BEFORE THE OPEN

MARKETS:

• Stock futures edge higher following recent market pullback.

• S&P 500 and Nasdaq 100 futures rise, Dow futures climb.

• Micron gains over 4% in after-hours trading on strong performance and guidance.

• Wall Street sees losses, with S&P 500 having its worst day since September.

• Dow and Nasdaq also slide, ending nine-day winning streaks.

• Recent market rally takes a breather after significant gains.

• Upcoming data includes jobless claims, GDP, and inflation gauge.

• Nike earnings to be released after the market close.

EARNINGS

What we’re watching:

• Today: 

  • Nike (NKE) - expected: $.84 per share (-.1.2% YoY) on $13.4 billion revenue (+0.8% YoY)

Full earnings calendar here

What Killed the US Stock Rally? Fingers Point to World's Hottest Derivatives Trade

Citigroup to Close Global Distressed-Debt Business as Part of Overhaul

• Consumer confidence jumps to five-month high; home sales eke out gains (more)

• Billions are on the line for lenders as White House finalizes credit card late fee cap (more)

• FTC plans to boost kids’ privacy regarding push notifications, ads (more)

• Oil set to end winning streak over US stock build (more)

• U.S. crude oil, gasoline stocks rise as refineries ramp up runs (more)

• Xi warned Biden during summit that Beijing will reunify Taiwan with China (more)

• Asia stocks fall as Wall Street rally stalls (more)

• China revokes Taiwan tariff concessions, piles on pressure ahead of elections in the island (more)

• Apple loses attempt to halt Apple watch sales ban (more)

• Toyota recalling 1.12 million vehicles over potential air bag issue (more)

• Wells Fargo employees vote in favor of unionization (more)

• Shein grilled on China relationship, data protections ahead of U.S. IPO (more)

• 'Daigou' goes corporate as retailers seek new ways to reach Chinese shoppers (more)

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DEALFLOW

M & A | INVESTMENTS:

• Copec to sell forestry units to Brazil's Klabin in billion dollar deal (more)

• Zee, Sony in talks to extend merger deadline (more)

• Warner Bros. in talks to merge with Paramount Global (more)

• Paramount in talks to sell BET Network to management group (more)

• U.S. Steel seeks Biden administration review of deal with Japan’s Nippon (more)

• Electric scooter company Bird files for bankruptcy to sell itself (more)

• Bain Capital Insurance invests $200M into GuideOne (more)

• Heckens & Wood Capital acquires FortifyIT (more)

• Prada buys New York Fifth Avenue space For $425M (more)

• ECI Software purchases Treetop Group (more)

• Aon to buy middle-market insurance broker NFP in $13.4B deal (more)

• GI Partners has signed an agreement to acquire DQE Communications, an independent fiber provider from its parent company, Duquesne Light Holdings (more)

• XING Technology, the holding company of Taiwan-based XING Mobility, will be closing its Series B Equity Round led by Kubota Corporation, a manufacturer of agricultural and industrial machinery (more)

• Sentinel Capital Partners buys High Bar Brands (more)

• Millenium Trust-backed PayFlex acquires Maestro Health’s (more)

VC

• Anthropic seeking to raise $750 mln in funding round led by Menlo Ventures (more)

• Sudo Biosciences, a biopharmaceutical company committed to designing and developing best-in-class precision TYK2 (tyrosine kinase 2) inhibitors, raised $116M in Series B funding (more)

• Lassen Therapeutics, a clinical stage biotech company, raised $85M in Series B funding (more)

• NewLeaf Symbiotics, a developer of pink-pigmented facultative methylotrophs, raised $45M in Series D funding (more)

• knownwell, an in-person and virtual, weight-inclusive primary care and metabolic health company, raised $20M in Series A funding (more)

• Skyline Robotics, a robotic-armed window cleaning robot, raised $9.8M in Pre-Series A-2 funding (more)

• PolicyMap, a provider of a geographic data and analytics platform, raised $3M in Series A funding (more)

• ElastiFlow, a provider of network observability solutions, raised $3M in Seed funding (more)

• Formless, a company building decentralized network infrastructure for property rights management and revenue sharing, raised $2.2M in Pre-Seed funding (more)

• Farmstead Manufacturing, a supplier of croissants, donuts, danishes and pastries, received a $1.7M investment from Advantage Capital (more)

• Xploro Inc., a pediatric digital health company, raised $1.7M in Seed funding (more)

• Hillhurst Biopharmaceuticals, a clinical stage biopharmaceutical company, raised an undisclosed amount in Seed funding (more)

FUNDRAISING:

• Clearhaven Partners raises $580M Fund II (more)

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CRYPTO

• Bitcoin bounces back above $43,000 (more)

• Crypto's biggest stories of 2023 (more)

• The crypto industry is better positioned than ever in Washington (more)

• Blockchain tech predictions for 2024, from experts at Ripple, Coinbase, a16z, Starknet (more)

BULLISH BITES

📺 Big bets: 13 media execs make their anonymous 2024 predictions.

💰 Heir apparent: Hermes billionaire wants to bequeath fortune to his gardener.

😔 Quiet storm? Is the U.S. in a ‘silent depression?’ Economists weigh in on the viral TikTok theory.

✅ Reality check: Why $100,000 can’t support a middle-class family anymore, according to a viral video.

🔥 BTC: Buy Bitcoin the easy way with the world's most accessible crypto exchange. Coinsmart is designed for beginners, and built for experts - come see for yourself

DAILY SHARES

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