BEFORE THE OPEN

PRE-MARKET:

MARKETS:

• Stock futures nearly flat as investors anticipate second key inflation report.

• Dow futures down 0.03%, S&P 500 and Nasdaq 100 futures around -0.1%.

• December's CPI showed prices up 0.3% MoM and 3.4% YoY, impacting interest rate cut expectations.

• Crypto-related stocks decline after SEC rule change approval for bitcoin ETFs.

• Weekly performance: Dow +0.7%, S&P 500 +1.8%, Nasdaq +3%.

• Today’s focus: producer price index (PPI) and earnings from major banks.

EARNINGS

What we’re watching:

• Today: Bank of America (BAC), BlackRock (BLK), Citigroup (C), JPMorgan Chase (JPM)

  • Delta Air Lines (DAL) - expected: $1.16 per share (-21.6% YoY) on $13.6 billion revenue (+10.3% YoY)

  • Wells Fargo (WFC) - expected: $1.22 per share (+100.0% YoY) on $20.3 billion revenue (+3.5% YoY)

Full earnings calendar here

HEADLINES

Bitcoin ETFs Begin Trading on U.S. Exchanges

Big Banks Mull the Unthinkable: Suing the Fed

• US, UK strike Yemen in retaliation for Red Sea attacks (more)

  • Oil prices jump more than 2% as US, Britain strike Houthis (more)

  • Red Sea crisis could jeopardize inflation fight as shipping costs spike globally (more)

• 10-year Treasury yield rises after higher-than-expected December CPI (more)

• Crypto skeptic Gary Gensler becomes reluctant backer of Bitcoin ETFs (more)

• US deficit tops half a trillion dollars in the first quarter of fiscal year (more)

• Wall Street drops as inflation data dulls rate-cut hopes (more)

• FAA to investigate Boeing after door plug falls off Alaska Airlines plane midair (more)

• China’s exports slump for the first time in seven years (more)

• Tesla cuts Model 3 and Model Y prices in China amid fierce competition (more)

• Microsoft briefly tops Apple as most valuable public company (more)

• Morgan Stanley to pay under $300M to settle block-trading probe (more)

• Google lays off hundreds in hardware, voice assistant teams (more)

• Rental giant Hertz dumps EVs, including Teslas, in shift back to gas cars (more)

• Airbus lands record orders in 2023, beats Boeing on deliveries (more)

• Paramount is reportedly going to be sold at auction to the highest bidder (more)

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M & A | INVESTMENTS

• Bain, Hellman & Friedman vying to acquire DocuSign (more)

• Wyndham gets FTC's second request after hostile bid by Choice (more)

• Believe SA top investors explore takeover of French digital music co (more)

• Wolverine World Wide sells Sperry to Authentic Brands Group in shoe retail deal (more)

• MedRisk, a company specializing in managed physical rehabilitation in workers’ compensation, acquired Medata, a provider of cost management and clinical solutions (more)

• Accenture (ACN) has entered into an agreement to acquire Navisite, a digital transformation and managed services provider (more)

• Bloomerang, a provider of a donor and volunteer relationship management platform, acquired Qgiv, a provider of fundraising technology solutions (more)

• Trace3, a technology services firm, acquired a strategic portfolio enhancement, Tail Wind Informatics, a firm in the data and analytics consulting space (more)

• CSI, a provider of end-to-end financial software and technology solutions, received a strategic investment from TA Associates (more)

• Lightmatter, a company specializing in photonics compute, received a follow-on investment from SIP Global Partners (more)

• TA invests in CSI (more)

• Orangewood Partners invests in SERVPRO (more)

VC

• Harbor Health, a primary and specialty clinic group, raised $95.5M in New funding (more)

• Artisight, a provider of an AI-powered smart hospital platform for virtual care, raised $42M in a Series B funding (more)

• Downpayments, a provider of interest-free down payments for property investors, announced $32.8M in initial debt funding from Partners for Growth, and equity from Second Century Ventures (more)

• KlariVis, a company specializing in data analytics solutions for community banks and credit unions, raised $11M in Series B funding (more)

• WaveBL, a digital trade document company, raised $11M in Additional funding (more)

• GolfForever, a provider of an at-home training system for golfers, raised $10M in Series A funding (more)

• Dispatch (fka OneAdvisory), a provider of a wealthtech solution enabling client data management for registered investment advisors, raised $8M in Seed funding (more)

• Parallel, a provider of a teletherapy platform for kids with special needs, raised $6.125M in funding (more)

• Korr, an insurtech startup, closed a $3.2M seed funding round (more)

• Incentiv, a platform for growth equity and private equity firms to attract, motivate and retain executive talent across their global portfolios, closed a $3M seed funding (more)

• Atomic-6, a company specializing in advanced composite manufacturing for Aerospace, Ballistic, and Hypersonic applications, closed its first and second funding rounds (more)

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CRYPTO

• Bitcoin rallies to 2-year high of $49,000 then fizzles as crypto ETFs debut (more)

• Bitcoin ETFs stir optimism, ambivalence and dread among crypto's staunchest supporters (more)

• UBS and Citi will let some customers trade Bitcoin ETFs, contrary to rumors (more)

BULLISH BITES

🔥 Post of the day: Meet the “dream team” at the manufacturer that made the plane door that just blew off in the middle of a flight.

📈 BTC-ETF 101: Here’s what a Bitcoin ETF actually means for investors.

🧵 Sew cool: 13-year-old secures Louis Vuitton internship after mom shares sketches that went viral.

🙌 High five: The 10 best US companies to work for in 2024, according to Glassdoor.

👑 Dethroned: Could Queens unseat Brooklyn as NYC’s trendiest borough in 2024?

DAILY SHARES

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