BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
51.73% for Wk of Mar 07 2024 (Last week: 46.50%)

Market Recap:

• Stock futures slightly up Mon; focus on inflation data.

• Dow futures gained 30 points, S&P 500 up 0.2%, Nasdaq 100 0.4%.

• Feb CPI report key; expected 0.4% monthly gain, 3.1% yearly.

• January’s CPI rise sparked caution in Fed policy.

• Tech rally slowing; Nvidia, Apple, Alphabet, Microsoft, Tesla down recently.

EARNINGS

What we’re watching this week:

• Wednesday: Lennar LEN, Williams-Sonoma (WSM)

  • Dollar Tree (DLTR) - earnings of $2.65 per share (+29.9% YoY) on $8.7B in revenue (+12.3% YoY)

• Thursday: Dick's Sporting Goods (DKS), Ulta Beauty (ULTA)

  • Adobe (ADBE) - earnings of $4.38 per share (+15.3% YoY) on $5.1B in revenue (+10.3%)

Full earnings calendar here

HEADLINES

Traders Debate Whether Magazine Cover Curse Will Hit Stock Rally

Trump says a TikTok ban would empower Meta, slams Facebook as ‘enemy of the people’

• Biden’s pitches $7.3 trillion budget - callls for tax hikes on the wealthy to pay for Social Security, Medicare (more)

• Long-term inflation expectations rise, spelling possible trouble for the Fed, survey shows (more)

• Emergency Fed bank effort ends lending, as eyes turn to discount window (more)

• 2- and 10-year Treasury yields jump by most in a week ahead of Tuesday’s CPI data (more)

• The global trade system has already started planning for potential Trump win, new China tariffs (more)

• Oil prices steady as Middle Eastern supply concerns ease (more)

• US companies to announce investments of over $1 billion in the Philippines (more)

• China's housing minister says real estate developers must go bankrupt if necessary (more)

• Options players ready for market swings after US inflation data (more)

• Oracle shares soar 13% on better-than-expected quarterly earnings (more)

• Reddit launches long-awaited IPO with $748M target (more)

  • Reddit’s planned IPO share price seems high, unless you look at its AI revenue (more)

• Musk takes another swing at OpenAI, makes xAI's Grok chatbot open-source (more)

• The Body Shop is closing down all US operations after filing for bankruptcy (more)

• Deadspin sold by G/O Media, employees laid off with half-hour's notice (more)

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DEALFLOW

M+A | Investments

• Murdoch's News Corp eyes joint Telegraph bid with rivals (more)

• Choice Hotels abandons roughly $7B takeover bid for Wyndham (more)

• Abu Dhabi targets $100 Billion AUM for AI investment firm (more)

• Astorg considers sale of IP software firm Anaqua (more)

• India's Aditya Birla Capital to merge with financial unit (more)

• KKR acquires Mdf Commerce (more)

• PAR Technology Corporation (PAR), a foodservice tech company and provider of unified commerce for enterprise restaurant brands, acquires Stuzo (more)

• Foundation Investment Partners acquires Spartan Tool Supply (more)

• RTC-backed Verdantas acquires Lewandowski Engineers (more)

• UWorld purchases Aspen Publishing from Transom (more)

VC

• Liquid Death, a beverage company, raised $67M in funding (more)

• Serenity Kids, a shelf-stable pouched baby food brand, closed a $52M in minority investment from Stride Consumer Partners (more)

• Vouch, a provider of business insurance for high-growth companies, raised $25M in Series C-1 funding (more)

• Reach Security, a company providing AI solutions for security operations, raised $20M in funding (more)

• Neural Propulsion Systems, a software-defined radar company, raised $17.5M in Series B funding (more)

• Kaedim, a startup dedicated to streamlining the 3D creative process for game developers and interactive entertainment creators, raised $15M in Series A funding (more)

• Guardrails AI, an AI assurance company, raised $7.5M in Seed funding (more)

• Bluwhale, an AI Web3 startup, raised $7M in Seed funding (more)

• AbbeyCross, a wholesale FX platform focused on improving the payment market infrastructure, raised $6.5M in seed funding (more)

• Key, a community and networking platform provider, raised $4.3M in funding (more)

• Velou, a product data enrichment and search automation platform, raised $4M in sed funding (more)

• Cherub, a US provider of a platform to connect founders, investors and advisors, raised $1M in funding (more)

• DocNow, a provider of electronic health record management solutions, raised an undisclosed amount in Seed funding (more)

• COMM, a marketing agency specializing in digital marketing strategy and solutions, received an investment from RTC Partners (more)

• MAXE AI, a provider of an AI investing assistant app, raised an undisclosed amount in Seed funding (more)

• Neuron7.ai, a company specializing in AI for service, received a strategic investment from ServiceNow Ventures (more)

CRYPTO

• Bitcoin breaks through $72,000 to hit fresh record (more)

• MicroStrategy acquires 12,000 More BTC with convertible senior notes proceeds (more)

BULLISH BITES

💰 New rule: Airbnb finally overturns its creepiest policy.

👀 Cyber threats: Four things we learned when US spy chiefs testified to Congress.

🏆 New start: TikTok creators look for a new home as threat of US ban gains steam.

🤔 Royal drama: British monarchy rocked by bad Photoshop job.

🚨 From our partner: Don't trust the mainstream media – take charge of your destiny. Our No-Cost Wealth Management Guide is your ultimate survival kit in this economic war. *

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DAILY SHARES

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