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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
40.82% for Wk of May 09 2024 (Last week: 38.49%)

Market Recap:

• Stock futures flat Monday night ahead of key inflation reports

• S&P futures down 0.04%, Nasdaq -0.08%, Dow -0.01%

• Dow fell 0.2%, ending 8-day win streak

• S&P 500 dipped 0.02%, Nasdaq rose 0.3%

• Today: PPI report, expected to gain 0.3% for April

• Tomorrow: CPI report forecast to rise 0.4% MoM, 3.4% YoY

• Major averages close to highs; Powell signals no immediate rate hikes

EARNINGS

What we’re watching this week:

• Today: Alibaba (BABA)

  • Home Depot (HD) - earnings of $3.82 EPS on $36.7B revenue (-1.6% YoY)

• Wednesday: Monday.com (MNDY)

  • Cisco Systems (CSCO) - earnings of $.77 (-23% YoY) on $11.6B (-20.5% YoY)

• Thursday: Deere (DE)

  • Walmart (WMT) - earnings of $.53 on $159.4B (+4.7% YoY)

Full earnings calendar here

HEADLINES

GameStop Soars 119% as ‘Roaring Kitty’ Revitalizes Meme Mania

OpenAI Debuts GPT-4o ‘omni’ Model Now Powering ChatGPT

• S&P barely changes as investors hold tight ahead of inflation data (more)

  • Dow slips for first losing day in nine as consumer expectations for inflation rise (more)

• Major airlines sue Biden admin over fee disclosure rule (more)

• Yellen says Chinese response possible on expected US tariff action (more)

• Dollar drifts as traders eye US inflation data; frail yen in focus (more)

• Gold marks biggest one-day loss of the month (more)

• Oil prices tick up on tighter supply outlook (more)

• Asia shares hit 15-mo high as traders wait for CPI (more)

• GameStop short sellers have already lost $1 billion from Monday’s monster rally (more)

• Cocoa prices tumble 19%, giving up a chunk of their record-setting gains (more)

• Walmart to lay off hundreds of corporate staff and relocate others (more)

• Tesla rehires some supercharger workers weeks after cuts (more)

• Rumble sues Google, again (more)

• Ex-UBS risk manager points finger squarely at Archegos ‘lies’ (more)

A MESSAGE FROM BANYAN HILL

DEALFLOW

M+A | Investments

• Walgreens reportedly contacts potential buyers for $8.8B Boots Drugstore chain (more)

• Squarespace to go private in $7B private-equity deal (more)

• Kraft Heinz exploring sale of Oscar Mayer business (more)

• Anglo American rejects BHP's revised $42.7B buyout proposal (more)

• EQT offers to buy wind developer OX2 in $1.5B deal (more)

• Energy Exemplar buys Adapt2 Solutions (more)

• KKR acquires Nashville Logistics Property (more)

• KKR strikes four deals in a week to boost M&A spirits in Asia (more)

• Haveli Investments, a tech-focused private equity firm, acquired ZeroFox (ZFOX), a provider of external cybersecurity (more)

• JanOne Inc. (JAN), a company offering solutions to help end the opioid crisis, acquires ALT 5 Sigma Inc.,a blockchain provider (more)

• Mitra Future Technologies, Inc., an innovator in N. American lithium-ion battery materials, received an investment from Alpha Wave Ventures as part of a Series B funding round (more)

VC

• Ajax Therapeutics, a biopharmaceutical company developing JAK inhibitors for patients with myeloproliferative neoplasms, raised $95M in Series C funding (more)

• ByHeart, an infant nutrition company, raised $95M in funding (more)

• CereVasc, a clinical-stage, medical device company, raised $70M in Series B funding (more)

• Canopy, a provider of a firm-wide operating system for accountants, raised $35M in funding (more)

• Pepper, a technology partner for the food distribution sector, raised $30M in Series B funding (more)

• Princenton NuEnergy, a clean-tech innovator specializing in lithium-ion battery recycling, raised additional $10.3M in Series A funding (more)

• Artisan AI, a startup building AI employees and software for enterprise companies, raised $7.3M in Seed funding (more)

• Switchboard Health, creator of a high-value specialty care network and software platform, raised $6.5M in seed funding (more)

• Monitaur, a model governance software company, raised $6M in Series A funding (more)

• Plenty, provider of a wealth-building platform that helps couples invest and plan for their future, raised $5M in funding (more)

• Roam, provider of a platform for assumable mortgages, raised $3M in additional funding (more)

CRYPTO

• Solana meme coins, GameStop stock rocket as 'Roaring Kitty' returns (more)

• Bitcoin below $60K could trigger 'panic' selling (more)

• Bitcoin miners begin to feel pressure of lower token rewards (more)

BULLISH BITES

🌎 Pursuits: Melinda Gates exits foundation with $12.5B for own charity work (more)

💵 Pro advice: Is it time to rethink the 4% retirement withdrawal rule?

♜ Chess master: The man at Google tasked with turning bleeding-edge AI research into profits.

⚫️ The void: ChatGPT’s new face is a black hole.

🏝 On an island: ‘Wealth can be pretty isolating’ - problems people with money face.

DAILY SHARE

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