📈 Quantum computing may soon leapfrog today's technology in the same way the microchip decimated room-sized conventional computers.

And one tiny $800 million firm could hold the keys to this total disruption.
- Behind The Markets

🟩🟩🟩🟩🟩🟩 📈 BULLISH 62%
🟨🟨🟨🟨⬜️⬜️ 📉 BEARISH 38%
Results from Sunday’s poll

Comments:
📉 “Two years of 20% plus growth is unsustainable for a third year. P/E ratios are at all-time highs. M2 money supply is just now recovering from COVID, so most of the activity preceding ~October '24 is anomalous. Yield curve is still inverted, in the short term. Commercial real estate defaults and refinancings are still pending, possible causing serious financial woes in big cities; without interest rate relief, defaults could be tragic. China is getting ready to flood the market with cheap goods, from air conditioners to cars. Stagflation is on the way.”
📈 “I think in the short run the market will be volatile but over the continuation of the year I suspect it will be better.”
📉 “Bond market says so!”

BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 34.67% for Week of January 09 2025

Market Wrap:

• Stock futures flat ahead of data-heavy week.

• Last week: Dow, S&P -1.9%, Nasdaq -2.3%.

• Key reports: CPI (Wed), PPI (Tue), big banks' earnings start Wed.

• Fed likely to hold rates steady amid inflation concerns.

EARNINGS

Here’s what we’re watching:

• Wednesday: Blackrock (BLK), Citigroup (C), Goldman Sachs (GS), Wells Fargo, (WFC)

  • JP Morgan Chase (JPM) - earnings of $4.04 per share (-7.6% vs Q3 and up 32.9% from Q4 2023) on $41.5B revenue

• Thursday: BofA (BAC), Morgan Stanley (MS)

  • UnitedHealth (UNH) - earnings of $6.75 per share (+9.6% YoY) on $101.8B revenue (+7.7% YoY)

• Friday:

  • SLB (SLB) - earnings of $.90 per share (+4.7% YoY) on $9.2B revenue (+2.2% YoY)

Full calendar here »

HEADLINES

Global Bond Tantrum Is a Wrenching and Worrisome Start to New Year

Inflation Report Could Rattle Markets After Bond Yields Climb

• Biden delays enforcement of order blocking Nippon Steel, U.S. Steel deal (more)

• IMF chief sees steady world growth in 2025, continuing disinflation (more)

• Surprising Dec US payrolls jump supports longer Fed pause (more)

• Towering dollar after solid jobs data leaves peers struggling (more)

• Oil hits more than 3-month high as US sanctions hit Russia exports (more)

• US sanctions on Russian oil to hit China and India hard (more)

• China, UK resume economic talks after 6-year hiatus (more)

• Trump’s new economist makes the case for 20% tariffs (more)

  • Jamie Dimon says tariffs can help resolve competition, security issues (more)

• US bank regulator gives BlackRock February deadline on bank stake (more)

• Zuckerberg slams Apple on its lack of innovation and ‘random rules’ (more)

• Bezos sees no threat from Musk-Trump ties in space race (more)

A MESSAGE FROM BEHIND THE MARKETS

AI is converging with another breakthrough technology...

Which could cause a second wave of massive AI profits.

Already, we've seen stocks in a tiny AI subsector soar 133% in 15 days...

496% in 10 weeks...

And 604% in 8 weeks.

So if you've missed out on the first wave of big AI profits...

Get in on the second wave of big winners here >>>

Simmy Adelman, Publisher
Behind the Markets

DEALFLOW

M+A | Investments

• J&J in talks to buy $10 billion biotech Intra-Cellular (more)

• Blackstone mulls $4 bln-plus sale of Liftoff (more)

• Bain Capital raises bid for Australia's Insignia to $1.8B, matches CC Capital (more)

• Biogen proposes buying remaining stake in Sage in $442M deal (more)

• Intercontinental Exchange, a global provider of tech and data, acquired the American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American financial institutions (more)

VC

• Origis Energy, a renewable energy and decarbonization solution platform, raised $415M in funding package for the Swift Air Solar project in Texas (more)

• Innovaccer Inc., a healthcare AI company, raised $275M in Series F funding round (more)

• Timberlyne Therapeutics, a clinical-stage biopharma company focused on the development of autoimmune therapies, raised $180M in Series A funding (more)

• Ouro Medicines, a biotech company developing immune reset therapeutics, launched with $120M in Series A funding (more)

• A2 Biotherapeutics, a clinical-stage cell therapy company developing logic-gated cell therapies, raised $80M in Series C funding (more)

• Light Horse Therapeutics, a developer of small molecule therapeutics, raised $62M in Series A funding (more)

• Air, a purpose-built platform for creative operations, raised $35M in Series B funding (more)

• PrettyDamnQuick, an operational data platform for profitable commerce, raised $25M in Series A funding (more)

• RLTYco, a provider of comprehensive resources for real estate professionals, raised $20M in Series A funding (more)

• RheumaGen, a cell and gene therapy company, raised $15M in Series A funding (more)

• Nema Helath, a solution for virtual trauma and PTSD care, raised $14.5M in Series A funding (more)

• Biosphere, a startup developing advanced bioproduction systems, raised $8.8M in Seed funding (more)

• Prudentia Sciences, an AI-powered technology platform for life sciences, raised $7M in funding (more)

• Abstract, an AI company developing a legislative and regulatory platform, raised $4.8M in Seed funding (more)

CRYPTO

• Bhutan's crypto reserve could pave way for economic growth in other countries (more)

• Bitcoin January slump nothing new in ‘post-halving years’ (more)

• Biden's consumer watchdog pushes for last-minute stablecoin rule (more)

BULLISH BITES

🚀 Missed NVIDIA? Next big AI opportunity here  *

😔 The psychological toll of California's catastrophic fires.

📈 Dozens of Congress members outperformed the stock market in 2024. Here’s who gained the most - and why.

👍 After nearly 100 episodes, here are the five best pieces of founder advice I learned as a host of Found.

🚷 Detour: Massachussetts road signs.

DAILY SHARES

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