Meet <> Llama

BEFORE THE OPEN

Markets:

• U.S. stock futures little changed Tuesday night.

• Dow Jones futures down 0.03%, S&P 500 and Nasdaq 100 futures dip 0.06% and 0.09%.

• Carvana shares drop over 9% in extended trading.

• Dow Jones notches 7th straight positive session, longest streak since March 2021.

• Second-quarter earnings season starts strong: 82% of S&P 500 companies beat expectations.

• Goldman Sachs to report before open Wednesday. Netflix, Tesla, IBM, United Airlines to post earnings after close.

• June housing data: Housing starts expected to drop 9.3%, building permits anticipated to decline 0.7%.

EARNINGS

What we’re watching this week:

• Today: Netfilx (NFLX), Tesla (TSLA) - Discover Financial Services (DFS), Goldman Sachs (GS)

• Thursday: American Airlines (AAL), Blackstone (BX) Capital One Financial (COF), Johnson & Johnson (JNJ), Phillip Morris Int’l (PM)

• Friday: American Express (AXP)

• Full earnings calendar here

NEWS BRIEFING

Trump Says He's A Target In Jan 6.
Probe, Anticipates Arrest

• Americans bump up spending in June as inflation eases in a strong jobs market (more)

• Wall Street sees glimmer of hope for investment-banking revival (more)

  • Morgan Stanley’s Gorman says investment banking, trading downturn ‘has bottomed’ (more)

• Homebuilder sentiment rises again in July, but builders warn higher mortgage rates are hurting (more)

• China’s top chipmaker loses Chairman in latest Exec exit (more)

• Johnson & Johnson sues Biden administration over Medicare drug price negotiations (more)

• Russia strikes Ukraine grain port after exiting export deal (more)

• UN says ideas 'floated' on how to get Ukraine, Russia grain to world (more)

• Microsoft closes at record high after revealing pricing for A.I. subscription (more)

  • Microsoft, Activision watch hurdles to $69B deal fall (more)

• Facebook parent Meta makes public its ChatGPT rival Llama (more)

• Messaging platform Telegram has issued $270M in bonds to fund growth (more)

• Amazon seeks to boost India ties with startup reality show (more)

• Republican lawmakers urge FTC to drop fight against Microsoft deal for Activision (more)

• Fervo Energy hits milestone in using oil drilling technology to tap geothermal energy (more)

• A Warren Buffet company held liable for wildfires is spooking utility investors (more)

DEALFLOW

• Abu Dhabi's ADNOC raises Covestro takeover bid to $12.3B (more)

• Buyout firm THL agrees $1.6B deal for Standish Mgmt (more)

• Chipotle to open restaurants in Middle East through first franchise deal (more)

• Searchlight to buy UK asset manager Gresham House for $615M (more)

• Novartis raises outlook, plans buyback of up to $15B (more)

• AirDNA acquires Arrivalist (more)

• Nav acquires Tillful (more)

• TargetVideo aacquires Brid.TV (more)

• Signant Health acquires DSG (more)

• Novartis acquires DTx Pharma, for approx. 1 Billion (more)

• Bluesight receives strategic growth investment from Thoma Bravo (more)

• Spline raises $15M in Seed funding (more)

• Bureau extends Series A funding to $16.5M (more)

• Hammerspace raises $56.7M in First funding (more)

• Futureverse raises $54M in Series A funding (more)

• Wing Cloud raises $20M in Seed funding (more)

• Anduin closes $15M Series B (more)

• Offsite raises $3M in funding (more)

• Prospective raises $6M in Seed Funding (more)

• Bowery Valuation closes $16.3M extension of Series B (more)

• VitalConnect secures over $30M in Series F financing (more)

• CoinFund closes $158M Seed IV Fund (more)

• Truckstop buys FreightFriend (more)

• Cognaize closes $18M Series A Funding (more)

• Verismo Therapeutics raises $17M in second Pre-Series A (more)

• Evertas acquires Bitsure (more)

CRYPTO

• Bitcoin dips below $30,000, and Gensler says SEC ‘disappointed’ with part of XRP ruling (more

• Binance’s lead in offshore market share shrinks as rivals gain ground (more)

• Survey finds 47% of investors expect Ethereum to 'surpass' Bitcoin (more)

• Celsius To Sell Self-Custody Platform For 78% Loss, But It Gets Worse (more)

• Silvergate who? The Pennsylvania bank that’s taking crypto by storm (more)

BULLISH BITES

🤝 Persuasion 101: Coaxed to the US with an unusual sports contract —meet the billionaire who convinced Messi to pick MLS over Saudi Arabia… (see the deal)

🧠 EQ > IQ: Richard Branson says EQ is more important than IQ for success. And a boatload of science backs him up… (read more)

SHARES

Have another cup, see you in the morning… -mb