BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 39.80% for Week of September 12 2024

Market Wrap:

• Stocks closed lower after Fed's 0.5% rate cut raised concerns over economic weakness.

• Dow fell 103 points (0.25%), S&P -.29%, Nasdaq -0.31%.

• Fed cut rates to 4.75%-5%, first cut in 4 years as inflation cools.

• Traders initially cheered the cut, but stocks failed to hold gains.

• Powell said no economic downturn is expected.

• S&P up 18% YTD, over 1% gains in the past month.

EARNINGS

Here’s what we’re watching this week:

• Today: Cracker Barrel (CBRL), Darden Restaurants (DRI)

  • FedEx (FDX) - earnings of $4.85 per share (+6.6% YoY) on $22B revenue (+3.8% YoY)

  • Lennar (LEN) - earnings of $3.63 per share (-6.2% YoY) on $9.2B revenue (+8.4% YoY)

Full earnings calendar here.

HEADLINES

Traders Got Their Big-Rate-Cut and Markets Still Couldn't Rally

Ray Dalio Calls Upcoming Election the Most Consequential of His Lifetime

• Fed meeting recap (more)

  • Fed forecasts lowering rates by another half point before the year is out (more)

  • Powell downplays impact of rate cut on Trump-Harris presidential race (more)

• Bond market gets Fed wake-up call after pricing in a recession (more)

• Homeowners scramble to refinance with mortgage rates at two-year lows (more)

• Dollar claws back losses after Fed goes big (more)

• Oil prices fall as US rate cut fails to boost market sentiment (more)

• Fed jolts Asian assets (more)

• Boeing furloughs white-collar workers as strike worsens cash crunch (more)

• Teamsters decline to endorse Trump or Harris for President (more)

• GM EV’s gain access to Tesla chargers (more)

• JPMorgan appoints banker to oversee juniors’ ‘wellbeing’ (more)

• GameStop CEO Cohen to pay $1 million fine over Wells Fargo stock buy (more)

• Iconic Tupperware brands seeks Chapter 11 bankruptcy (more)

A Message from Porter Stansberry

This Technology Could Swing The Election

Whoever wins the presidential election – Trump or Harris – this energy breakthrough could see their popularity skyrocket.

Now, billions of dollars are amassing behind this tech, with everyone from Jeff Bezos and Bill Gates to Sam Altman and Warren Buffett pouring their money into this phenomenon.

Stocks connected to this breakthrough are already moving. Don’t be left behind.

- sponsored message -

DEALFLOW

M+A | Investments

• TDR, I Squared Capital said to consider $10 billion Aggreko exit (more)

• Alaska closes $1.9B acquisition of Hawaiian Airlines after DOT blessing (more)

• Oracle-backed chipmaker Ampere explores potential sale (more)

• Playtika to acquire Dice Dreams maker SuperPlay (more)

• Censia, AI-driven talent intelligence solutions, received an investment from Workday Ventures as part of its Series B investment round (more)

• CleanArc Data Centers, a developer of renewables-focused hyperscale data center campuses, received an investment from Snowhawk (more)

VC

• Nura Bio, a biopharmaceutical company developing neuroprotective for neurological diseases, raised more than $140M in Series A funding (more)

• Air Company, a carbon conversion technology company, raised $69M in Series B funding (more)

• Arzeda, a protein design company, raised $38M in funding (more)

• Intezer, a company specializing in AI-powered tech for autonomous security operations, raised $33M in Series C funding (more)

• PictorLabs, a software company transforming histopathology with AI-powered virtual staining, raised $30M in Series B funding (more)

• Cherre, a real estate data management and intelligence platform, raised $30M in Series C funding (more)

• Point.me, a points and travel reward search platform, raised $15M in Series B funding (more)

• e6data, a provider of a lakehouse compute engine for enterprise data analytics, raised $10M in funding (more)

• With, an end-to-end platform for all city offerings to its communities, raised $10M in Seed funding (more)

• Knit, a platform dedicated to streamlining the consumer research process using AI, raised $9M in funding (more)

• Fermah, a universal proof generation layer, raised $5.2M in Seed funding (more)

• Edera, a secure-by-design Kubernetes and AI solution, raised $5M in Seed funding (more)

• Sitewire, a cloud and mobile construction finance platform, raised $3.17M in Seed funding (more)

• Upfront, a real estate finance platform, raised $2.5M in funding (more)

• Prof Jim, an education startup, raised 1.5M in funding (more)

• Syntax Bio, a preclinical-stage biotech company, raised a funding round of undisclosed amount (more)

• FeedbackNow, a company specializing in operational analytics for physical spaces, raised an undisclosed amount in Series A round (more)

CRYPTO

• Bitcoin briefly hits $61K before selloff (more)

• Binance CEO says exchange saw 40% growth in institutional, corporate investors (more)

• Trump buys fans burgers and pays with Bitcoin at New York bar (more)

• Fintech giant Revolut is said to be planning to issue a stablecoin of its own (more)

BULLISH BITES

📈 Breakthrough: Billions are flowing into weird Appalachian technology *

🤖 Futurism: AI-powered weed-killing robots threaten a $37 billion market.

😎 Trending: Snap is trying to make computers fun again.

💧 Takes a Toll: A bottle of water per email: the hidden costs of using AI.

🚞 Otherworldly: This sleeper carriage on the Venice Simplon-Orient-Express comes complete with a fireplace, library, tea room, and full-time butler.

DAILY SHARE

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