BEFORE THE OPEN

MARKETS:

• Flat stock futures ahead of the Fed's September policy meeting

• Dow futures up 0.04%, S&P 500 and Nasdaq 100 futures up 0.06% and 0.08%

• Previous session saw mostly flat performance; S&P 500 up 0.07%, Nasdaq up 0.01%, Dow up 0.02%

• Expectation of no rate hike this month; 34% chance of hike in November

• Energy sector leads gainers, while consumer discretionary lags

• Today's economic data includes preliminary building permits, housing starts, and AutoZone earning

EARNINGS

• Wednesday: FedEx (FDX)

• Thursday: Darden Restaurants (DRL)

• Full earnings calendar here

NEWS BRIEFING

The Trillion-Dollar Finance Industry Powering Chicago Is at Risk of Leaving

Joby Aviation to Build ‘Flying Taxi’ Production Plant in Ohio

• Bond market at risk of third annual loss needs a dot-plot rescue (more)

• How auto executives misread the UAW ahead of historic strike (more)

• California governor says he will sign climate bill on companies and carbon footprints (more)

• Salary transparency law goes into effect across New York state (more)

  • Salary transparency is sweeping across the US (more)

• Erdogan asks Musk to build Tesla factory in Turkey (more)

• Carry trade mints 42% profit and sparks push into new market (more)

• Instacart’s long-awaited IPO to test CEO’s pivot, market rebound (more)

• Elon Musk says Twitter, now X, is moving to monthly subscription fees and has 550 million users (more)

• MBAs are spurning McKinsey to buy small companies (more)

• DirecTV and Nexstar reach multi-year distribution agreement (more)

• Amazon confirms dates for second Prime Day sale in October (more)

• Google and the Defense Department are building an AI-powered microscope to help doctors spot cancer (more)

• Retailers are losing $100 billion a year from return fraud, bots and coupon stacking (more)

• Salesforce turns to ‘boomerangs,’ luring back former execs to help reignite growth (more)

• TikTok Shop is a real e-commerce threat (more)

• Tencent investors Naspers and Prosus announce abrupt departure of CEO Bob van Dijk (more)

• Unity overhauls controversial price hike after game developers revolt (more)

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DEALFLOW

• Bluestone equity partners invests in RWS Global (more)

• Carlyle-backed Litmus partners with Katy Perry (more)

• Gryphon Investors forms thermal technology distribution solutions (more)

• India's Torrent Pharma in talks with CVC, Bain Capital for Cipla bid (more)

• UAE’s Julphar explores sale of mideast chain Planet Pharmacies (more)

• Spanish airline Volotea hires Morgan Stanley, Barclays to ready IPO (more)

• Actis kick offs sale of casual dining chain Java House (more)

• Nephron Pharmaceuticals, a provider of inhalation solutions and suspension products, raised $350M in funding (more)

• Indigo Ag, an agtech company focused on sustainability, raised $250M in funding (more)

• Dragos, a company specializing in cybersecurity for industrial controls systems (ICS)/operational technology (OT) environments, raised additional $74M in Series D extension funding (more)

• Levelpath, a provider of a procurement platform, raised $44.5M in Seed funding (more)

• The Sporting News, a sports media and sports publisher, raised $15M in funding (more)

• Mojave, a provider of liquid desiccant systems, raised $12.5M in funding (more)

• LastMile AI, a company focused on building an accessible and production-ready AI developer platform for software engineers, raised $10M in seed funding (more)

• Hearth, a provider of digital whiteboards for families to handle tasks, reportedly raised $4.7M in funding (more)

• Roam, a real-estate company, raised $1.25M in seed funding (more)

• Favs, a developer of an app for people to maintain connections with one another, reportedly raised nearly $1M in seed funding (more)

• ZeroAvia, a hydrogen-electric aviation company, raised an undisclosed amount in funding (more)

• FastWave Medical, a medical device company, closed a multi-million dollar private financing (more)

• Hub International, a global insurance broker and financial services firm, received a minority investment from Leonard Green & Partners, along with several other institutional minority investors (more)

M & A:

• KKR to acquire stake in SingTel's regional data center unit for $807 million (more)

• ACP-backed E Source buys Utilligent (more)

• Ontario Teachers’ acquires KKR’s stake in GreenCollar (more)

• Parthenon-backed Cherry Bekaert acquires Cordia (more)

• Bernhard Capital-backed Allied Power acquires Dominion Engineering (more)

CRYPTO

• Citi debuts deposit and trade services on blockchains for institutional clients (more)

• Crypto funds see almost $500 million in outflows over nine weeks (more)

• Ripple CEO: The billion-dollar problem that will make XRP the next Bitcoin (more)

BULLISH BITES

🤖 How AI Is Supercharging Financial Fraud–And Making It Harder To Spot → Bloomberg

🎲 Vegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the Making → CNBC

DAILY SHARES

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