Musk to slash gov't spending

Musk, Ramaswamy to lead Trump's ‘Dept of Government Efficiency' (includes leaderboard for 'most insanely dumb spending of your tax dollars'), Nvidia and SoftBank pilot world's first AI and 5G telecom network, VW and Rivian kick off $5.8B joint venture, the Wall Street CEO raising his hand to run Trump’s economy, and Apple’s next device is an AI wall tablet...

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Market Briefing
November 13, 2024

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Good morning.

The Fast Five → Musk, Ramaswamy to lead Trump's ‘Dept of Government Efficiency’ (includes leaderboard for 'most insanely dumb spending of your tax dollars),’ Nvidia and SoftBank pilot world's first AI and 5G telecom network, VW and Rivian kick off $5.8B joint venture, the Wall St CEO raising his hand to run Trump’s economy, and Apple’s next device is an AI wall tablet…

⚡️ The Biggest Post-Election Market Shift Ever?
From Stansberry Research

Calendar: (all times ET) - Full calendar here

  • Today:
    Consumer price index (CPI), 8:30 am

    Fed speakers

  • Tomorrow:
    Initial jobless claims, 8:30 am
    Producer price index (PPI), 8:30 am

Your 5-minute briefing for Wednesday, November 13:

BEFORE THE OPEN

As of market close 11/12/2024.

Pre-Market:

US Investor % Bullish Sentiment:
↑ 41.54% for Week of November 07 2024

Last week: 39.48%. Updates every Friday.

Market Wrap:

  • Futures dip as markets await CPI data for inflation insight.

  • Dow fell 382 points Tuesday; S&P -0.3%, Nasdaq -0.1%.

  • October CPI expected to rise 0.2%, annual rate at 2.6%.

  • Key data week: CPI today, PPI (Thu), retail sales (Fri).

  • Fed’s rate cut may lessen market sensitivity to data.

EARNINGS

Here’s what we’re watching this week.

  • Today: Shopify (SHOP), Sonos (SONO), UBS (UBS)

    • Cisco (CSCO) - earnings of $.87 cents per share (-21.6% YoY) on $13.8B revenue (-6.1% YoY)

  • Thursday:

  • Friday: Alibaba (BABA)

See full calendar here.

HEADLINES

The network can run AI and 5G workloads concurrently, a process known as an artificial intelligence radio access network (AI-RAN), the companies said.

  • The Wall Street CEO raising his hand to run Trump’s economy (more)

  • Stocks slide on unease over jump in bond yields as focus turns to inflation (more)

  • Apollo’s Kleinman says ‘open your eyes,’ inflation not tamed (more)

  • Oil prices hold near 2-wk low after OPEC cuts demand view, dollar rises (more)

  • Trump tariff fears prompt supply chain scramble (more)

  • It’s ‘game on’ for deals in the US, Citigroup CEO says (more)

  • Buffett’s Berkshire is being packaged into a leveraged ETF (more)

  • Apple’s next device is an AI wall tablet for home control, Siri and video calls (more)

  • VW and Rivian officially kick off $5.8 billion joint venture (more)

  • Boeing employees face sweeping layoffs this week (more)

  • Spotify shares pop on better-than-expected profit forecast (more)

  • Spirit Airlines eyes bankruptcy as Frontier talks fail (more)

  • Blackstone backs Brigade with $300M investment for private credit, CLOs (more)

  • OpenAI co-founder returns after three months of leave (more)

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DEALFLOW

M+A | Investments

  • Elliott amasses $5 billion+ stake in Honeywell (more)

  • US sues to block UnitedHealth’s $3.3 billion Amedisys deal (more)

  • Cryptocurrency data provider Kaiko acquires Vinter (more)

  • Stonepeak agrees to buy private credit investment firm Boundary Street (more)

  • Snyk, a company specializing in developer security, acquired Probely, a dynamic application security testing provider (more)

  • SMC Entertainment, a fintech company for financial services and tech companies, acquired Bateau Asset Management, a boutique investment manager (more)

  • SAS, an innovator in data and AI, acquired the principal software assets of Hazy, a synthetic data technology company (more)

  • Presidio, a technology services and solutions provider, acquired a majority stake in Contender Solutions, an Elite ServiceNow partner (more)

  • Brava, an independent provider of composite roofing materials, received an investment from Golden Gate Capital (more)

VC

  • Firefly Aerospace raises $175M in new funding round (more)

  • ScaleOps, a real-time automated cloud resource management company, raised $58M in Series B funding (more)

  • 11x, a company developing AI-powered digital workers services for revenue teams, raised $50M in Series B funding (more)

  • Prokeep, a customer communication and engagement platform for distributors, raised $25M in Series A funding (more)

  • PointFive, a cloud cost optimization platform, raised $20M in Series A funding (more)

  • Shiru, an AI-powered ingredient discovery company, $16M in funding (more)

  • Alison.ai, a company specializing in creative AI solutions for advertising, raised $13.3M in Seed funding (more)

  • Vatn Systems, a defense tech company building autonomous underwater vehicles for the military, raised $13M in Seed funding (more)

  • Eaze Inc., a cannabis delivery company, raised $10M in Series B funding following the acquisition of select assets from Eaze Technologies Inc. (more)

  • Zengines, an AI-based data management software company, raised $9M in funding (more)

  • Ennoventure, an AI-powered brand protection and authentication solutions company, raised $8.9M in Series A funding (more)

  • General Galactic, a fossil-free fuel generation tech company, closed an $8M seed funding round (more)

  • BetHog, a crypto casino and sportsbook, raised $6M in Seed funding (more)

  • Helix Earth Technologies, a hardware company providing clean tech solutions, raised $5.6M in Seed funding (more)

  • Fort Health, an in-network, virtual, pediatric mental health company, raised $5.5M in funding (more)

  • myBiometry, an asthma and COPD diagnostic and remote monitoring company, raised $5M in Seed Funding (more)

  • hotglue, a B2B SaaS provider of embedded integrations, raised $4M in seed funding (more)

  • HappyPath, a startup helping companies deliver products faster through comprehensive automated testing, raised $4M in Angel funding (more)

CRYPTO

  • Dogecoin surges 20% after Trump announces a Dept of Government Efficiency — DOGE (more)

  • Swagger returns to crypto as Bitcoin soars (more)

  • Bitcoin blasts to $90K as crypto rally shakes out $900M of leveraged bets (more)

  • Coinbase launches COIN50 Index to track digital assets (more)

BULLISH BITES

🌎 Dominance: Donald Trump’s EPA pick wants to ‘make America the AI capital of the world’.

🚖 No Waitlist: Waymo’s robotaxis are now available to everyone in Los Angeles.

😴 Zzz Gadgets: Is ‘smart sleep’ is worth the cost?

❄️ Recovery Tech: ‘Snow rooms,’ sweltering ‘float tanks’ and cryochambers. People are bringing extreme temperatures home.

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