The new dream car?

AT&T discloses leak of 73 million accounts to dark web, Xiaomi releases electric 'dream car' to take on Tesla, consumer sentiment climbs to 2 ½-year high, China factory activity expands for first time in 6 months, Tupperware warns close to going out of business after 77 years…

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Market Briefing
April 01, 2024

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Good morning.

The Fast Five → AT&T discloses leak of 73 million accounts to dark web, Xiaomi releases electric 'dream car' to take on Tesla, consumer sentiment climbs to 2 ½-year high, China factory activity expands for first time in 6 months, Tupperware warns close to going out of business after 77 years…

Calendar: (all times ET)

TUE 4/2:

Job openings, 10am

WED 4/3:

Fed Chair Powell, 10am

THU 4/4:

Jobless claims, 8:30am

FRI 4/5:

Unemployment rate, 8:30am

Your 5-minute briefing for Monday, April 1:

BEFORE THE OPEN

As of market close 3/28/2024. Bitcoin as of 3/31/2024.

Pre-Market:

US Investor % Bullish Sentiment:
50.00% for Wk of Mar 28 2024 (Last week: 43.20%)

Market Recap:

  • Stock futures inch up as Q2 starts: Dow by 0.2%, S&P 500 and Nasdaq-100 by 0.3% and 0.5%.

  • Feb inflation matches expectations at 2.8%.

  • Q1 winners: S&P 500 up 10.2%, Dow up 5.6%, Nasdaq up 9.1%.

  • March sees S&P and Dow up 3.1%, Nasdaq up 1.8%.

  • AI stocks, Nvidia fuel market; Fed eyes rate cut in June.

  • Strong Q1 gains historically predict further rally, strategist says.

  • Upcoming data: Feb construction spending, March ISM manufacturing, and March jobs report on Friday.

EARNINGS

What we’re watching this week:

  • Tuesday: Cal-Maine Foods (CALM)

  • Wednesday: Levi Strauss (LEVI)

  • Thursday: Lindsay (LNN), Simply Good Foods (SMPL)

    • Lamb Weston (LW) - earnings of $1.46 per share for fiscal Q3. Revenue expected to rise 31% to $1.7 billion.

Full earnings calendar here

HEADLINES

The data set includes personal information such as Social Security numbers and email addresses

Xiaomi formally launched its much-anticipated electric car — the new Speed Ultra 7 (SU7) sedan — on Thursday night in Beijing.

  • Biden says Arab states ready to recognize Israel in future deal (more)

  • Key Fed inflation gauge rose 2.8% annually in February, as expected (more)

  • Consumer sentiment climbs to 2½ yr high as inflation eases (more)

  • Oil steadies after quarterly surge with Chinese demand in focus (more)

  • US oil suppliers muscling into OPEC+ markets around the world (more)

  • China factory activity expands for first time in six months (more)

  • Billions flood active ETFs in hunt for cheap developing stocks (more)

  • Walmart, Chipotle are splitting the wealth of a record stock market in a way they haven't in decades (more)

  • Kia recalling 430,000 Tellurides over rollaway risk (more)

  • New pollution rules aim to lift sales of electric trucks (more)

  • Generative AI ‘FOMO’ is driving tech heavyweights to invest billions of dollars in startups (more)

  • Tupperware warns it could go out of business over liquidity problems (more)

TOGETHER WITH PROMPTS DAILY

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DEALFLOW

M+A | Investments

  • Nippon Steel emphasizes its 'deep roots' in US as it pursues US Steel deal (more)

  • Keysight bids £1.2 Billion for Spirent, overtaking Viavi (more)

  • Home Depot bulks up Pro-business with $18.25B deal for building products supplier SRS (more)

  • Southwest Airlines purchases SAFFiRE Renewables (more)

  • Stash explores options with advisers including possible sale (more)

  • Oakley Capital considers sale of Ocean Technologies Group (more)

  • Bending Spoons ends pursuit of video platform Vimeo (more)

  • Blackstone sells $1 Billion of California warehouses to Rexford (more)

  • Wonderschool, a provider of a child care platform, acquired EarlyDay, an early childhood career marketplace (more)

  • Landing, provider of a membership for flexible apartment living, acquired Barsala, a tech-enabled flexible housing operator (more)

  • AIP-backed CES Power acquires ABird/Apex Power Solutions (more)

  • Trinity Hunt-backed Supreme Group buys Health+Commerce (more)

  • Alpine-backed Axcel Learning buys KMK Optometry (more)

  • Bain Capital Insurance invests in Emerald Bay Risk Solutions (more)

  • Solace Capital Partners Invests in Siprocal (more)

  • Flexpoint Ford makes majority investment in Accuserve (more)

VC

  • Celestial AI, a creator of an optical interconnect technology platform, raised $175M in Series C funding (more)

  • Coro, a cybersecurity platform purpose-built for SME's, secured $100M in Series D funding (more)

  • Lightshift Energy, a energy storage development company, raised $100M from Greenbacker Capital Management (more)

  • Pelago, a digital clinic partner to U.S. businesses and health plans for substance use management, raised $58M in Series C funding (more)

  • Hume AI, a startup and research lab building AI optimized for human well-being, raised $50M in Series B funding (more)

  • Blueground, a global operator of furnished, flexible rentals for 30+ day stays, raised $45M in Series D funding (more)

  • Zilliant, a leader in pricing lifecycle management, received a $35M investment from Madison Dearborn Partner (more)

  • NewRetirement, a digital-first financial planning platform for consumers and enterprise partners, closed its Series A round with $20M in funding (more)

  • Vizcom, a company deploying AI for industrial design, raised $20M in Series A funding (more)

  • Champ Titles, a provider of digital vehicle title, registration, and lien systems of record in the US, raised $18M in Series C funding (more)

  • TurbineOne, a company specializing in government Machine Learning, raised $15M in Series A funding (more)

  • MyShell, a decentralized AI consumer layer, raised $11M in Pre-Series A funding (more)

  • Oka, a carbon insurance company, raised $10M in funding (more)

  • Sprocket Security, a provider of an expert-driven offensive security platform, raised $8M in Series A funding (more)

  • Benjamin Capital Partners, a holding company for the cash-rewards app, raised $5.5M in Seed funding (more)

  • Ensis, a startup developing AI-powered proposal software, raised $4M in Seed funding (more)

  • SydeLabs, a security and risk management startup, raised $2.5M in Seed funding (more)

  • Soracom, a provider of advanced connectivity for the Internet of Things, received an investment from Suzuki Global Ventures (more)

CRYPTO

  • Sam Bankman-Fried sentenced to 25 years for FTX fraud (more)

  • Crypto social media firm Merkle gets unicorn valuation in Paradigm deal (more)

  • Dogwifhat becomes third-largest meme coin as Bitcoin clings to $70K (more)

BULLISH BITES

🚘 Stealth mode: Hyundai and Kia are quietly taking over America's driveways.

🇨🇳 Inside look: How Xi Jinping plans to overtake America.

🍦 Ben & Jerry’s or Haagen-Dazs? Investors are spoiled for choice as food giants put their ice-cream units up for sale.

💍 New beginning: With this ring, I unwed. "Divorce Rings" are having a moment.

👜 Not haute: The implosion in luxury ecommerce.

DAILY SHARES

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