BEFORE THE OPEN

MARKETS:

• U.S. stock futures near flatline as Israel-Hamas conflict impact assessed.

• Dow Jones futures flat, S&P 500 futures down 0.01%, Nasdaq 100 futures up 0.07%.

• Monday's trading saw stocks initially lower, then turning positive.

• Dow adds 197 points (0.6%), Nasdaq Composite gains 0.4%, S&P 500 adds 0.6%.

• Energy and defense stocks surge as crude prices rise over 4%.

• Hamas-Israel conflict leads to concerns about potential sanctions on Iran affecting global oil supply.

• Investors await NFIB Small Business Survey data, August wholesale inventories, and PepsiCo earnings.

EARNINGS

Here’s what we area watching this week:

• Today: PepsiCo (PEP)

• Thursday: Delta Air Lines (DAL)

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

• Full earnings calendar here

NEWS BRIEFING

Worst US Bond Selloff Since 1787 Marks End of Free-Money Era

Consumers Starting to Buckle for First Time in a Decade, Former Walmart U.S. CEO Bill Simon Warns

• Pentagon pushing U.S. defense industry to bolster Israel in fight against Hamas (more)

• Hamas official says group is open to discussions over truce with Israel (more)

• Here’s what you need to know about the big jobs report Friday (more)

• Long bonds’ historic 46% meltdown rivals burst of dot-com bubble (more)

  • ‘Stay boring’: It’s how bond investors are riding out volatility (more)

  • One bond market is defying the global selloff with record Returns (more)

• Gold holds gains as markets mull rate pause, Middle East Crisis (more)

• Consumers still order french fries with meals, signals good news for U.S. economy (more)

• China targets 50% boost in computing power as AI race with U.S. ramps up (more)

• Bank of America’s wrong-way rate bet hurts Moynihan’s growth pledge (more)

• Hollywood writers ratify new contract with studios (more)

• U.A.W. workers at Mack Truck go on strike (more)

• Google announces new generative AI search capabilities for doctors (more)

• Amazon takes on Starlink with satellite internet launch (more)

• ChatGPT’s mobile app hit record $4.58M in revenue last month, but growth is slowing (more)

• Cruise prices are way up as operators meet surging travel demand (more)

• Activist investor Nelson Peltz seeks board seats at Disney (more)

• How New York City is planning to spend $15 billion raised from a new congestion pricing toll (more)

DEALFLOW

• Regent Craft, a manufacturer of all-electric seagliders, raised $60M in Series A funding (more)

• Viewpoint Ventures, a venture capital firm focused on the future of insurance, launched with the close of its Viewpoint Fund I, at nearly $150M (more)

• Glydways, a company develping an on-demand Personal Rapid Transit (PRT) system, raised $56M in Series B funding (more)

• Sensigo, an AI-powered automotive data platform startup, raised $5M in seed funding (more)

• Class Companion, an AI platform that empowers teachers to give instant, personalized feedback to students, publicly launched with $4M in seed funding (more)

• SpecCheck, a startup that provides optical billing and customer management tools, raised $3.7M in seed funding (more)

• Optilogic, a supply chain network design software company, secured a funding round of undisclosed amount (more)

• CropX Technologies, a company specializing in digital solutions for agronomic farm management, received an investment from Neutre Impact in Series C funding (more)

• First Resonance, a manufacturing software startup, received an investment from Emerson Ventures (NYSE: EMR) (more)

M & A:

• HSBC buys Citi’s $3.6 Billion China retail assets in expansion (more)

• BlackRock, Grain near purchase of Phoenix Tower Stake (more)

• Prosperity Life Group’s SUSA acquires National Western for $1.9B (more)

• Capital Square, Itochu purchase Build-for-Rent Community in Texas (more)

• QHP Capital buys Applied StemCell (more)

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CRYPTO

• U.S. dollar ‘collapse’—shock $8 trillion predicted Fed inflation flip to spark a ‘critical’ Bitcoin, Ethereum, XRP and Crypto price boom to rival gold (more)

• FTX’s Gary Wang tells court Alameda got ‘special privileges’ to exchange’s funds (more)

• 3 reasons why Ethereum price can't break $2K (more)

• Binance launches new domain in UK ahead of new financial promotions regime (more)

• Ripple CTO seeks community consensus for XRPL AMM feature adoption (more)

BULLISH BITES

👞 Birkenstock IPO: Is it Worth $10B? → Trung
And 4 other questions about the 249-year cult German footwear brand.

🚀 Meet the 24 New Startups in Techstars Seattle, as Accelerator Doubles Class Size? → Geekwire
This year’s cohort is made up of industry vets from diverse fields like healthcare and robotics. Founders hail from large tech companies such as Meta, Microsoft, and Nordstrom.

😬 When Startups Lose a Very Early Employee, They May Never Recover → WSJ
A study also found that when an employee hired in the startup’s second year leaves, the impact is minimal.

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