BEFORE THE OPEN

MARKETS:

• Stock futures edge higher ahead of busy earnings week.

• S&P 500 posts second consecutive positive week.

• Nasdaq dips slightly, oil prices surge due to Israel-Hamas conflict.

• Major financial firms report positive earnings.

• Israel anticipates ground invasion in Gaza, Schumer vows military aid.

• Earnings season ramps up with Johnson & Johnson, Bank of America, Netflix, and Tesla. Charles Schwab reports earnings before the bell.

• Empire State Index for October due out today.

EARNINGS

Here’s what we’re watching this week:

• Monday: Charles Schwab (SCHW)

• Tuesday: Bank of America (BAC), Goldman Sachs (GS), Johnson & Johnson (JNJ)

• Wednesday: Netflix (NFLX), TESLA (TSLA)

• Full earnings calendar here

NEWS BRIEFING

Iran Threatens: ‘No One Can Guarantee’ Control of Situation if Israel Enters Gaza

Jamie Dimon Warns: ‘Now May Be the Most Dangerous Time the World Has Seen in Decades’

• Israel War Latest:

  • US pushes bid to avert wider Israel war after Iran warning (more)

  • Army says over 600,000 Gazans have fled south (more)

  • Global markets brace for impact as Middle East tensions rise (more)

  • Wider war in Middle East could tip the world economy into recession (more)

• Hedge funds get new SEC mandate for reporting short sales (more)

• Wall St week ahead investors zero in on health of consumer with retail sales, earnings (more)

• Yellen says U.S.-backed IMF funding increase is "pretty likely" (more)

• BlackRock clients pull $13 billion from long-term funds (more)

• Big Tech’s profit machine is propping up S&P 500 earnings (more)

• Biden praises Kaiser Permanente labor agreement after worker strike: ‘Collective bargaining works’ (more)

• Stellantis, Ford furlough another 1,250 workers because of UAW strike (more)

• Rite Aid files for bankruptcy as liabilities pile up (more)

• US to tighten curbs on China’s access to advanced chip (more)

• Citigroup CEO plans to remove five management layers in reorganization (more)

• Quiet cutting: How power in U.S. offices may be shifting back to bosses (more)

• ‘Miracle drug’ euphoria: experts warn widespread use of weight loss drugs faces major hurdles (more)

• Pfizer cuts guidance on weakening demand for Covid antiviral Paxlovid (more)

• Tesla fights $230M fee sought by attorneys who sued over board pay (more)

• Israeli billionaire quits Harvard board after school’s response to Hamas attacks (more)

• Stanford’s $40.9 billion fund tops elite rivals with 4.4% return (more)

TOGETHER WITH THE MOTLEY FOOL

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DEALFLOW

• Main Street Health, a value-based healthcare organization, raised $315M in funding (more)

• Zolve, a cross border fintech company helping immigrants across the world gain access to financial services, secured a warehouse debt facility of up $100M from Community Investment Management (CIM) (more)

• Canopy Servicing, a loan servicing startup, raised $15.2M in Series A1 funding at a $35 million pre-money valuation (more)

• Alpaca, a provider of a brokerage platform for stock and crypto trading, received an investment of $15M from SBI Group (more)

• Relay.app, a company providing workflow automation products, raised $3.1M in additional funding (more)

• PickNik Robotics, an unstructured robotics company, raised $2M in pre-seed funding (more)

• ABS Capital, a growth equity firm investing in software and tech-enabled B2B businesses, closed a GP-led secondary transaction centered around two of its portfolio companies, LabConnect, Inc., and Viventium Software (more)

• LaPhair Capital Partners, a minority-led, influencer-backed and performance driven venture capital fund, launched Alpha Fund I, targeting $100M (more)

M & A:

• Microsoft completes $69 Billion Activision Blizzard purchase (more)

• British clothing group Next has agreed to buy FatFace in a deal valuing the fashion chain at $140M (more)

• Stagewell (NASDAQ: STGW), a company combining culture-moving creativity with technology for marketing, acquired Left Field Labs, a digital agency at the intersection of technology and human-centric design (more)

• Mphasis (NSE: MPHASIS), an IT solutions provider specializing in cloud and cognitive services, acquired Silverline, a provider of a digital transformation consultancy and Salesforce partner (more)

• WellSky, a health and community care technology company, acquired Corridor, an end-to-end tech-enabled services platform focused on addressing the post-acute care industry’s toughest challenges, from HealthEdge Investment Partners (more)

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CRYPTO

• Ferrari to accept crypto as payment for its cars in the US (more)

• Grayscale’s Bitcoin ETF push: what’s next after court ruling stands (more)

• Group chats, tweets and audio tape: the evidence against SBF (more)

BULLISH BITES

🤥 Carl Icahn Bet on the 'Big Short 2.0.' Now He Says the Game Was Rigged → WSJ

🤖 How Generative AI is Creeping Into EV Battery Development → TechCrunch

 💪 VC Billionaire Marc Andreessen on Tesla and SpaceX: They ‘Probably Would Have Gone Under’ with Anyone Besides Elon Musk → Fortune

🚀 Bumble CEO: Here Are the $20 ‘Crazy Hacks’ I used to Grow My App Into a $1.9 Billion Company → CNBC

DAILY SHARES

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