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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↑ 52.75% for Wk of July 18 2024 (Last week: 49.18%)

Market Recap:

• Stocks fell Thursday as investors sold tech and took profits.

• Dow -1.29%, S&P 500 -0.78%, Nasdaq -0.70%.

• Ongoing sell-off in megacap tech due to expected Fed rate cuts.

• Broad sell-off: 10 of 11 S&P sectors and 9 of 10 Dow stocks declined.

• Russell 2000 fell 1.9% but is up 3.5% over five days.

• Nasdaq down 2.3% over five days, indicating tech rotation.

EARNINGS

Here’s what we’re watching:

• Today: American Express (AXP)

Full earnings calendar here.

HEADLINES

Fed Prepares for September Cut

Trump Pledges To Cut Taxes, Revive Factory Jobs

• Fed appeals court blocks Biden’s new student loan relief plan (more)

• Jobless claims hit highest level since August (more)

• Key mortgage rate drops to lowest since March (more)

• Dollar’s biggest jump this month sends global currencies sliding (more)

• Foreign holdings of US Treasuries rise to a record in May (more)

• ECB keeps rates unchanged, September move "wide open" (more)

• SEC sues former CEO of Trump Media SPAC company for fraud (more)

• Nvidia rebounds after TSMC says AI chip demand remains strong (more)

• Netflix beats estimates as memberships rise 34% (more)

• Amazon Prime Day drives US online sales to record $14.2B (more)

• Bud Light slips to No. 3 after boycott reshaped beer industry (more)

• OpenAI debuts mini version of its most powerful model yet (more)

• Goldman Sachs names senior dealmakers in reshuffle (more)

"Second Wave" Could Send AI Stock Soaring

A "second wave" of AI profits is coming...

Which could be 100X more profitable than any of the gains we've seen so far.

If you make the right move today...

And it's all thanks to this 244-year old pattern.

Click here for all the details »

Samantha Tino, Editor
Behind the Markets

P.S. This "second wave" of AI gains has already given some early investors the chance to see gains of 133% in 15 days... 496% in 10 weeks… and 604% in 8 weeks. Click here to learn more »

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DEALFLOW

M+A | Investments

• Meta to buy 5% stake in Ray-Ban maker EssilorLuxottica (more)

• Serbia eyes lithium deals with Mercedes, Stellantis, VW (more)

• Capstack Technologies, a loan trading platform, acquired Edge Tradeworks, a loan-trading and bank analytics platform (more)

• Forward.ai, a data-science automation platform, acquired LoudnClear.ai, a provider of a multi-layered conversational AI platform for customer service teams (more)

• WP Engine, a company providing premium WordPress products and solutions, acquired NitroPack, an all-in-one SaaS solution for improving site speed and performance metrics (more)

• CTERA, a hybrid cloud data management company, received a primary and secondary growth investment from PSG Equity (more)

• Definely, a LegalTech company that simplifies legal documents, received a strategic investment from Raine Ventures(more)

• Matera, a software enabling real-time payments in Brazil, received a $100M investment from Warburg Pincus (more)

• Rhizome, a climate resilience planning platform for the power grid, received a $1M investment from Convective Capital (more)

VC

• New Frontier Funding, a pioneer in leveraging gen AI to help SMBs find funding, closed growth capital from the Homsher Family Office (more)

• Coast, a company that offers companies in the US to manage fuel and fleet spending, raised $40M in Series B financing (more)

• Thoughtful AI, an AI-powered revenue cycle automation company, raised $20M in Series A funding (more)

• Allium, a blockchain data platform for enterprises, raised a $16.5m Series A funding (more)

• Momento, a real-time data platform, raised $15M in Series A funding (more)

• OnRamp, a customer onboarding automation company for the post-sales process, raised $14.2M across funding rounds (more)

• After.com, a US online platform that helps families navigate end-of-life services, raised $10M in Series A funding (more)

• EverFence, a company that leverages technology to offer clients fence solutions, raised $7M in Series A funding (more)

• Marathon Fusion, a startup developing fuel processing technology for the fusion industry, raised $5.9M in seed funding (more)

• EdgeRunner AI, a startup building Generative AI for the edge, closed a $5.5m seed funding round (more)

• Pelotero, a player intelligence to help coaches deliver personalized development in real time, raised $3M in seed funding (more)

• REMspace, a neurotechnology company specializing in lucid dreaming studies, closed a $1M seed funding (more)

CRYPTO

• Trump asks $844,600 for fundraiser seat at Bitcoin conference (more)

• Biden dropout chances rise to 68% after Covid diagnosis (more)

• Ether ETF battle for supremacy ignites as firms reveal fund fees (more)

BULLISH BITES

🤖 Bye Bitcoin, hello AI:Texas miners leave crypto for next new wave.

🚀 Next in AI: The inside story on Nvidia’s Next Big AI Play *

🏚 Visionary: A Guggenheim executive’s big plan to build millions of new homes.

🚨 Urgent: Another country abandons the Dollar *

⚠️ Prepped: Costco goes viral for selling “the apocalypse bucket” with food that lasts 25 years

DAILY SHARE

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