BEFORE THE OPEN

MARKETS:

• Stock futures dip after recent market rally pause.

• Dow, S&P 500, Nasdaq 100 futures down 0.1%.

• GitLab surges 16% on Q3 beat and strong guidance.

• Nasdaq falls 0.8%, led by tech giants like Nvidia, Intel, Alphabet, and Meta.

• Russell 2000 gains 1% amid hope for Fed rate cuts in 2024.

• Equity gains may be limited in 2024, warns Jason Heller.

• Focus shifts to Job Openings and Labor Turnover Survey report.

EARNINGS

What we’re watching this week:

• Today:

  • AutoZone (AZO) - expected: $31.57 per share (+15% YoY), Revenue: $4.2 billion (+5% YoY)

• Wednesday: ChargePoint (CHPT), Gamestop (GME)

• Thursday: 

  • Broadcom (AVGO) - expected: $10.01 per share (-4.2% YoY) on $8.6 billion revenue (-4.0% YoY)

  • Lululemon (LULU) - expected: $2.28 per share (+14% YoY) on $2.2 billion revenue (+15.8% YoY)

• Full earnings calendar here

NEWS BRIEFING

Bitcoin and Gold are Smashing Through Key Levels — Here's What's Driving the Moves

Spotify to Cut 17% of its Workforce in Third Layoff Round This Year

• Bull market in view after S&P 500 hits fresh year-high (more)

• White House: U.S. could run out of funds for Ukraine aid if Congress doesn't act (more)

• Putin to visit Saudi Arabia, UAE in rare trip outside Russia (more)

• U.S. leads coalition to triple nuclear power by 2050 in effort to address climate change (more)

• Goods deflation is back. It could speed inflation's return to 2% (more)

• Asia stocks fall on cooling Fed bets (more)

• Record number of fossil fuel lobbyists attend COP28 climate talks in Dubai (more)

• Swiss bank hid $5.6 billion of Americans’ money from IRS (more)

• Alaska-Hawaiian billion-dollar merger faces a DOJ that has been skeptical of airline deals (more)

• McDonald's raises China bet, bucking Western firms' derisking trend (more)

• Birkenstock finally tops IPO price while other entrants struggle (more)

• AT&T chooses Ericsson for new U.S telecom network, will drop Nokia (more)

• Private credit is giving investors better returns than private equity (more)

• Southwest, pilots union near a preliminary labor deal (more)

• Virgin Galactic shares plunge after Branson rules out further investment (more)

• Rockstar Games publishes Grand Theft Auto trailer early after it was leaked on X (more)

• Gen Z women spend more on TikTok as app ‘drives consumption (more)

TOGETHER WITH WISER ADVISOR

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DEALFLOW

M & A | INVESTMENTS:

• Roche joins race for obesity drugs with $2.7 billion Carmot deal (more)

• CoreWeave, a specialized GPU cloud provider, has closed a minority investment of $642M (more)

• Blackstone buys Kyoto Hotel from Goldman in $54 million deal (more)

• Thales, a company specializing in cybersecurity technologies, acquired Imperva, a cybersecurity company (more)

• Chai, a provider of a platform for Chat AI, received an investment from CoreWeave (more)

• Francisco Partners, a global investment firm specializing in partnering with technology and media businesses, announced its growth investment and funding of the combination of Hal Leonard, and Muse Group (more)

• Kelso-backed Novvia buys Ocean State Packaging (more)

• Fitch Group completes deal for Bixby (more)

• Beach Point invests in Eurofase (more)

• Mycotopia Therapies buys Philon Labs (more)

• TMTC Merges with eLong Power (more)

• Thales completes acquisition of Imperva from Thoma Bravo (more)

VC

• energyRe, an independent U.S. clean energy developer, raised $1.2 Billion in Capital Raise (more)

• Seismic Therapeutic, a machine learning immunology company, raised $121M in Series B funding (more)

• AssemblyAI, a speech AI company, raised $50M in Series C funding (more)

• EndoQuest Robotics, a medical device company, raised $42M in C-1 funding (more)

• ArmorCode, a company specializing in application security posture management (ASPM) and risk-based vulnerability management (RBVM), raised $40M in Series B funding (more)

• Nth Cycle, a critical metals refining company, raised $37M in Series B and an additional $7M in non-dilutive financing (more)

• AM Batteries, a company working in the field of lithium-ion dry-electrode technologies, raised $30M in Series B funding (more)

• Syrup, an AI-powered planning, buying, and inventory optimization solutions for omnichannel commerce, raised $17.5M in funding (more)

• Rohirrim, a technology company specializing in domain-aware generative AI for the enterprise, raised $15M in Series A funding (more)

• January Technologies, a fintech company humanizing debt collection, raised $12M in Series B funding (more)

• Cytonus Therapeutics, Inc., a biotechnology company discovering and advancing novel medicines enabled by its proprietary Cargocyte™ Drug Delivery Platform, announced the initial closing of its $11.7M Series A preferred financing (more)

• Clever Carnivore, a cultivated meat company, raised $7M in Seed funding (more)

• Trackstar, a provider of an API for warehouse management systems (“WMS”), raised $2.6M in Seed funding (more)

• Allotex Inc. and SpA, a biologics and device company specializing in vision correction therapies, received an investment from Junson Capital (more)

• Digital Health Strategies, Inc., a healthcare-exclusive, data and technology-enabled solutions company, closed a Series A funding round (more)

IPO:

• Panera Bread files to go public again through IPO (more)

FUNDRAISING:

• Intuitive Ventures, an early-stage firm investing in companies reimagining the future of minimally invasive care, closed its second fund, at $150M (more)

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CRYPTO

• Introducing Most Influential 2023: CoinDesk chooses 50 people who defined the year in crypto (more)

• Crypto stocks surge as bitcoin hits fresh 2023 high (more)

• Michael Saylor's Bitcoin bet profit tops $2B (more)

• Tokens linked to Terra shoot 70% on Bitcoin linking, burn program (more)

BULLISH BITES

✅ Tip: Here’s how to invest in gold as it hits an all-time high.

🏆 Winning: The 5 best apps of the year, according to Apple.

🏁 Cutthroat: How Wall Street's notoriously competitive culture is making its youngest recruits feel lonelier than ever.

💃 Karma: A Harvard Professor prepares to teach a new subject: Taylor Swift.

🚛 Robo trucks? The promised wave of autonomous big rigs never materialized.

DAILY SHARES

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