BEFORE THE OPEN

MARKETS:

• Flat stock futures follow three-day market losses

• Fed's signal of prolonged high interest rates rattles investors

• S&P 500 and Nasdaq down 2.7% and 3.5% this week, worst since March

• Dow down 1.6% in the same period

• Bond yields surge with one more rate hike projected for 2023

• 10-year Treasury yield hits 4.498%, highest since 2007; 2-year rate tops 5.2%

• Concerns arise over a potential government shutdown impacting consumer confidence and the economy

EARNINGS

• Full earnings calendar here

NEWS BRIEFING

Rupert Murdoch Steps Down as Chairman of Fox and News Corp.

Wall Street’s ‘Meh’ Response to Tech IPOs Shows Silicon Valley’s Valuation Problem

• Biden announces $325 million military aid package during a White House meeting with Zelenskyy (more)

• 10-year Treasury yield hits its highest level since 2007 as jobless claims decline (more)

• Treasury buyback plan will boost market resilience, US debt official says (more)

• Asia stocks to follow US slump with focus on BOJ (more)

• Chevron and unions agree to end Australia LNG strikes (more)

• JPMorgan says India to be added to emerging markets bond index (more)

• Who is Lachlan Murdoch? What will happen to Fox and News Corp? (more)

  • Lachlan Murdoch’s on-again, off-again relationship with the family business (more)

• Arm dips below IPO price as short sellers circle (more)

• Morgan Stanley’s trading desk sees ‘fragility rising’ in stocks (more)

• AI is policing the package theft beat for UPS as ‘porch piracy’ surge continues across U.S. (more)

• Musk’s Starlink beams to container ships so crews can web surf (more)

• Diners making over $125,000 are spending less at Ruth's Chris and Capital Grille (more)

• Elon Musk is attempting to enlist Taylor Swift’s help to boost traffic on his X platform (more)

• Apple gives out smaller raises to retail employees in post-pandemic slowdown (more)

• Ex-Bridgewater CEO McCormick launches senate run in Pennsylvania (more)

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DEALFLOW

• Coty to move forward with Paris share sale (more)

• Formula 1 launches $1.7 Billion loan repricing in robust market (more)

• Blackstone, Permira explore bid for eBay-backed Adevinta (more)

• Canada’s Stelco Holdings is said to weigh bid for US Steel (more)

• India's Glenmark to sell majority stake in life sciences unit for $680 million (more)

• India's JSW Steel slows process to buy stake in Canada Teck coal unit (more)

• Shell seeks partners for renewable assets in India (more)

• Openly, a homeowners insurance provider, raised $100M in Series D funding (more)

• Ashcroft Capital, a multifamily investment firm, received $50M in growth capital from Temerity Strategic Partners (TSP) (more)

• Inbound Health, a company that enables health systems to offer acute and post-acute care in the home, closed a $30M Series B funding round (more)

• Diligent Robotics, a leader in robotic automation in health care, raised $25M in financing (more)

• Corsair Pharma, a private biopharmaceutical company developing a transdermal treprostinil prodrug, raised $23M in Series B funding (more)

• Jiritsu, a verifiable computing company, raised $10.2M in funding (more)

• Rocket.Chat, a startup that provides an open-source chat platform, raised $ 10M in a Series A “bridge” funding round (more)

• Allocate, a platform that provides investors with a streamlined way to invest and manage private investments, raised $10M in strategic capital (more)

• Rain, a leader in aerial wildfire containment technology, closed a $9.7M seed financing (more)

• Medeloop, a healthtech startup, raised $8M in Seed funding (more)

• Amenities Health, a digital front door platform provider, secured an additional $6.25M in funding (more)

• NorthStar Care, a virtual substance use disorder treatment program, raised $6M in seed funding (more)

• Authentic, a provider of a platform that allows vertical SaaS companies, franchises, and other groups to create captive insurance programs, raised $5.5M in Seed funding (more)

• Virtualness, a mobile-first platform powered by generative AI and blockchain, raised a funding round of undisclosed amount (more)

• Giftpack AI, a corporate gifting platform provider, completed a seed funding round of undisclosed amount (more)

M & A:

• Cisco acquires cybersecurity company Splunk in cash deal worth $28B (more)

• Brightstar Capital Partners buys Douglas (more)

• Bleecker Street Group acquires Ripple (more)

• Enfinity Global purchases CS Energy Solar Assets (more)

CRYPTO

• In Huobi’s HTX rebrand, the echoes of FTX go beyond the name (more)

• Crypto exchange Binance, CEO Zhao ask court to dismiss SEC suit (more)

• Investor loses $4.46 million to Crypto scam a minute after withdrawal (more)

BULLISH BITES

📺 You Can Get Paid $2,500 to Watch Netflix’s Most Popular Shows: Here’s How → CNBC

✏️ Teacher or Cheater? AI’s Role in the Classroom…
When AI enters the classroom, the debate becomes particularly shrill → Nasdaq

🎧 [AUDIO] How the Pandemic Changed the Way We Spend and Invest
When generations undergo any kind of collective life-changing event, it shapes how people think about money and investing. So what will be the effect of the pandemic on current generations? → Bloomberg

DAILY SHARES

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