Market rebounds

Wall Street rebounds after big loss, Apple pulls watches from online sales, Anthropic in talks to raise raise $750M at $18B+ valuation, Musk blasts markets saying indexing has ‘gone too far’, and Blavatnik joins Harvard donor revolt…

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Market Briefing
December 22, 2023

☕️🎄 Good morning.

The Fast Five → Wall Street rebounds after big loss, Apple pulls watches from online sales, Anthropic in talks to raise $750M at $18B+ valuation, Musk blasts markets saying indexing has ‘gone too far’, and Blavatnik joins Harvard donor revolt…

On behalf of the MarketBriefing team, we wish you a joyous, peaceful holiday! We look forward to seeing you back here on Tuesday, December 26th.

Here’s your 5-min briefing for Friday:

BEFORE THE OPEN

As of market close 12/21/2023.

MARKETS:

  • Stock futures slightly lower as year-end rally continues.

  • Dow futures down 0.3%, S&P 500 and Nasdaq futures dip 0.1%.

  • Wall Street rebounds with Dow erasing most of previous day's losses.

  • Russell 2000 leads with a 1.7% gain, reflecting broadening market rally.

  • Nike shares drop 11% in extended trading due to soft revenue warning.

  • Upcoming data includes consumer spending and key inflation reading.

  • Major averages on track for eighth consecutive positive week.

  • U.S. stock market closed on Monday for Christmas.

EARNINGS

Full earnings calendar here

Wall Street rebounded Thursday to claw back most of its sharp drop from the prior day, which was its first big step backward since a rally began in late October.

Ahead of the International Trade Commission’s ban taking effect, the Apple Watch Series 9 and Ultra 2 are only available in Apple Stores and from other retailers.

  • US inflation report to show Fed’s battle is now all but complete (more)

  • IRS unveils ‘voluntary disclosure program’ for businesses duped by pandemic-era tax credit (more)

  • Container rates hit $10,000 as ocean freight inflation soars in Red Sea crisis (more)

    • Exporters explore cargo flights as way out of Red Sea (more)

  • US scrutinizing airline frequent flyer programs (more)

  • Tencent, NetEase shares plummet on new China online gaming guidelines (more)

  • Harvard financial pain grows as Blavatnik joins donor revolt (more)

    • House committee to investigate allegations of plagiarism against Harvard president (more)

  • Musk blasts public markets, says indexing has ‘gone too far’ (more)

  • Boeing hands over first 787 Dreamliner to China since 2019 (more)

  • Anthropic, the OpenAI rival, is in talks to raise $750 million in funding at $18.4 billion valuation (more)

  • Warner Bros Discovery, Paramount will be 'worse off' together - analysts (more)

  • Apple plans to launch mixed-reality headset by February (more)

  • Honda recalling about 4.5 million vehicles worldwide over fuel pump issue (more)

  • 38% of VCs disappeared from dealmaking in 2023 (more)

  • Former Swiss finance executive pleads guilty to tax evasion scheme that hid $60 million (more)

PARTNER WITH MARKETBRIEFING

DEALFLOW

M & A | INVESTMENTS:

  • Cisco is to acquire Isovalent, a leader in open source cloud native networking and security, to bolster its secure networking capabilities across public clouds (more)

  • Blue Origin, Cerberus looking to buy rocket firm United Launch Alliance (more)

  • Blackstone buys Sony Payment majority stake for $280M (more)

  • RBC's deal for HSBC Canada to win approval (more)

  • Pernod Ricard sells Becherovka bitter brand to Maspex (more)

  • Billionaire Gautam Adani, family to invest $1B in Adani Green (more)

  • Britain's Harbour Energy strikes $11.2 billion deal for Wintershall assets (more)

  • Advent-backed Neoris purchases ForeFront (more)

  • Santander buys stake in Signature Bank loan portfolio for $1.1B (more)

  • KKR launches $1.3B bid for Portugal energy firm Greenvolt (more)

  • Monomoy Capital Partners purchases Waupaca Foundry (more)

  • Kelso-backed Novvia purchases JWJ Packaging (more)

  • Fengate Asset Management buys Morris Cogeneration machinery (more)

  • Houlihan Lokey acquires Triago (more)

  • ICG-backed Ambient makes two acquisitions (more)

VC

  • Lyndra Therapeutics, a clinical-stage biopharmaceutical company, raised $101M in Series E funding (more)

  • Cart.com, a provider of unified commerce and logistics solutions, received $30M growth capital from Trinity Capital (more)

  • PaintJet, a robotic painting company, raised $20M in Series A funding (more)

  • rabbit, an AI startup building a device aimed at replacing app-based operating systems, raised additional $10M in Series A funding (more)

  • Nexus Development Capital, a provider of catalytic capital for sustainable infrastructure project developers, made a $5M investment in biochar producer Standard Biocarbon (more)

  • Claim, a social network that connects friends through their favorite brands, raised $4M in seed funding (more)

  • Pluristyx, a provider of tools, technologies and services for the development of cell therapies, raised a major fundraising (more)

  • ION Storage Systems, a provider of solid-state battery solution for a variety of applications, received an investment from Nova by Saint-Gobain (more)

  • Superfluid Dx, a company specializing in advancing solutions for the diagnosis of the Alzheimer’s disease, raised an undisclosed amount in Series A funding (more)

FUNDRAISING:

  • Clearhaven Partners LP, a software private equity firm, closed its sophomore fund, Clearhaven Fund II, L.P., at $580M (more)

  • Red Cell Partners, an incubator focused on defense and health tech, announced a new $91M fund, RCIF I (more)

  • Hyperlink Ventures, a new venture capital firm, closed its first fund, at $32M (more)

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CRYPTO

  • Bitcoin climbs near $44K as U.S. stocks nurse biggest 3-month loss (more)

  • An old SBF favorite becomes crypto’s next big thing (more)

  • Thai bank paves way for companies to tap tokens for funding (more)

BULLISH BITES

🙏 Wise words: Elisha Wiesel, son of Holocaust survivor, has words for Wall Street and Ivy Leagues.

📈 Big moves: Forget the top 5, these stocks were the biggest movers in the S&P 500 in 2023.

✅ Just don’t: The anti-gift guide for 2023.

😔 Leftovers: Trading the remains of FTX is turning into big business.

🔥 BTC: Buy Bitcoin the easy way with the world's most accessible crypto exchange. Coinsmart is designed for beginners, and built for experts - see for yourself

DAILY SHARES

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