BEFORE THE OPEN

PRE-MARKET:

MARKETS:

• Dow reaches new record, up 138.01 points.

• S&P 500 and Nasdaq also hit fresh all-time highs.

• Macy’s rejects $5.8B private takeover proposal, shares rise.

• SolarEdge announces layoffs, stock climbs approximately 4%.

• Archer-Daniels-Midland plunges over 24% on weak earnings guidance.

• B Riley Financial faces investigation tied to securities fraud.

• Wall Street's strength tied to Fed’s handling of inflation and economic cooling.

• Traders scale back Fed rate cut expectations for March.

• Key economic reports this week may Fed's monetary policy outlook.

EARNINGS

What we’re watching this week:

• Today: 3M (MMM), Johnson & Johnson (JNJ), Procter & Gamble (PG)

  • Netflix (NFLX) - expected: $2.22 per share. Revenue is forecast to rise +11% YoY to $8.7 billion

• Wednesday: AT&T (T), Kimberly-Clark (KMB),

  • Tesla (TSLA) - expected: $.74 per share (-37.8% YoY) on $25.6 billion revenue (+5.2% YoY)

• Thursday: Alaska Air (ALK), American Airlines (AAL), Blackstone (BX), McCormick (MKC), Visa (V)

  • Intel (INTC) - expected: $.45 per share. Revenue is forecast to land at $15.2 billion (+7.9% YoY).

• Friday: American Express (AXP)

Full earnings calendar here

HEADLINES

S&P 500 Hits New All-Time High, Builds on Bull-Market Run

India Overtakes Hong Kong as World’s Fourth-Largest Stock Market

• Wall Street opposition to Trump collapses, as ‘pipe dream’ of primary defeat ends (more)

  • Trump-linked stocks soar after DeSantis throws in the towel (more)

• The Fed's big miss on inflation has doomed the US to recession this year, top economist says (more)

• Morgan Stanley, JPMorgan say buy the dip after Treasury rout (more)

• Repo market may throw a fit, spur Fed to action (more)

• SEC probes B. Riley deals with client tied to failed fund (more)

• Investment bankers are starting to see Mexico as a money spinner (more)

• Western Digital (WDC) surges replacing Nvidia as Morgan Stanley's top pic (more)

• Boeing faces more pressure as United CEO vents frustrations (more)

• Cargo theft spiked over 57% in 2023 vs. 2022 (more)

• Voice cloning startup ElevenLabs lands $80M, achieves unicorn status (more)

• Years of PR disasters led to a major change for Facebook, and news sites are paying the price (more)

• TikTok cuts jobs as tech layoffs continue to mount (more)

• Alphabet’s Moonshot X Lab cuts staff, turns to outside investors (more)

• LVMH’s Arnault set to propose sons Alexandre, Frederic for company’s boardl (more)

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DEALFLOW

M & A | INVESTMENTS

• Macy’s urged by Arkhouse to open books after rejecting takeover bid (more)

• Sony ends $10B merger with India's Zee (more)

• Sunoco to buy NuStar Energy in $7.3B deal as it expands midstream business (more)

• Archway Dental Partners, a provider of a dental platform, received an investment from Martis Capital, and Din Ventures (more)

• PowerSchool (PWSC), provider of cloud-based software for K-12 education in North America, acquired Allovue, a provider of K-12 financial planning software in the US (more)

• Service Compression, LLC, a provider of natural gas compression services, closed a preferred equity investment from Warburg Pincus, through its Capital Solutions Founders Fund (more)

• Bloom Nutrition, a provider of health supplements, received $90M in financing (more)

• Deloitte buys Giant Machines (more)

• Gas station owner Sunoco buys NuStar Energy for $7.3B (more)

• Goldman-backed Nextiva buys contact center firm Thrio (more)

• PE-backed RoadSafe purchases B.C. Cannon (more)

• MAI Capital Management buys WaterStone Investment Counsel (more)

• Gryphon-backed Kano acquires Super Lube and Synco Brands (more)

VC

• Talofa Games, a gaming studio developing social fitness games, reportedly raised $6.3M in Seed funding (more)

• Tandem, a provider of an app for couples to manage their finances together, raised $3.7M in seed funding (more)

• 3Daughters, a clinical development company, raised over $2M in first tranche of Seed funding (more)

• Bolt Navigation, a developer of Handheld Surgical Navigation systems, closed its Series B financing (more)

FUNDRAISING

• Wynnchirch Capital, a middle market private equity firm, closed its sixth private equity fund, Wynnchurch Capital Partners VI, at $3.5B (more)

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CRYPTO

• FTX estate sold majority of bankrupt exchange’s Grayscale Bitcoin Trust shares (more)

• Bitcoin slides below $40K, now down nearly 20% from post-ETF euphoria (more)

• Terraform Labs files for Chapter 11 bankruptcy (more)

BULLISH BITES

🐝  Social buzz: Mr Beast nearing $100 million TV deal With Amazon.

🚘 Must-see: Ford’s impressive new 48-inch digital dashboard is a lot of Android for one car.

😤 Powershift: The end of workplace loyalty—can it be repaired?

🤖 AI-nxiety: This MIT study says AI won't take my job. But it doesn't make me feel too sure that AI won't take my job.

🙌 One app to replace them all: Get everyone working in a single platform designed to manage any type of work. Try ClickUp now -- it's Free »

DAILY SHARES

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