BEFORE THE OPEN

MARKETS:

• Dow surges 0.96% on IPO market revival and strong economic data

• S&P 500 up 0.84%, Nasdaq rises 0.81%

• Arm shares soar 24.7% in major tech offering

• Economic reports show controlled core inflation and robust retail sales in August

• European Central Bank hikes rates but hints at easing inflation; U.S. Fed likely to keep rates unchanged

• Adobe's quarterly results expected after market close

EARNINGS

• Full earnings calendar here

NEWS BRIEFING

Chip Designer Arm Jumps 25% in Debut Win for Owner SoftBank

Disney Holds Initial Talks on Sale of ABC to Local Broadcaster Nexstar

• August wholesale inflation rises 0.7%, hotter than expected (more)

  • Treasury yields spike after report hints at sticky inflation (more)

• European Central Bank hikes rates to record level, hints at possible peak (more)

• China accuses EU of ‘naked protectionism’ in fight for EV market (more)

• For Saudi Arabia, $100-a-barrel oil is already here (more)

• China’s military spending is much bigger than we thought (more)

• Airlines warn higher costs will eat into profits (more)

• Ray Dalio says he doesn’t want to hold bonds, cash ‘is good’ (more)

• Hackers claim MGM cyberattack as outage drags into fourth day (more)

• Luxury sector cut at Barclays, Deutsche Bank on China woes (more)

• Manhattan median rent remains at record high of nearly $4,400 a month (more)

• Shipping giant Maersk unveils world’s first vessel using green methanol (more)

• Delta will make it harder to get into airport lounges, changes rules to earn elite status (more)

• Tesla reinvents carmaking with quiet breakthrough (more)

• Goldman Sachs fires Transaction Banking Chief and other leaders over lapses (more)

• Kevin Hart’s tequila brand strikes deal with Philadelphia Eagles as spirits push deeper into sports (more)

• Craigslist founder Craig Newmark is pouring millions of dollars into combating AI’s dark side (more)

• Johnson & Johnson is getting rid of its script logo after more than 130 years (more)

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DEALFLOW

• ConocoPhillips signs 15-year LNG deal at Gate terminal in Netherlands (more)

• Trucking firm Estes Express submits revised $1.525 billion bid for Yellow's shipment centers (more)

• Apollo Global among suitors for IGT's global gaming division (more)

• SocGen open to sale of Equipment Finance unit in strategy review (more)

• Vista said to prepare for sale of sports data firm Stats Perform (more)

• Databricks, a Data and AI company, raised over $500M in Series I funding which valued it at $43 billion (more)

• EquipmentShare, an equipment and digital solutions provider serving the construction industry, raised additional $150M in Series E funding (more)

• Unlock Technologies, a home equity investment technology company, received a $100M revolving credit facility (more)

• Actio Biosciences, a biotechnology company, closed a $55M Series A financing (more)

• Summus, a virtual health company, raised $19.5M in funding (more)

• Exostellar, a provider of a cloud resource optimization and management platform, raised $15M in Series A funding (more)

• Ometria, a provider of a customer data and experience platform (CDXP), received £8M from CIBC Innovation Banking (more)

• Delos Insurance Solutions, an insurance protection company, raised $7.3M in Seed funding (more)

• Sailes, an AI startup that developed patent-pending Sailebots to automate all points in the prospecting lifecycle, raised $5.1M in Series A funding (more)

• Glass Health, a provider of an AI-powered clinical decision support platform, raised $5M in funding (more)

• ReSeed, a regenerative nature based services provider, raised $4.6M in Seed funding (more)

• Orbee, a technology service provider for the automotive industry, raised $4M in Series A funding (more)

• Patronus AI, a provider of an automated evaluation and security platform that helps companies use large language models (LLMs) safely, launched out of stealth with a $3M in seed funding (more)

• Spectro Cloud, a provider of a platform about Kubernetes management, received an investment from Qualcomm Ventures (more)

• Nagraj Kashyap, Priya Saiprasad, and Samir Kumar announced the launch of Touring Capital, an SF venture capital firm focused on investing in the next generation of early-growth stage, AI-powered SaaS startups around the world (more)

• Layer N, a developer of a scalable layer 2 blockchain, raised a funding round of undisclosed amount (more)

M & A:

• Taiwan’s WT buys Future Electronics for $3.8 billion amid probe of founder (more)

• GI Partners acquires ASK4 (more)

• Spark Hire, a provider of a video interviewing platform, acquired Chally, a talent assessment software provider (more)

• GTCR, a private equity firm, acquired Foundation Source, a provider of philanthropy management solutions (more)

CRYPTO

• Singapore Central Bank bans Zhu, Davies over Three Arrow (more)

• Pantera eyes mid-stage Crypto firms after valuations sink (more)

• Bitcoin Fog case puts spotlight on Chainalysis Crypto tracing (more)

• Polygon 2.0 — MATIC conversion to POL outlined in preliminary improvement proposals (more)

BULLISH BITES

✅ How Sam Bankman-Fried’s Elite Parents Enabled His Crypto Empire
 → Bloomberg

🎧 [Audio] The Obesity Drug Boom is Just Getting Started
Over 1 bln people are obese. Denmark’s Novo Nordisk is ahead of the pharma pack with its Wegovy weight-loss drug. CEO Lars Jorgensen says the market will be big enough for other players too. Listen in → Listen

🥃 A Revived Cocktail-Making Method Blends Magic with Mad Science
A whiskey concoction that taste like Chardonnay? A martini made with sheep's milk? Welcome to the world of clarified cocktails → Bloomberg

DAILY SHARES

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