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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 39.04% for Wk of May 30 2024 (Last week: 47.04%).

Market Recap:

• Futures flat ahead of today’s payroll report.

• Dow futures +67 points (0.18%), Nasdaq +0.17%, S&P +0.13%.

• Regular trading: Dow +0.20%, S&P -0.02%, Nasdaq -0.09%.

• Today: May payrolls; expect 190,000 jobs added, 3.9% wage growth.

• Slowing economy may support Fed rate cuts.

• Fed decision on rates next week; 70% chance of easing in September.

EARNINGS

What we’re watching this week:

• Today: Big Lots (BIG), DocuSugn (DOCU), Nio (NIO)

  • Ciena (CIEN) - earnings of $0.15 per share (-79.7% YoY) on $894.9M revenue (-20.8% YoY)

Full earnings calendar here.

HEADLINES

GameStop Rally Sends Keith Gill’s Shares to $1B Upon Scheduled YouTube Return

US Jobs Report Is Set to Confirm a Steady Slowdown Underway

• US weekly jobless claims edge higher, Q1 labor costs revised lower (more)

• US regulators to open antitrust probes into Nvidia, Microsoft and OpenAI (more)

• Janet Yellen warns AI in finance poses ‘significant risks’ (more)

• ECB cuts interest rates for the first time since 2019 (more)

• Asia shares set for weekly gain on rate-cut rally (more)

• China's May exports pick up pace, top forecast in boost to economic recovery (more)

• Oil edges higher on OPEC+ reassurances but set for third weekly loss (more)

• Short bets against Nvidia stand at $34 billion (more)

• Tracking app company Life360 goes public (more)

• ValueAct increases Salesforce stake to nearly $1 billion, sending shares up (more)

• Musk could exit without 'motivating' pay deal, Tesla Chair warns (more)

• Apple to debut passwords app in challenge to LastPass (more)

• Starbucks teams up with Grubhub to reverse sales slump (more)

• Bernard Arnault names son Frédéric at top of LVMH family holding group (more)

DEALFLOW

M+A | Investments

• Robinhood acquires Bitstamp Ltd., a global crypto exchange (more)

• Michael Bloomberg joins A-Rod Group trying to buy Timberwolves (more)

• MNC Capital raises offer to acquire Vista Outdoor to over $3 billion (more)

• Humane, the startup behind the AI Pin, in talks with HP, Telecoms to sell (more)

• Chronus, a development platform offering mentorship and ERG management, acquired Imperative, an employee engagement platform (more)

• Tenable, an exposure management company, acquired Eureka Security, provider of data security posture management for cloud environments (more)

• Fixle, provider of home solutions in the proptech and insurtech sectors, acquired EasyHome, a developer of software solutions designed to modernize property care and management (more)

• Wesco International, a provider of B2B distribution, logistics, and supply chain solutions, acquired entroCIM, data center and building intelligence software (more)

• Sirion, a contract lifecycle management company, acquired Eigen Technologies, a document AI company for financial services (more)

• Whizz, an e-bike subscription platform for last-mile delivery drivers, raised $12M in Series A funding (more)

VC

• Vilya, a biotech company creating medicines that precisely target disease biology, expanded its Series A funding to $71M (more)

• restor3d, a company specializing in 3D printed, personalized orthopedic implants, raised $70M in funding (more)

• Twelve Labs, a video understanding company, raised $50M in Series A funding (more)

• Nium, a global leader in real-time cross-border payments, raised $50M in Series E funding round (more)

• Eko Health, a company applying AI for early detection of heart and lung diseases, raised $41M in Series D funding (more)

• Advanced Medicine Partners, developer of innovative advanced medicines, received an additional $32M in financing (more)

• LiveKit, a platform for building and scaling voice applications, raised $22M in Series A funding (more)

• Tobiko Data, a data infrastructure startup, raised $21.8M in funding (more)

• Vantage Discovery, a search and content discovery platform for ecommerce, raised $16M in Series A funding (more)

• Understory, an insurance platform protecting industries from severe weather risk, raised $15M in Series A funding (more)

• SiTration, a materials recovery company, raised $11.8M in Seed funding (more)

• HyperSpectral, a spectral intelligence company, raised $8.5M in Series A funding (more)

• Testsigma, an AI-powered, low-code test automation platform, raised $8.2M in funding (more)

• Inventive, a startup building embedded AI for SaaS products, raised $6.5M in Seed funding (more)

• Liminal, a company specializing in horizontal gen AI data security, raised additional $5M in funding (more)

• Hoop, an AI task management platform, raised $5M in Seed funding (more)

• Wevr, a creative production studio, $3.5M in funding (more)

• Field Materials, a provider of AI software to control and verify construction and equipment spending, raised additional $3.5M (more)

• Envisagenics, a biotech company developing of novel RNA splicing therapeutics, raised a Series B fundraising round (more)

CRYPTO

• Robinhood to buy crypto exchange Bitstamp in effort to expand outside the US (more)

• GameStop-inspired Solana memecoin soars over 80% as Roaring Kitty flashes $586M GME position (more)

• Crypto exchange Kraken in talks for pre-IPO fund raising round (more)

BULLISH BITES

⭐️ Rockstar: Nvidia CEO Jensen Huang, who has seen his wealth top $100 billion, sparks "Jensanity" in Taiwan.

💼 Stretching: Lululemon is coming to an office (and golf course) near you.

📈 Opportunity: Join Google and Amazon in backing AI drug discovery. *

🤑 Pursuits: Ultra-rich families fuel $20 billion private equity buyout wave.

🤖 Inside Look: How Apple fell behind in the AI arms race.

DAILY SHARE

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