Big Tech enthusiasm

BEFORE THE OPEN

Markets:

• S&P 500 futures near flat, Nasdaq 100 futures down 0.2%, Dow Jones futures slip 0.07%.

• Mega-cap tech stocks on the move in extended trading: Alphabet up 6%, Microsoft down 3%, Snap tumbles 19%.

• Investors await Fed's interest rate decision and press conference, market pricing in 98% chance of rate hike.

• Wall Street saw winning day, Dow's 12th-straight winning session, S&P 500 up 0.3%, Nasdaq up 0.6%.

• More corporate earnings to follow, including Coca-Cola, Stellantis, Boeing, AT&T before the bell, Meta, Chipotle, Mattel after market closes.

EARNINGS

What we’re watching this week:

• Today: AT&T (T), Boeing (BA), Coca-Cola (KD), Meta Platforms (META)

• Thursday: Amazon (AMZN), Enphase Energy (ENPH), Ford (F), Intel (INTC)

• Full earnings calendar here

NEWS BRIEFING

'Verified Human': Worldcoin Users
Queue Up for Iris Scans

Yellen Visits Vietnam, Building U.S. Ties and Supply Chains, and Offset Tensions with China

• Wall Street climbs on Big Tech enthusiasm (more)

• Cracks Inside the Fed Deepen at Crucial Moment in Inflation Fight (more)

• US Dollar steadies ahead of central bank meetings (more)

• Biden administration erases $130 million in student loans for 7,400 borrowers (more)

• UPS, Teamsters reach labor deal to avoid strike (more)

• Home Prices in US Rise for Fourth Month With Inventory Tight (more)

• Deutsche Bank beats expectations despite 27% drop in profit, jump in costs (more)

• Twitter to ‘X’ reflects a step toward Musk’s goal to turn the platform into what he has called an “everything app” (more)

• OpenAI’s ChatGPT app now available for Android (more)

• Music rights giant BMI in renewed talks to sell itself (more)

• AMC Entertainment Is Likely Going To File Chapter 11 (more)

• GM blames supplier for slow EV production (more)

• Harvard faces federal civil rights probe over legacy admissions (more)

• Federal Reserve Platform Will Finally Bring Instant Payments To More Banks–And Customers (more)

• LeBron James’ son rushed to the hospital in cardiac arrest (more)

• Mark Zuckerberg Earns Blue Belt In Preparation for His Cage Match with Musk (more)

DEALFLOW

• Greyhound owner Flix picks JP Morgan, Goldman Sachs, BNP Paribas for $4.4B IPO (more)

• Chubb seeks 49% of India's Kotak General Insurance, has edge over Zurich (more)

• Karat Financial raises $70M from celebs like Will Smith and top VCs to build a bank for creators and artists (more)

• Amazon lowers iRobot deal price by 15% after Roomba maker incurs fresh debt (more)

• IMC acquires Altas Technologies (more)

• Vector Laboratories acquires Quanta BioDesign (more)

• CareDx buys MediGO (more)

• Settle raises $145M credit facility from Silicon Valley Bank (more)

• Nuqleous raises $26M in funding (more)

• A-Alpha Bio raises $22.4M in Series A2 funding (more)

• Immediate closes $16M Growth funding (more)

• Laplace Interventional raises first close of Series B financing of $12.9M (more)

• Akooda raises $11M in Seed funding (more)

• Giraffe raises $10.5M in Seed funding (more)

• K4Connect raises $8.9M in funding (more)

• BioSig AI Sciences raises $2.2M in Seed Funding (more)

CRYPTO

• Sleeping Bitcoin wallet stirs after 11 years, moving over $30M (more)

• Japan PM reaffirms Web3 plans as Binance announces imminent launch (more)

• Stan Lee NFT Collection Sells Out Almost Instantly, Rises 500% (more)

• Wall Street grappling with crypto’s trillion-dollar custody question (more)

• Ethereum software infrastructure provider Flashbots raises $60M (more)

BULLISH BITES

🤖 Master These 8 ChatGPT Prompting Techniques To Unlock Its Full Potential: Most use the tool to rewrite their emails, generate ideas for blog posts and act as a business coach, but many are using ineffective prompting to do so. We didn’t learn it in school — we need to learn it now… (continue)

DAILY SHARES

Stay cool in this heat and see you tomorrow -mb