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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
32.13% for Wk of Apr 25 2024 (Last week: 38.27%)

Market Recap:

• Stocks tumble on weak US economic data, inflation worries

• Dow falls 0.98%, S&P 500 down 0.46%, Nasdaq drops 0.64%

• Q1 GDP growth at 1.6% vs. expected 2.4%

• Personal consumption expenditures index rises 3.4%

• Concerns over persistent inflation, Fed rate cuts

• Tech giants hit: Meta plunges 10.5%, IBM falls 8.3%

• Meta's light revenue guidance raises tech sector worries

EARNINGS

What we’re watching this week:

• Today: AbbVie (ABBV), Chevron (CVX), Exxon Mobil (XOM)

Full earnings calendar here

A MESSAGE FROM BEHIND THE MARKETS

HEADLINES

Alphabet Announces First-Ever Dividend, Shares Soar

The Dream of Fed Rate Cuts Is Slipping Away

• GDP growth slowed to a 1.6% rate in the first quarter, well below expectations (more)

• Wall Street stocks fall as weak GDP growth spreads rate-cut gloom (more)

• Mortgage rates continue upward climb to 7.17% (more)

• Airlines ordered to give full cash refunds instead of vouchers and to stop hiding fees (more)

• Sanders launches investigation into 'unacceptable' diabetes, weight loss drug prices (more)

• Chinese firms are investing abroad at fastest pace in eight years (more)

• ByteDance prefers TikTok shutdown in US if legal options fail (more)

• Microsoft cloud growth accelerates on back of AI push (more)

  • Microsoft says cloud AI demand is exceeding supply (more)

• Snap shares soar 23% as company beats on earnings (more)

• Southwest Airlines exits multiple airports as Boeing troubles weigh (more)

• Huawei’s new phone sports latest version of made-in-China chip (more)

• BGC Group takes aim at 'heavyweight champ' CME exchange (more)

• Paramount and Skydance inch closer to a merger as key hurdle looms (more)

DEALFLOW

M+A | Investments

• Clinical lab operator Labcorp to buy bankrupt genetic test maker Invitae for $239M (more)

• Blackstone to sell $1.6 Billion of student housing to KKR (more)

• AirAsia plans new listing with $1.4 Billion merger of units (more)

• KKR purchases Nexeye from 3i (more)

• T-Mobile, EQT form JV to acquire Lumos (more)

• Anglo American does not find BHP $39B offer attractive (more)

• GTCR acquires AssetMark (more)

• CC Industries purchases Foremark (more)

• Finsight, a fintech company, acquired T-REX, provider of a cloud-native platform to manage investments across private credit (more)

• Marsh McLennan Agency acquires Fisher Brown Bottrell Insurance (more)

• Wynnchurch-backed FCA Packaging invests in Greentree (more)

VC

• Augment, an AI coding assistance startup, raised $227M in Series B funding at $977M valuation (more)

• Agilitas Energy, an integrated developer of distributed energy storage and solar photovoltaic systems, raised $100M in Debt funding (more)

• Cerevance, a company focused on developing therapeutics for central nervous system diseases, raised $47M in Series B-1 Extension (more)

• PinkDx, Inc., a company focused on positively impacting the health of women throughout their life journey, raised $40M in Series A financing (more)

• Movement Labs, a blockchain development team that combines modular elements to create secure Ethereum ecosystem, raised $38M in Series A financing (more)

• AtaCor Medical, a medical device company, raised $28M in Series C funding (more)

• Chemix, an EV-battery developer, raised $20M in Series A funding (more)

• Dropzone AI, a developer of AI security analysts for security operations teams, raised $16.85M in Series A funding (more)

• RevOpsis Therapeutics, a biopharmaceutical company innovating ophthalmic therapies, closed its first seed round of $16.5M (more)

• Carv, a modular data layer for gaming and AI, raised $10M in Series A funding (more)

• Anon, provider of a developer platform empowering secure AI access to user accounts online, raised $6.5M in funding (more)

• Radical, a high-altitude solar-powered aircraft maker, raised $4.5M in Seed funding (more)

• Diddo, a provider of an API for interactive ads, raised $2.8M in seed funding (more)

• Handl Health, a provider of an AI platform to help benefits consultants design health benefits, raised $2.5M in Seed funding (more)

• Moso, a shop-to-earn platform that merges online shopping with cryptocurrency, closed a $2M seed funding round (more)

• Continuum, a technology firm specializing in digital networks for B2B, raised $1.7M in Pre-Seed funding (more)

• Churnkey, a provider of subscription retention automation software, raised $1.5M1` in funding (more)

First time reading? Get tomorrow’s briefing here »

CRYPTO

Powered by MILKROAD - Get smarter about crypto in 5 min.

• Bitcoin outperforms Nasdaq after US economy grew less than projected in Q1 (more)

• Samourai Wallet founders arrested as part of federal crackdown on crypto mixing (more)

• ‘Buy Bitcoin’ notepad held behind Janet Yellen's 2017 speech sells for $1M (more)

• Stripe brings back crypto payments Via USDC stablecoin (more)

BULLISH BITES

🏎 Next level: Lamborghini tiptoes toward electric with new Urus Hybrid SUV.

📉 Losing luster: Plunging home prices, fleeing companies: Austin’s glow Is fading.

🥂 East end: Top places to eat, drink, and party in the Hamptons this summer.

🔥 #1 AI stock? Artificial intelligence stocks are carrying the market. But which one should you buy and when? » *

🙊 Fallout: Gen Z is losing its political voice on social media.

DAILY SHARES

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