BEFORE THE OPEN

PRE-MARKET:

MARKETS:

• Flat U.S. stock futures post 3rd Dow losing day.

• Dow futures down 0.01%, S&P 500 -0.04%, Nasdaq 100 -0.09%.

• Discover -7% despite Q4 revenue beat.

• Wednesday: Dow -0.25%, S&P 500 -0.56%, Nasdaq -0.59%.

• 10-year Treasury yield above 4.1% raises rate cut concerns.

• Markets eye March rate cut with 56% probability.

• Today: jobless claims, housing starts, building permits, Bostic speech.

EARNINGS

What we’re watching this week:

• Today: Charles Schwab (SCHW)

  • Kinder Morgan (KMI) - expected: $.30 per share (-3.2% YoY) on $4.4 billion revenue (-3.7% YoY)

• Friday:

  • Travelers (TRV) - expected: $5.00 per share (+47% YoY) on $10 billion revenue (+13.1% YoY)

Full earnings calendar here

HEADLINES

Blinken Stranded After Boeing 737 Breaks Down on Davos Trip

Spirit Airlines Shares Sink 20% in Second Day of Losses After Judge Blocks JetBlue Merger

• 10-year Treasury yield hits five-week high after strong retail sales data (more)

• Retail sales rose 0.6% in December, topping expectations for holiday shopping (more)

• Biden proposal could drop overdraft fees to as low as $3 (more)

• Homebuilder sentiment improves for second straight month, following drop in mortgage rates (more)

• Sorry, millennials, Gen Zers are coming for boomers’ houses (more)

• Red Sea crisis could last a year with Houthi attacks ‘just increasing’ (more)

• Jamie Dimon warns ‘all these very powerful forces’ will impact U.S. economy in 2024 and 2025 (more)

• Sheryl Sandberg is leaving Meta’s board (more)

• Apple Watch sales ban restarts Today (more)

• Apple faces US antitrust lawsuit as soon as March (more)

• Samsung packs newest Galaxy S24 smartphones with AI functions to beat Apple (more)

• JPMorgan to hire this year on wealth, dealmaking revival (more)

• Google CEO says more job cuts are needed in 2024 in order to reach ‘ambitious goals’ (more)

• Bayer unveils significant job cuts as part of broader revamp (more)

• 'Wake-up call' for EV owners — unable to charge in deep freeze (more)

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DEALFLOW

M & A | INVESTMENTS

• Holcim’s Europe head says firm looking at 20 small acquisitions (more)

• Japan's Mizuho hunting for deals to bolster asset management business (more)

• Italy clears Telecom Italia’s €22 billion grid sale to KKR (more)

• Indian govt to sell up to 3.5% stake in NHPC (more)

• Visa (V) completed its acquisition of Pismo, a global cloud-native issuer processing and core banking platform (more)

• GoPro (GPRO) acquired Forcite Helmet Systems, a company specializing in embedding technology into helmets (more)

• Accel-KKR announced that it’s reached an agreement with American Express (AXP) to acquire Accertify, a wholly owned subsidiary that provides fraud prevention, chargeback management, account protection, and payment gateway solutions (more)

• CIVC Partners, L.P., a middle market private equity firm focused on investments in the business services sector, acquired Datavail Corp., a data managed services provider, from a group of growth investors led by Catalyst Investors (more)

• Parse Biosciences, a provider of accessible and scalable single cell sequencing solutions, acquired Biomage, a data analysis software company (more)

• TRC purchases Locana from Transom and Angeleno Group (more)

• HATCo, a new healthcare venture capital firm, to acquire Summa Health (more)

• Snyk, a developer security company, acquired Helios, a leader in capturing application runtime data (more)

• FEP acquires Precision Garage Door Service (more)

• Wind Point Partners buys MOREgroup (more)

• Apprio, a provider of specialized healthcare technology solutions and services for hospitals and health systems with a focus on automized solutions, received an investment from HCAP Partners (more)

• Blueshift, a company that helps brands automate and personalize engagement across every marketing channel using AI, received a $40M growth investment from Runway Growth Capital (more)

• MidOcean Partners invests in The Re-Sourcing Group (more)

VC

• Noctrix Health, Inc., a medical device company, closed a $40M Series C financing (more)

• Panacea Financial, a financial technology company dedicated to providing financial services to doctors and doctors’ practices, raised $24.5M in Series B funding (more)

• ZymoChem, a provider of a carbon-efficient bio-manufacturing platform, raised $21M in Series A funding (more)

• Granata Bio, a biopharma company focused on the infertility medication market, raised $14M in Series A funding (more)

• Oxford Medical Simulation, a company specializing in virtual reality healthcare training, raised $12.6M in Series A funding (more)

• Cyrano Therapeutics, a regenerative medicine company, raised $9.0M in Series B funding (more)

• Palm Tree Crew, an entertainment, hospitality, and investment holding company, recently closed a $6M funding round at a $150M valuation (more)

• Tandem PV, a company specializing in perovskite solar technology, raised additional $6M in funding (more)

• Second Front Systems, a corporation accelerating the delivery of mission-critical solutions in the US/Europe/Australia/NATO, received an investment from Booz Allen Ventures, the venture capital arm of Booz Allen Hamilton (BAH), NEA and Moore Strategic Venture (more)

FUNDRAISING

• Thomvest Ventures, an SF-based venture capital firm, closed a new $250M fund (more)

• RidgeLake Partners closes $1.1B inaugural GP Stakes Fund (more)

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CRYPTO

• Cathie Wood’s Ark buys its own Bitcoin ETF (more)

• Jamie Dimon says he’s done talking about bitcoin: ‘I don’t care’ (more)

• Bitcoin ETF net inflows near $1B after three days (more)

BULLISH BITES

📈 True/False: What’s the ‘January effect’ for stocks? Is it real?

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DAILY SHARES

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