Calendar:

• Today: US leading economic indicators, 10:00a ET

• WED, 2/21: Minutes of Fed’s January FOMC meeting, 2:00p ET

BEFORE THE OPEN

Pre-Market:

Market Recap:

• S&P 500 futures flat after first losing week in over a month.

• Nasdaq 100 futures near flat; Dow futures down 0.1%.

• Last week, economic data raised Fed rate cut concerns.

• Nasdaq fell over 1.3%; S&P 500 slipped about 0.4%; Dow lost 0.1%.

• PPI data showed higher-than-expected wholesale prices.

• Shortened trading week with focus on leading index and nonmanufacturing data.

• Home Depot and Walmart earnings due before the bell; Palo Alto Networks after.

EARNINGS

What we’re watching this week:

• Today: Caesars Entertainment (CZR), Palo Alto Networks (PANW), Teladoc (TDOC)

  • Home Depot (HD) - expected: $2.77 per share (-16% YoY) on $34.6B revenue (-3.3% YoY)

  • Walmart (WMT) - expected: $1.64 per share on $170.7B revenue (+4.0% YoY)

• Wednesday: Etsy (ETSY)

  • Nvidia (NVDA) - expected: $4.56 per share, up from 88 cents the year prior. Revenue is forecast to jump to $20.4B from last year's $6.1B.

• Thursday: Intuit (INTU), Live Nation (LYV), Moderna (MRNA), Wayfair (W)

• Friday: Warner Bros. Discovery (WBD)

Full earnings calendar here

HEADLINES

Capital One Acquiring Discover Financial Services

Nvidia Earnings Are Huge Test For AI-Led Market Rally

• Goldman lifts S&P 500 target to 5,200 on profit expansion (more)

• Biden admin doubling down on gas car crackdown (more)

• US to award $1.5B to GlobalFoundries in Chips Act grant (more)

• Retirements spike again as stock market booms (more)

• Magnificent 7 profits now exceed almost every country in the world (more)

• Wall Street banks are trying everything in fight to win underwriting deals (more)

• Cracks start to emerge in global central bank synchronicity (more)

• Systemic risk concerns grow among money managers as real estate woes cause turmoil (more)

• China boosts property funding with first cut in key loan rate since June (more)

• France’s bulging pipeline keeps Paris bankers busy (more)

• Wall Street firms are flip-flopping on climate (more)

• Autoparts giant Forvia to cut 10000 jobs amid shift to EVs (more)

• Nike to cut more than 1,500 jobs in a broad restructuring (more)

• Zuckerberg explains why tech companies are cutting jobs (more)

• Reddit signs AI content licensing deal ahead of IPO (more)

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DEALFLOW

M+A | Investments

• US investor in talks with Superdry co-founder about a bid for the chain (more)

• Polymetal International agrees to sell Russian assets in $3.69B deal (more)

• Australia's Seven Group offers $1.2B for full control of Boral (more)

• Turkey’s Peninsula and Denon merge to form investment bank (more)

• Pipeline owner DT Midstream is evaluating M&A opportunities (more)

• KKR leads financing for Clarience Technologies’ deal for Safe Fleet (more)

• Uniti is in talks to merge with telecom provider Windstream (more)

• Signal AI, a company specializing in reputation and risk intelligence, acquired Social 360, a reputation intelligence monitoring company (more)

• Motorola Solutions (MSI), acquired Silent Sentinel, a provider of specialized, long-range cameras (more)

• Avista Capital Partners buys Terrats Medical from Miura Partners (more)

• WHP Global, Guess? acquire Rag & Bone (more)

• General Atlantic, Stone Point purchase HireRight (more)

• Constantia Flexibles buys 57 percent of shares of Aluflexpack (more)

• Bridge growth-backed Synth buys proceed groups’ Rightsizer Software (more)

VC

• DataBank, a provider of enterprise-class edge colocation, interconnection, and managed cloud services, issued $456M of secured notes (more)

• Overmoon, a provider of a tech-enabled vacation rental platform, raised $80M in Equity and Debt funding (more)

• Flower Labs, a provider of an open-source framework and ecosystem to accelerate the mainstream adoption of federated and decentralized AI, raised $20M in Series A funding (more)

• Rogo, a generative AI company for financial institutions, raised $7M in Seed funding (more)

• BioNeex, a provider of a biopharmaceutical industry’s research and development business development platform, raised $500K in Seed funding (more)

• Pivt, a NYC-based workforce relocation company, raised an undisclosed amount in funding (more)

• Avatar Medical, a company providing a real-time solution for surgeons to engage with patients, raised €5M in Seed funding (more)

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CRYPTO

• Ether could be the next 'institutional darling,' Bernstein says (more)

• Bitcoin steady over $52K;traders target $55K in short-term (more)

• Japan moves to allow investment funds to hold crypto (more)

BULLISH BITES

🎙 Interview: Figma’s CEO on life after the company’s failed sale to Adobe.

👜 Crafting desire: How Hermès sells "time".

🤖 AI boom: Tech leaders fled San Francisco during the pandemic. Now, they’re coming back.

🌠 Disney star turned space CEO: Bridgit Mendler launches satellite data startup backed by major VCs.

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DAILY SHARES

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