)

• Varsity Healthcare Partners purchases VetEvolve (more)

• Mercer Advisors buys Kingfisher Capital (more)

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CRYPTO

• Binance’s U.S. affiliate cuts off USD withdrawals (more)

• SBF calendar showed meetings with Clinton, Hochul (more)

• Roblox integrates XRP as payment method (more)

• Australia plans to require Crypto exchanges to obtain licenses to curb risks (more)

BULLISH BITES

🕵🏻‍♂️ The Secret Life of Jimmy Zhong, Who Stole – and Lost – More Than $3 Billion → CNBC
Never-before-seen footage that shows how investigators linked the thief to the crypto heist.

🎙 24 Best Podcasts of 2023 (So Far) → Esquire
The year's best and brightest includes a Julia Louis-Dreyfus-hosted interview show—and a buzzy new sports series.

🕹 ‘Wait, Netflix Has Games?’ Streaming Giant Plans New Videogames Based on Its Hit Shows → WSJ
Streamer to put greater emphasis on developing games based on its popular programming, including ‘Squid Game,’ ‘Wednesday,’ ‘Black Mirror,’ and a chess game based on its popular ‘The Queen’s Gambit’ series.

DAILY SHARES

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