BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 39.80% for Week of September 12 2024

Market Wrap:

• Futures flat: S&P unchanged, Dow +0.03%, Nasdaq -0.02%.

• Big Tech boosts S&P, Nasdaq; Dow up 0.6%.

• Fed likely to cut rates by 25 bps at Sept. 17-18 meeting.

• August CPI at 2.5%, lowest since Feb 2021; wholesale prices +0.2%.

• Weekly gains: S&P +3.5%, Nasdaq +5.3%, Dow +1.9%.

EARNINGS

No notable earnings for us today.

Full earnings calendar here.

HEADLINES

Berkshire Vice-Chair Jain Sells More than Half of His Stake in Company

ECB Cuts Interest Rates for Second Time in Three Months

• US weekly jobless claims modestly up (more)

• Interest payments on the nat’l debt top $1 trillion as deficit swells (more)

• Gold hits all-time high as rate-cut hopes bolster appeal (more)

• Nvidia, OpenAI, Anthropic and Google execs meet with White House to talk AI energy and data centers (more)

• US Steel deal ‘doomed,’ says union ‘steadfast’ in opposition (more)

• Companies’ interest costs to keep rising, even with rate cuts (more)

• SpaceX performs historic first spacewalk with Polaris Dawn crew (more)

• OpenAI releases new model with reasoning capabilities (more)

• Adobe falls after sales outlook fails to show AI uplift (more)

• Flights more expensive again as airlines scale back growth plans (more)

• Point72 plans to return billions as big hedge funds cap assets (more)

• Major banks try to ease junior bankers' exhaustion after death (more)

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DEALFLOW

M+A | Investments

• Mastercard to buy cyber-defense firm for $2.65B (more)

• General Mills sells North America yogurt operations in $2 bln deal (more)

• L'Oreal, Evonik join $38.6M funding round for biotech start-up Abolis (more)

• Milwaukee Bucks sells 10% to former NBA player Junior Bridgeman (more)

• Taishin raises offer for Shin Kong in what could be Taiwan's biggest financial deal (more)

• DSV purchase of DB Schenker to be announced today (more)

• mPulse, provider of Health Experience and Insights tech, acquired Zipari, Inc., healthcare consumer experience technology (more)

• ColorTokens, an enterprise microsegmentation company, acquired PureID, a startup providing secure identity and access management (more)

• Verity IQ, a CRM and student information system provider, received a strategic investment from PSG (more)

• PharmaForceIQ, an AI-driven measurement solution to pharmaceutical and life science companies, received a growth investment from Eir Partner (more)

• Campus Ivy, a provider of financial aid solutions for education institutions, received a strategic investment from PSG (more)

• eClinical Solutions LLC, a provider of digital clinical software and services, received a growth investment from GI Partners (more)

VC

• Inflammatix, a molecular diagnostics company, closed a $57M Series E financing (more)

• Strider Technologies, a provider of strategic intelligence, raised $55M in Series C funding (more)

• Huma, a payment finance network, raised $38M in funding (more)

• GT Medical Technologies, a medical device company for patients with brain tumors, receives $35M venture Loan Facility from Horizon Technology Finance (more)

• Aembit, a non-human identity and access management company, raised $25M in Series A funding (more)

• AceUp, an AI-powered team transformation engine, raised $22.5M in Series A funding (more)

• Sigo Seguros, a digital-first non-standard auto insurance brand eliminating extra fees, raised $20.5M in Series A funding (more)

• Landbase, an agentic AI GTM platform for sales, raised $12.5M in funding (more)

• Operant AI, a runtime AI application protection platform, raised $10M in Series A funding (more)

• Nostra AI, a conversion optimization software company for e-commerce brands, raised $8.9M in funding (more)

• PathPresenter, an image sharing platform for pathology, closed a Series A funding round of $7.5M (more)

• Gestalt Tech, a provider of data ecosystem for lenders, raised $5.9M in Seed funding (more)

• Reshape Automation, an AI-powered solution transforming industrial automation from discovery to deployment, raised $5M in seed funding (more)

• Realm.Security, Inc., a security fabric company purpose-built for cybersecurity, emerged from stealth and raised $5M in seed funding (more)

• Safi Biotherapeutics, a developer of manufactured red blood cells as an alternative to donor blood transfusions, raised $5M in seed funding (more)

• Cohora, a customer activation and engagement platform company, raised $2.5M in additional funding (more)

• Cavela, an AI-powered platform for businesses to optimize matching and negotiation with suppliers, raised $2M in funding (more)

• Ninth Wave, cloud-based Open Finance solutions for financial institutions, raised an undisclosed amount in growth funding (more)

CRYPTO

• DeFi lending giant Sky sets vote to offload wrapped Bitcoin as Justin Sun concerns linger (more)

• XRP spikes as Grayscale offers trust for 7th biggest token (more)

• Trading platform eToro settles with SEC, limits US crypto activity (more)

BULLISH BITES

🚨 Coming Financial Storm? How to keep your savings safe *

🥠 Fortune Teller: Where money managers see dollar going as Fed cuts, US votes.

💰 Spending Boom: The Wall St Journal breaks down the AI “spending spree”, in charts.

🤖 Futurism: An AI bot named James has taken my old job.

💍 Digital I dos: It's now possible to get married on the blockchain.

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