BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 45.45% for Week of October 03 2024

Market Wrap:

• Stock futures flat after major averages gained

• Regular session: Dow +126 points (+0.3%), S&P +1%, Nasdaq +1.5%

• Tech stocks led, Nvidia +4%, Broadcom +3%

• Optimism on Fed's soft landing after strong jobs report

• Tech earnings strong, expected to lead again

• Oil prices dropped; 10-year Treasury yield > 4%

• Earnings season starts Friday with JPMorgan, Wells Fargo

EARNINGS

Earnings we’re watching this week:

• Thursday: 

  • Delta Air Lines (DAL) - earnings of $1.55 per share (-23.6% YoY) on $14.77B revenue (+1.5% YoY)

• Friday: BlackRock (BLK), Wells Fargo (WFC)

  • JPMorgan Chase (JPM) - earnings of $4.01 per share (-7.4% YoY) on $41.7B revenue (+5.1% YoY)

See full earnings calendar here.

HEADLINES

DOJ Weighing Google Breakup as Monopoly Case Remedy

Boeing Withdraws 30% Pay Raise Offer to Striking Workers

• Milton could cause $175B in damages, according to estimates (more)

• US oil production growth to slow more than expected in 2025 (more)

• China's CSI 300 plunges nearly 7% as Hong Kong stocks extend losses (more)

• Dalio: Investing in China is tricky as Beijing less favorable to capitalism (more)

• Indians pour family savings into IPOs, stoking bubble fear (more)

• TikTok sued by 13 states and DC, accused of harming younger users (more)

• Berkshire Hathaway nets $10 bln from BofA share-sale spree (more)

• OpenAI, Hearst strike deal to bring news content to ChatGPT (more)

• Home Depot orders corporate staff to take 8-hour retail shifts (more)

• Tesla sends out tickets for its Robotaxi event (more)

• Baidu’s robotaxi unit is exploring expansion into global markets (more)

• Dimon says regulators should reduce hurdles to going public (more)

TOGETHER WITH CHAIKIN ANALYTICS

Wall Street Slashes NVDA Holdings

The most successful hedge fund in history quietly sold 500,000 shares.

Here's what that means for your money.

Billionaire Wall Street investors are quietly offloading millions of shares.

What do they know that you don't?

It's arguably the most popular stock in the world. Now, one 50-year Wall Street legend says its day in the sun could finally be coming to an end.

Last year, he warned of two stocks that went on to crash 60%.

Now he's just issued a warning for the most popular stock in the world: Nvidia (NVDA).

- sponsored message -

DEALFLOW

M+A | Investments

• Verizon lines up $10 bln in debt for Frontier acquisition (more)

• China’s Zijin buys Ghana gold mine from Newmont for $1 bln (more)

• Cloudflare (NET), a connectivity cloud company, acquired Kivera, a cloud security, data protection, and compliance platform (more)

• QuestionPro, online survey and research services, acquired Tactix, a video research platform for gathering insights about people’s experiences (more)

• TransPerfect, a provider of AI solutions for global business, acquired Paybooks Technologies, HR, payroll, and compliance solutions (more)

• Actylis, a provider of life sciences and specialty ingredients, acquires Pharm-Rx, a value-added supplier for the vitamin and pharmaceutical industries (more)

VC

• City Therapeutics, a biopharma company specializing in RNAi-based medicine, raised $135M in Series A funding (more)

• EvenUp, a leader in personal injury AI and document generation, raised $135M in Series D funding (more)

• Maven Clinic, a virtual clinic for women's health, raised $125M in Series F funding (more)

• Josys, a SaaS platform that simplifies how IT works, raised $100M in Venture Debt (more)

• Orasis Pharmaceuticals, an ophthalmic pharmaceutical company, raised $78M in funding (more)

• Blue Energy, a nuclear power plant company, raised $45M in Series A funding (more)

• TensorWave, an AI GPU cloud platform, raised $43M in SAFE funding (more)

• Facet, a financial planning company, raised $35M in additional funding (more)

• Distributional, a modern enterprise platform for AI testing, raised $19M in Series A funding (more)

• MARAbio, a precision immunology company, raised $19M in initial Series A funding (more)

• Corvus Robotics raises new funding; closes $18M Series A (more)

• BizzyCar, an autotech solution that increases service revenue by automating recalls, raised $15M in Growth funding (more)

• InterVene, a clinical-stage medical device company, raised $13M in Series A funding (more)

• Lithios, a developer of electrochemical lithium extraction technology, raised $12M in funding (more)

• Kiva AI, a platform delivering data solutions at scale for the development of specialized AI applications, raised $7M in Seed funding (more)

• Cannect Wellness, a craft cannabis company, closed its second round of funding, securing $7M in capital (more)

• Third Dimension, a 3D generation company, raised $6.9M in Seed funding (more)

• Tildei, a conversational marketing platform, raised $6M in Seed funding (more)

• Loot Labs, a startup empowering collectors with digitally-driven ways to enjoy their hobby, raised $6M in Seed funding (more)

• Vectorize, an AI data integration startup, raised $3.6M in Seed funding (more)

• AcreShield, a developer of Yield Optimizer™, raised more than $2.5M in Series A funding (more)

• Fortius Metals, a metal 3D printing company, raised $2M in additional funding (more)

CRYPTO

• Who is Peter Todd, the man HBO named as Satoshi Nakamoto (more)

• Crypto.com files suit against SEC after getting Wells notice (more)

• Bored Bitcoin seeks direction after big bang (more)

BULLISH BITES

🚨 Investor Alert: Guess who's selling NVDA next *

😖 Ouch: The 30-year-old internet backdoor law that came back to bite.

✈️ $ Saver: Alaska Airlines’ venture lab spins out its first startup: Odysee.

🛍 Inside Look: Why the US is covered in strip malls.

🏄🏼 Limited Edition: Porsche surfboards.

DAILY SHA

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