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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
43.44% for Wk of Apr 11 2024 (Last week: 47.29%)

Market Recap:

• Stock futures rise despite geopolitical tensions & market volatility.

• Dow up 0.2%, S&P 500 & Nasdaq-100 futures climb.

• Gold prices soar, hitting over $2,384 an ounce.

• Last week's losses due to inflation worries & weak earnings.

• Iran's attack on Israel adds to uncertainty; oil prices dip.

• Markets await Israel's response; possible relief rally.

• Treasury yields fluctuate amid inflation concerns, eased by safe-haven buying.

• Goldman Sachs & M&T Bank earnings due Mon; key economic data awaited.

EARNINGS

What we’re watching this week:

• Today: Chales Schwab (SCHW), Goldman Sachs (GS)

• Tuesday: Bank of America (BAC), Interactive Brokers (IBKR), Johnson & Johnson (JNJ), Morgan Stanley (MS)

  • UnitedHealth (UNH) - earnings of $6.14 per share, up 7.3% year-over-year (YoY), on revenue of $92.4 billion (+3.0% YoY)

• Wednesday: US Bancorp (USB), Discover Financial Services (DFS)

• Thursday: Blackstone (BX)

  • Netflix (NFLX) - expect NFLX to report Q1 earnings of $4.20 per share (+45.8% YoY) on revenue of $8.6 billion (+5.8% YoY)

• Friday: American Express (AXP)

  • Proctor & Gamble (PG) - earnings of $1.31 per share (-4.4% YoY) on revenue of $19.0 billion (-5.5% YoY)

Full earnings calendar here

HEADLINES

US Seeks UN Response to Iran Attacks; Markets on Edge [live updates]

Likely Market Reaction After Iran Attacks Israel

• Biden gets pushback over telling Israel to avoid counterattack on Iran (more)

• Yellen says nothing off table in response to China overcapacity (more)

• Wall Street keeps underestimating the US economy (more)

• Emerging markets battle weak currencies as Dollar crushes peers (more)

• Gold jumps after Iran strike on Israel stokes haven demand (more)

• Oil prices could 'spike well above $100' if conflict escalates after Iran's attack on Israel (more)

  • Oil traders weigh risks of Iran-Israel conflict in tight market (more)

• New metals sanctions push Russia further into China's embrace (more)

  • Metal traders get ready for fireworks after LME Russia ban (more)

• Inflation comes for the housing market (more)

• Apple’s iPhone shipments drop 10% as Android rivals rise (more)

• StubHub eyes summer IPO, seeks $16.5B valuation (more)

• Nike CEO blames remote work for innovation slowdown (more)

• OpenAI's Altman pitches ChatGPT Enterprise to large firms, including some Microsoft customers (more)

A MESSAGE FROM DYLAN JOVINE

Dear Fellow Investor,

The US dollar has been the lifeblood of global finance and trade since World War II...

Yet, the New York Times just reported, "The dollar is finished as the world's reserve currency."

Nations ranging from Brazil and Argentina to India and Bangladesh - are exploring the Chinese yuan for trade and payments.

And with the escalating tensions in the Middle East...

The US's reputation is only becoming more polarized around the world.

That means, we should expect to see even more countries moving away from the dollar.

Here's what you can do to protect your retirement account >>>

"The Buck Stops Here."

Dylan Jovine

Chairman, Behind the Markets

DEALFLOW

M+A | Investments

• US Steel shareholders approve $14.9B buyout by Nippon Steel (more)

• Software giant Salesforce in advanced talks to buy Informatica (more)

• BNP Paribas to acquire Fosun's around 9% stake in Belgian insurer Ageas (more)

• Halle Capital-backed True Environmental buys Triton (more)

• Peak Rock-backed Amtech acquires Label Traxx (more)

• Transom-backed Scantron buys Btech (more)

• OceanSound acquires Message Broadcast in partnership with EIP (more)

• Serent Capital invests in Traumasoft (more)

• E Tech Group, an automation system integrator, received a strategic investment from Graham Partners (more)

VC

• Auradine, a provider of web infrastructure solutions, including blockchain, security, and AI, raised $80M in Series B funding (more)

• Captura, a direct ocean capture company, expanded its Series A to a total of $45.3M (more)

• Anrok, a provider of a sales tax platform for software companies, raises $30M in Series B funding (more)

• Trident IoT, a silicon provider and RF technology company focused on decreasing time-to-market for connected device manufacturers, raised $10M in funding (more)

• Bored Slot, a real live slots gaming venture by Spin City, raised $10M in funding (more)

• Writ, a startup that enables companies to use data to make decisions, raised $3.8M in Seed funding (more)

• Dark Watch, a risk intelligence platform, received an undisclosed amount of venture capital funding (more)

First time reading? Get tomorrow’s briefing here with one click »

CRYPTO

Powered by MILKROAD - Get smarter about crypto in 5 min.

• Bitcoin rebounds from slump triggered by Iran’s attack on Israel (more)

• Gold-backed PAXG token spikes to $2.9K amid geopolitical tensions (more)

• Bitcoin ‘halving’ will deal a $10 Billion blow to crypto miners (more)

BULLISH BITES

🚀 Next level: THL’s co-chief executive on why his firm is bucking every trend in private equity.

🧠 Go How Spotify AI plans to know what’s going on inside your head.

🤖 AI creep: Generative AI is coming for healthcare, and not everyone’s thrilled.

📈 Time worthy: You might want to consider listening to this podcast. The host manages a $1.6 trillion investment fund.

🔥 Recommended: Our friends at Carbon Finance send out a weekly visual newsletter with the most important infographics, insights, and insider trades - Check it out »

DAILY SHARES

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