BEFORE THE OPEN

PRE-MARKET:

MARKETS:

• U.S. stock futures dip after Monday's strong market gains.

• Dow futures down 0.11%, S&P 500 and Nasdaq futures dip around 0.09-0.11%.

• Monday saw S&P 500 and Nasdaq rise over 1% and 2%, led by tech stocks like Nvidia.

• Dow climbed 200+ points despite Boeing's temporary aircraft grounding.

• Mega-cap tech stocks rebounded after recent losses, future outlook debated.

• Investors await key inflation data later this week, impacting Fed rate cut expectations: CPI on Thursday, PPI on Friday.

EARNINGS

What we’re watching this week:

• Wednesday: 

  • KB Home (KBH) - expected: $1.70 per share (-31.2% YoY) on $1.6 billion revenue (-16.4% YoY)

• Friday: Bank of America (BAC), BlackRock (BLK), Citigroup (C), JPMorgan Chase (JPM)

  • Delta Air Lines (DAL) - expected: $1.16 per share (-21.6% YoY) on $13.6 billion revenue (+10.3% YoY)

  • Wells Fargo (WFC) - expected: $1.22 per share (+100.0% YoY) on $20.3 billion revenue (+3.5% YoY)

Full earnings calendar here

HEADLINES

United Finds Loose Bolts on 737 Max 9 Planes in Wake of Alaska Airlines Door Plug Incident

CES 2024: All the TVs, Laptops, Smart Home Gear, and More From the Show Floor

• Biden admin to announce independent contractor rule that could upend gig economy (more)

• Treasury yields resume slide aided by oil and inflation outlook (more)

• Oil prices drop as Saudi Arabia cuts prices (more)

• Mortgage rate decline pulls buyers back into the housing market (more)

• IPO investors hope the Fed is finally ready to restart the party (more)

• French Prime Minister Borne resigns; replacement not yet named (more)

• Nvidia rallies to record high as chipmaker announces AI-related components (more)

• Apple Vision Pro goes on sale Feb 2 for $3,500 (more)

• Apple iPhone sales in China fall 30% in first week of 2024 (more)

• ChatGPT to be equipped in cars, starting with Volkswagen (more)

• JetBlue CEO to step down as airline awaits judge's ruling on Spirit Airlines merger (more)

• Twilio co-founder Lawson steps down as CEO after bruising activist battles (more)

• Blackstone’s first private equity fund for rich individuals gets $1.3 billion (more)

• ESG campaigns seen falling out of favor with activist investors (more)

• J&J, Merck and Boston Scientific go on $6.4 billion buying spree (more)

• Chinese billionaire is second-biggest foreign owner of US land (more)

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DEALFLOW

M & A | INVESTMENTS

• J&J to acquire cancer drug developer Ambrx Biopharma for $2 billion (more)

• Merck to acquire Harpoon Therapeutics, further diversifying oncology pipeline (more)

• Boston Scientific announces agreement to acquire Axonics, Inc. (more)

• Hewlett Packard Enterprise nears $13 bln deal to buy Juniper Networks (more)

• Sony is planning to call off $10B merger with India’s Zee (more)

• Godspeed-backed Crimson Phoenix acquires Cyberspace Solutions (more)

• Gryphon-backed VIP buys Bucks-Mont Eye Associates (more)

• MAI Capital Management buys Madison Wealth Management (more)

• Centre Partners acquires Quick Roofing (more)

• Ventra Health combines with Advocate RCM (more)

• Liberty Hall-Backed Comply 365 Merges with Vistair (more)

• TA invests in Rocscience (more)

VC

• Second Dinner, the game development studio behind the hit game MARVEL SNAP, raised $100M in Series B funding (more)

• Claris Bio, a late-clinical stage biotechnology company, raised $57M in funding (more)

• Care Continuity, a company specializing in data-driven patient navigation, raised $10M in funding (more)

• CharatcterX, a provider of a decentralized AI social network, raised $2.8M in Seed funding at a $30M valuation (more)

• Imbed Biosciences, a tissue engineering company developing advanced biomaterials for soft-tissue repair, received $10M in convertible debt financing (more)

• Health In Her HUE, a provider of a digital health platform, raised $3M in funding (more)

• Rincell Corporation, a chemistry battery cell manufacturer, raised $1.2M in Seed funding (more)

• WellBe Senior Medical, an in-home value-based care provider, received an investment from CVS Health Ventures (more)

• Affinity Learning, a compliance training solution provider, received an investment from O’Shaughnessy Ventures (more)

FUNDRAISING

• OpenAI backer Thrive Capital plans $3B fundraise amid tech downturn (more)

• Goldman Sachs Asset Management raised $650M for its West Street Life Sciences I, representing the first fund in the firm’s Life Sciences Investing strategy (more)

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CRYPTO

• Bitcoin touches $47,000 for the first time since April 2022 as investors brace for landmark ETF decision (more)

• Fidelity picks Jane Street, Cumberland to trade Bitcoin for potential ETF (more)

• 2024 is the most important year for Bitcoin (BTC), says billionaire Chamath Palihapitiya (more)

BULLISH BITES

⛳️ Separate ways: Tiger Woods splits with Nike after 27 years.

🤼‍♂️ Seasoned: See how industry vets tackle CES.

😎 'Realignment': Affluent people keep moving from NY and SF to cheaper, warmer places.

🐁 Cute-ish: House-proud mouse secretly filmed tidying man’s shed every night.

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DAILY SHARES

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