Meta's 'Twitter Killer'

BEFORE THE OPEN

Markets:

Stock futures largely unchanged after Wall Street's losing session…

• Dow futures down 27 points (0.08%); S&P 500 and Nasdaq-100 futures remained flat.

• JetBlue shares dipped in extended trading after ending northeast U.S. partnership with American Airlines; focuses on Spirit Airlines instead.

• Wall Street resumed trading after Fourth of July break, recording modest losses; Dow lost 129.83 points (0.38%), S&P 500 dipped 0.2%; both snapped three-day win streaks; Nasdaq down 0.18%.

• Fed's June meeting minutes reveal majority support for more rate increases; no hike this round.

• Traders predict an almost 89% chance of rate hike this month according to CME Group’s FedWatch tool.

• Short trading week continues Thursday with fresh economic data including ADP private payrolls data, initial jobless claims, S&P Global services PMI, and ISM services PMI.

EARNINGS

What we’re watching this week:

• Today: Levi Strauss (LEVI)

• Friday: AZZ (AXX)

• Next week’s calendar here

NEWS BRIEFING

• 'Almost all' Fed officials agreed to skip June hike (more)

• Spread between 2- and 10-year Treasuries at deepest inversion since '81 (more)

• Saudi Arabia, Russia deepen oil cuts, sending prices higher (more)

• US factory slump deepens; construction spending surges (more)

• Goldman Sachs loses top M&A ranking for first time in five years (more)

• Samsung profit likely lowest in more than 14 years as chip glut persists (more)

• Meet Threads, Meta's new ‘Twitter Killer’ (more)

• TikTok media gaining subscribers from French riots (more)

• Tesla's valuation set to rise over $50 billion after Musk's EV price cuts boosted deliveries to an all-time high (more)

• Chevy Rolls out electric version of a classic model (more)

• ChatGPT's explosive growth shows first decline in traffic since launch (more)

• Goldman Sachs Is in talks to exit Apple partnership (more)

• Musk, Zuckerberg lead a $852 billion surge among world’s richest people (more)

• Apple cuts vision pro goals after production issues (more)

• Microsoft judge grills US regulator on user harm from Activision merger (more)

• Tyson will stop using its ‘no antibiotics ever’ label on chicken (more)

DEALFLOW

• Mars to buy healthy food maker Kevin's Natural Foods (more)

• Monster close to buying rival Bang Energy For $362 million (more)

• OMERS, APG to buy Dutch meters business Kenter in $764 mln deal (more)

• Australia's United Malt agrees to $1B takeover offer from France's InVivo (more)

• Planeteer Capital launches (more)

• L3Harris explores sale of $1 billion avionics unit (more)

• Boxhub raises $12.4M in Series A funding (more)

• Slang.ai raises $20M in funding (more)

• Alcott Enterprises acquires Shadow Systems (more)

• Donaldson acquires Univercells Technologies (more)

• Flywheel raises $54M in Series D funding (more)

• Redpanda Data raises $100M in Series C funding (more)

• Revcast closes $3M seed funding (more)

• Nuvocargo raises $36.5M in Series B funding (more)

CRYPTO

• BlackRock CEO Declares Bitcoin An “International Asset” (more)

• Class Action Vs. Ripple: Judge Allows US XRP Investors To Pursue Securities Claims (more)

• Crypto Miners Are Selling Bitcoin With Prices Near One-Year High (more)

• Singapore's MAS Orders Crypto Firms to Keep Customer Assets in a Trust by Year-End (more)

• Ethereum-Based Yield Powerhouse Pendle Finance Expands to BNB Chain (more)

SHARES

Enjoy your day and see you tomorrow -mb