BEFORE THE OPEN

MARKETS:

• S&P 500 futures dip slightly after extending winning streak.

• Disney's stock up 3% in after-hours trading due to strong profit report.

• Lyft shares down 2% due to disappointing bookings and ongoing struggles expected.

• S&P 500 achieves eight-day winning streak, Nasdaq hits nine days, while Dow snaps seven-day run.

• Technology stocks continue to lead amid interest rate considerations.

• Jobless claims data and remarks from Fed officials, including Chair Jerome Powell, in focus this morning.

EARNINGS

What we’re watching:

• Today: Tapestry (TPR)

• Full earnings calendar here

NEWS BRIEFING

Griffin Says Peace Dividend Over, High Inflation to Last Years

Eli Lilly Wins FDA Nod for Obesity Drug That Rivals Wegovy, Ozempic

• DeSantis vows to ‘rein in’ Federal Reserve during Republican cebate (more)

• Republican Presidential candidates vow to ban TikTok during debate (more)

• US Senate votes to reject 'Buy America' EV charging waiver (more)

• DOJ announces arrests in ‘high-end brothel network’ used by elected officials, military officers and others (more)

• Mortgage rates plunge and demand finally inches back (more)

• VIX notches its longest slide since October 2015 (more)

• China slips back into deflation as recovery remains fragile (more)

• UAW to 'pull out all stops' organizing nonunion automakers (more)

• Caesars averts strike in deal with Las Vegas unions (more)

• Pressure grows on US Treasury to salvage trucking giant Yellow (more)

• Arm reports first post-IPO earnings and the stock is down 7% (more)

• Amazon to offer lower-cost primary care to Prime members in latest healthcare push (more)

• OpenAI’s ChatGPT back online after ‘major’ outage (more)

• Disney expands cost-cutting plan by $2 billion (more)

• Amazon cuts jobs in music streaming unit (more)

• Virgin Galactic pausing flights next year and laying off 18% to focus on next-gen spacecraft (more)

• Private equity showers junior staff with rewards to retain talent (more)

• Gambino family Mafia crackdown: 16 arrests by New York feds and Italian authorities (more)

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DEALFLOW

• Harvest Partners, a private equity firm, closed Harvest Partners IX, L.P., at over $5.3 Billion (more)

• Platinum Equity nears $3 billion-plus deal for Kohler Unit (more)

• IBM (NYSE: IBM) is launching a $500M venture fund (more)

• Black Ore, a provider of an AI platform for financial services, raised $60M in funding (more)

• Forward Therapeutics, a biopharmaceutical company developing small molecule therapies for chronic immunological and inflammatory disorders, raised $50M in Series A funding (more)

• L-Nutra, a nutri-technology company, raised $47M in first tranche of its Series D funding (more)

• Ascidian Therapeutics, a biotechnology company focused on treating human diseases by rewriting RNA, raised $40M in Series A extension funding (more)

• Niron Magnetics, a company specializing in rare earth-free permanent magnets, raised $33M in funding (more)

• Influence, a provider of a platform for venture investing, raised US $20.8M in Seed funding (more)

• Fillogic, a provider of a technology Channel-Free Logistics platform, raised $13M in Series A funding (more)

• Sift, a telemetry tool-based startup, raises $7.5M in funding (more)

• Protecto, a provider of a data privacy solution across the AI lifecycle, raised $4M in Seed funding (more)

• Osmo, a machine olfaction startup, received a $3.5M grant from the Bill & Melinda Gates Foundation (more)

• Yee-Haw Monster Trucks, a gaming studio building a new kind of virtual world built and governed by players, raised $3.3M in seed funding (more)

• Concept Matrix Solutions (CMS), a vertically integrated biotechnology company, received a $1.2M investment from Impact Biotech for the purchase of 8.74% of post money equity (more)

• Synergy ECP, a provider of software engineering, cybersecurity and systems engineering services for the U.S. Intelligence Community and Defense Department, received an investment from Falfurrias Capital Partners (more)

• High Output, a supplier of production services and equipment for film, television, theatre, and events, received an investment from Willistown Capital (more)

M & A:

• First Stop Health, a virtual care company, acquired SentryHealth, a provider of an employee health and well-being platform (more)

• Amplix acquires TNS Communications (more)

• TSCP-Backed Savillex purchases ONFAB (more)

• Core Industrial Partners buys General Converting (more)

• Ardian purchases $2.1B PE portfolio from CPP Investments (more)

• Lincoln Road buys Silversand Services and SLI Landscape (more)

• LMP-backed Warner Pacific acquires BeneUSA (more)

• Fox Factory purchases Wheelhouse Holdings from Compass Diversified (more)

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CRYPTO

• SEC Chair Gensler says rebooted FTX run by ex-NYSE chief is possible if done ‘within the law’ (more)

• 70% Crypto yields are back with DeFi becoming a hot spot for leverage again (more)

• Ex-Cantor executives start lending platform for anticipated spot Bitcoin ETFs (more)

BULLISH BITES

🤔 WeWork is bankrupt, but Adam Neumann is still a billionaire

🖼 Picasso sells for $139 million, artist’s second highest in history

💣 ChatGPT’s new Turbo update just destroyed cottage industry of developers piggybacking on AI’s success

🤖 Google Bard has introduced a new feature —"human review" — sparking privacy concerns over conversation monitoring

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