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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↑ 49.18% for Wk of July 11 2024 (Last week: 41.74%)

Market Recap:

• Dow futures flat after best day since June 2023.

• Five Below -10% as CEO departs; Kenneth Bull interim CEO.

• Dow +700 points, record close; S&P +0.64%, Nasdaq +0.2%.

• Russell 2000 +3.5%, fifth straight gain, +10% in July.

• Market optimistic on Fed rate cuts; 100% chance in September.

• Economic data: Fed’s Beige Book, June housing starts, building permits.

EARNINGS

Here’s what we’re watching this week:

• Today: Discover Financial Services (DFS), United Airlines (UAL), US Bancorp (USB)

  • Johnson & Johnson (JNJ) - earnings of $2.50 per share (-2.3% YoY) on $20.6B revenue (-20.6% YoY)

• Thursday:

  • Netflix (NFLX) - earnings of $4.39 per share (+33.4% YoY) on $8.8B revenue (+7.6% YoY)

• Friday: American Express (AXP)

Full earnings calendarhere.

HEADLINES

Andreessen, Horowitz Latest Tech VCs to Throw Support to Trump

Riskiest Stocks Begin an Epic Rotation With Rate Cuts in Sight

• Retail sales report showcases consumer, economic resilience (more)

• Russell 2000 beats Nasdaq 100 by most in decade (more)

• Gold jumps to record as traders ramp up bets on Fed rate pivot (more)

• Oil retreats most in 3 weeks on stronger dollar, weak demand (more)

• Asian stocks to join global rally, Treasuries rise (more)

• Small caps are the hottest trade going in the stock market (more)

• Equity trading crushes estimates for big US banks (more)

• Goldman sells $5.5B of bonds in post-earnings binge (more)

• Musk moving X, SpaceX headquarters from California to Texas (more)

• World’s biggest luxury fortunes lose $17B as market slows

• Car repossessions surge 23% as Americans fall behind on payments (more)

• BuzzFeed rises after Pulte takes activist stake, backs Ramaswamy (more)

• Chinese tycoon Guo guilty in US of $1 billion investor fraud (more)

Nvidia's NEW "Silent Partners"

Many companies partnering with Nvidia have seen their own stocks go up …

That includes ASML, up as much as 471% …

Super Micro Computer, which has surged as much as 3,244%.

And Taiwan Semiconductor, which has soared as much as 4,744%.

With Nvidia now pivoting to a new $1 trillion AI superproject …

A new set of partners appear to be poised to benefit.

Find out who they are right away.

- sponsored message -

DEALFLOW

M+A | Investments

• JPMorgan to buy NYC building in more than $300M deal (more)

• Thai billionaire Sarath to merge energy, telecom businesses (more)

• Adani, Wilmar weigh selling $670M stake in JV (more)

• Oak Hill, OneIM strike $5 billion private credit partnership (more)

• Fnac Darty offers to buy Italy's Unieuro for around $270M (more)

• Intrum signs term sheet for investment deal with Cerberus (more)

• Gravitate, fuel management and energy logistics AI software, received an investment from Falfurrias Management Partners (more)

• Vericent, a sales performance management software company, received a strategic investment of undisclosed amount (more)

VC

• Cardurion Pharmaceuticals, Inc., a clinical-stage biotech company developing next-gen therapeutics for cardiovascular diseases, raised $260M in Series B financing (more)

• Tekion, a cloud-native platform serving the entire automotive retail ecosystem, raised $200M in Growth capital (more)

• Omni Fiber, a regional fiber internet service provider, received $150M in Debt financing from Stonepeak Credit (more)

• Botrista, a data-driven, automated beverage platform provider, raised an undisclosed amount in Series C funding (more)

• Scorpion Therapeutics, a clinical-stage oncology company, raised $150M in Series C funding (more)

• Thyme Care, a value-based cancer care enabler, raised $95M in Series C funding (more)

• DreamBig Semiconductor Inc., a company specializing in high-performance accelerator platforms, raised $75M in Series B funding (more)

• LevelTen Energy, a provider of transaction infrastructure for the energy transition, raised $65M in Series D funding (more)

• DataCore Software, a company specializing in the data infrastructure and management space, raised $60M in funding (more)

• Infinitum, a creator of the sustainable air-core motor, raised $35M in Series E Extension funding (more)

• Heimdall Power, a power grid optimization company for utility companies, raised $25M in Series B funding (more)

• Vectara, a generative AI product platform, raised $25M in Series A funding (more)

• Exa, an AI research lab redesigning search for the AI age, raised $22M in seed and Series A funding (more)

• NovoNutrients, a biotech company transforming CO2 emissions into premium protein, raised $18M in Series A funding (more)

• Mira, a decentralized infrastructure platform to expand access to advanced AI, raised $9M in Seed funding (more)

• Dusk, a platform for building and playing social multiplayer games, raised $8M in funding (more)

• Kins, a provider of a digital-first hybrid care physical therapy practice, raised $7M in Series A funding (more)

• Coldcart, an orchestration and optimization platform for frozen and refrigerated parcel logistics, raised $6.5M in Seed funding (more)

• itselectric, an EV curbside charging company, raised $6.5M in seed funding, bringing its total funding to $11.8M (more)

• Predicta Biosciences, a company developing diagnostic and therapeutic products, raised $5.2M in Seed funding (more)

• Monetary Metals, a gold company, raised over $5M in Equity funding (more)

CRYPTO

• Bitcoin hits $65K shaking off Mt. Gox payout worries (more)

• Crypto options traders can soon target bets on US presidential results (more)

• Spot Ether ETFs are seen starting to trade as early as next week (more)

• After court order, Craig Wright updates website with admission he is not Bitcoin creator Satoshi (more)

BULLISH BITES

🏧 Quick Draw: Using your retirement account as an emergency ATM just got easier.

💰 AI on Fire! How many millionaires will Nvidia mint this year? *

🍎Dream Phone: Apple is finally embracing Android’s chaos.

🥇 For the Gold: Would you swim in the Seine? Paris is hoping Olympic athletes will.

DAILY SHARE

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