BEFORE THE OPEN

MARKETS:

• Dow breaks three-day losing streak, gains 127.17 points (0.39%).

• S&P 500 adds 0.81%, Nasdaq up 1.35%.

• Consumer discretionary (2% rise) led by Tesla and Norwegian Cruise Line.

• Energy sector lags due to largest single-day crude price loss since Sep 2022.

• ADP reports only 89,000 new private payrolls, below 160,000 forecast.

• Treasury yields slightly retreat from multiyear highs.

• Higher rates raise recession and mortgage rate fears, lowering mortgage demand.

• Investors await Friday's nonfarm payrolls data for labor market insights.

EARNINGS

Here’s what we’re watching this week:

• Today: Lamb Weston (LW), Conagra (CAG)

• Full earnings calendar here

NEWS BRIEFING

Biden Cancels $9 Billion in Student Debt for 125,000 Borrowers

Kaiser Workers Launch Largest-Ever US Health Care Strike

• Bill Gross sees stocks ‘clearly overvalued’ as bond yields rise (more)

• Fed has yet to face final reckoning two years after trading scandal (more)

• Reverse-mortgage lawsuit claims Feds reneged on loan promises (more)

• Ray Dalio: US-China relations are on the ‘brink of red lines' (more)

• Private payrolls rose 89,000 in September, far below expectations, ADP says (more)

• Wells Fargo gets pickier on regional banks with four downgrades (more)

• The global VC market continues to stumble (more)

• Ex-Alameda CEO emerges as key figure at Bankman-Fried (more)

• Meta and Amazon lay off more workers as cuts continue (more)

• United Airlines buys 110 additional Boeing, Airbus jets with delivery slots scarce (more)

• Ozempic is making people buy less food, Walmart says (more)

• Uber will now pick up your packages and take them to UPS, FedEx or USPS (more)

• Disney is discounting child tickets at U.S. parks as industry attendance lags (more)

• Walmart experiments with generative AI tools that can help you plan a party or decorate (more)

• Apple considered switch to search engine DuckDuckGo from Google (more)

• Google’s latest Pixel phones take on Apple with new camera AI tricks (more)

• Silicon Valley sees a new kind of mobile device powered by AI (more)

• Actually, X sees 500M posts per day — not 100M-200M as Musk recently said (more)

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DEALFLOW

• BlackBerry plans IPO for Its Internet of Things business (more)

• Apollo-backed Yahoo spins uut Vespa (more)

• Ascend buys majority stake in SMG (more)

• 7wireVentures, a digital health venture capital firm, launched $217M Growth & Opportunity “GO” Fund (more)

• Cortica, a physician-led, value-based autism services company, raised $40M in Series D extension funding (more)

• Loop, a provider transportation logistics startup, raised $35M in Series B funding (more)

• Shorla Oncology, a pharmaceutical company, raised $35M in Series B funding (more)

• Blackbird Labs, a hospitality technology company, raised $24M in Series A funding (more)

• Rainforest, a provider of a payments-as-a-service (PaaS) platform, raised $11.75M in Seed funding (more)

• Osmoses, an industrial separations technology company, raised $11M in Seed funding (more)

• Trinetix, a product development company, raised $10M in funding (more)

• Peak Energy, a company developing giga-scale energy storage technology, raised $10M in funding (more)

• Cicada Partners, a non-custodial credit risk management company, raised $9.7M in Pre-Seed funding (more)

• Plenful, a provider of a workflow automation platform streamlining pharmacy and healthcare operations, raised $9M in funding (more)

• Vyzer, a provider of a digital wealth management platform, raised $6.3M in Seed funding (more)

• LANGaware, an AI-driven healthcare technology company, raised $2M in funding (more)

• Evo Security, a provider of enterprise-grade identity and access management products, received a $1M investment from Strategic Cyber Ventures (more)

• Everise, a global healthcare services outsourcing company, received an investment from Warburg Pincus, who joined existing investor Brookfield (more)

• Partners Group invests in Exus, an infrastructure asset management and development firm focused on the renewable energy sector (more)

• Auditoria, a company specializing in automated, AI-powered intelligent applications for finance, received a minority investment from KPMG U.S. (more)

• Unity Partners invests in Poolie (more)

• VSS Capital Partners invests in Eximia (more)

M & A:

• Aspire.io, a provider of an influencer marketing platform, acquired Commerceup, an end-to-end SaaS ecommerce platform (more)

• Factorial, a provider of human resources software solutions, acquired Fuell, an expense management startup based in Madrid, Spain (more)

• Movate, a digital technology and customer experience (CX) services provider, acquired TSD Global, a provider of outsourced sales and customer experience services (more)

• HCI-backed WF Cabinetry acquires Woodharbor (more)

• Nice purchases LiveVox (more)

• Cairngorm Capital-backed SageHome buys Safe Showers (more)

• SK Capital acquires Milestone Environmental Services (more)

CRYPTO

• Sam Bankman-Fried’s crypto empire was ‘built on lies,’ US prosecutor says (more)

• SEC bid for quick appeal of Crypto ruling is denied by judge (more)

• ‘Sell the news’ strikes again after debut of Ether futures ETFs (more)

BULLISH BITES

🔥 How Internet Influencer Became the Hottest Job in America → Bloomberg

🤬 Wall Street's Most Hated Regulator Faces a Fundamental Threat → NYT

🛠 Fraud Is Forcing Global Trade to Fix Its Paper Problem → Bloomberg

🤑 Billionaire Buys Paul Allen’s Iconic French Riviera Villa → Bloomberg

DAILY SHARES

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