BEFORE THE OPEN

MARKETS:

• U.S. stock futures rise ahead of consumer inflation data.

• Dow futures up 66 points; S&P 500 and Nasdaq 100 futures also higher.

• Major averages saw modest gains on Wednesday, Nasdaq surpasses 50-day moving average.

• Consumer price report for September to provide insight into inflation's impact.

• Strong inflation data could influence the Federal Reserve's rate decision.

• Israel-Hamas war raises concerns of potential oil supply disruption.

• Traders monitor jobless claims data and speeches by Fed presidents Bostic and Collins.

• Earnings season kicks off with reports from Delta Air Lines, Walgreens Boots Alliance, Fastenal, and Domino’s Pizza.

EARNINGS

Here’s what we’re watching this week:

• Today: Delta Air Lines (DAL)

• Friday: Wells Fargo (WFC), BlackRock (BLK), Citigroup (C)

• Full earnings calendar here

NEWS BRIEFING

Fed Officials See ‘Restrictive’ Policy Staying in Place Until Inflation Eases, Minutes Show

A Gilded Age Is Fading for Luxury Brands

• Key takeaways from minutes of Fed's September rates meeting

• (more)

• Republicans nominate Steve Scalise to be House speaker and will try to unite before a floor vote (more)

• Biden weighs freezing $6 billion for Iran after Hamas attack on Israel (more)

• Wholesale inflation rose 0.5% in September, more than expected (more)

• The 5% bond market means pain is heading everyone’s way (more)

• Dollar heads for longest losing streak since 2020 before US CPI (more)

• Largest US banks grapple with worst write-offs in three years (more)

• Birkenstock falls almost 13% as US trading debut flops (more)

• Jeremy Grantham says no one should invest in the US (more)

• Exxon Mobil agrees to buy Pioneer Natural Resources for nearly $60 billion in all-stock merger (more)

• ChargePoint shares fall after EV charging operator announces $232 million raise (more)

• Huawei encroaches on Tesla’s turf, pushing China EV maker up 50% (more)

• Caroline Ellison said SBF considered raising money from Saudi crown prince to repay FTX customers (more)

• Europe gives Mark Zuckerberg 24 hours to respond about Israel-Hamas conflict misinformation (more)

• Harvard ignites backlash over eelayed response to Hamas attack on Israel (more)

• Stellantis, Samsung SDI to build $3.2 billion EV battery plant in Indiana (more)

• JPMorgan's master plan to beat competitors in Silicon Valley (more)

• Alphabet’s AI lab, DeepMind, cut employee costs by nearly 40% in 2022, alongside a drop in profit (more)

• Disney World and Disneyland raise prices for passes and tickets (more)

• Princeton is the top ivy in the WSJ/college pulse ranking (more)

DEALFLOW

• Smucker sells $3.5 billion bond to fund hostess deal (more)

• Goldman strikes deal to sell GreenSky unit to Sixth Street Group (more)

• Shine Technologies, a fusion technology company, raised $70M in funding (more)

• Capital Rx, a pharmacy benefit manager (PBM) and pharmacy benefit administrator (PBA), raised over $50M in funding (more)

• Cleanlab, a provider of an automated data curation solution to increase the value of every data point in enterprise artificial intelligence (AI), large language model (LLM), and analytics solutions, raised $25M in Series A funding (more)

• JetCool, a liquid cooling company for data centers, raised $17M in Series A funding (more)

• Azul 3D, a printing startup, raised $15M in Series A funding (more)

• Conveyor, a provider of an AI-powered platform that streamlines, automates, and scales customer security reviews, raised $12.5M in Series A funding (more)

• Game of Silks, a provider of a blockchain gaming platform, raised $5M in Series Seed 2 funding (more)

• Goodwrx, a company providing a tech-enabled platform that pairs hospitality workers with employers looking to supplement their existing workforce, raised $4M in funding (more)

• Sotai, an artificial intelligence company providing ML models, raised $2M in Seed funding (more)

M & A:

• Capstreet-backed TradePending acquires Fixed Ops Digital (more)

• Sysco buys DON from Vestar Capital (more)

• TPG Rise Climate acquires AmSpec (more)

• SK Capital buys J&K Ingredients (more)

• Parabellum-backed ieDigital purchases Connect FSS (more)

Was this briefing forwarded to you?  (Sign up here.)

CRYPTO

• Bitfinex Crypto exchange owner makes $150 million share buyback offer to hack victims (more)

• Binance rolls out self-trade prevention for spot and margin trading (more)

• Bitstamp’s departure from Canada is ‘timing issue,’ says CEO (more)

• Solana is like iOS, Ethereum like Android: VC firm draws parallels (more)

BULLISH BITES

❓ The War in Israel Shows How Social Media’s Idealistic Era Has Ended? → Bloomberg
X and Meta once aspired to be go-to platforms for reliable real-time information. Each company has abandoned that goal in its own way..

🍿 Only Question for Taylor Swift Film: How Big Will It Be? → NYTimes
The pop star’s concert film, arriving in theaters on Friday, is expected to break box office records. “The fever and scale is unprecedented,” one analyst said.

DAILY SHARES

Like what you see? Subscribe Now

Keep the curation going! Buy the team a coffee ☕️

Have any suggestions for MarketBriefing? We’d love to hear it.
Share your thoughts here -mb