BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↑ 50.83% for Week of September 19 2024

Market Wrap:

• Dow futures flat after last week's rate cut hit record close.

• Stocks rallied post Fed’s 50 bps rate cut.

• Dow closed above 42,000; S&P hit new highs.

• Lazard market strategist: Fed signals action to prevent labor market weakness.

• Today: service/manufacturing data & Fed speeches.

EARNINGS

Here are the earnings we’re watching this week.

• Monday: [none watched]

• Tuesday: KB Home (KBH)

• Wednesday: Jefferies (JEF)

  • Micron Technology (MU) - earnings of $1.13 per share (vs a per-share loss of $1.07 in the year-ago period). Revenue of $7.6B expected (+90% YoY)

• Thursday: BlackBerry (BB), CarMax (KMX)

  • Costco Wholesale (COST) - earnings of $5.08 per share (+4.5% YoY) on $79.9B revenue (+1.3%)

• Friday: [none watched]

See full earnings calendar here.

HEADLINES

Traders Need a New Market Playbook for These Rate Cuts

Middle Eastern Funds are Plowing Billions Into the Hottest AI Start-Ups

• Harris to unveil economic policy plans this week (more)

• Fed about to get validation for its jumbo rate cut (more)

• The 10-yr Treasury yield is the most important interest rate (more)

• Gold breaks $2,600 barrier as Fed cut bets prolong historic run (more)

• Oil edges up following rate cut move, geopolitical concerns (more)

• Asia stocks hold steady as more rate cuts loom (more)

• TSMC, Samsung weigh major new chip factories in UAE (more)

• Nvidia teams up with AI firm G42 to create climate tech lab (more)

• Apple’s new iPhone 16 reflects a slowing pace of innovation (more)

• FedEx flags major shift in consumer behavior that’s hurting profits (more)

• SpaceX plans to launch five uncrewed Starships to Mars in two years (more)

• J&J unit files for bankruptcy to advance $10 billion talc settlement (more)

• X is capitulating to Brazil’s Supreme Court (more)

• Stellantis Chair targeted in 75 mln euro seizure over alleged tax fraud (more)

TOGETHER WITH BEHIND THE MARKETS

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Even ChatGPT founder Sam Altman says AI depends on this company's work...

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DEALFLOW

M+A | Investments

• Chipmaker Qualcomm to explore takeover of Intel (more)

• Apollo eyes $5 billion investment in Intel (more)

• Blackstone to sell Motel 6 brand to Oyo in $525M deal (more)

• Clean-energy firm Masdar nears deal to buy Brookfield’s Saeta Yield (more)

• VaLogic Bio, compliance and SaaS services, acquired Facility Logix, a firm specializing in project management for life sciences facilities (more)

• Lumivero, qualitative data analysis software NVivo, acquired ATLAS.ti, a QDA solution for qualitative, quantitative, and mixed-method research (more)

• Hummingbird, financial crime risk management solutions, acquires LogicLoop, a company specializing in no-code data integration and automation (more)

• Interplay Learning, a provider of immersive skilled trades training, secured funding from Goldman Sachs Alternatives (more)

• Hippocratic AI, a company building a safety-focused LLM for healthcare, received an investment from NVentures (more)

VC

• 11x, an AI startup transforming the modern workforce with autonomous digital workers, raised $24M in Series A funding (more)

• Functional Finance, a FinOps platform for managing general agents, insurance companies, and wholesalers, raised $20M in Series A funding (more)

• Ferrum Health, a software platform for deploying AI into health systems, raised $16M in Series A funding (more)

• HavocAI, a company specializing in autonomous uncrewed surface vessel technology, raised $11M in Seed funding (more)

• Momos, an AI-powered customer platform for multi-location brands globally, raised $10M in Series A funding (more)

• Tidal Metals, a deep-tech company, closed an $8.5M Seed funding round (more)

• Schematic, a company improving pricing and packaging for B2B SaaS companies, raised $4.8M in funding (more)

• Statt, a big data and AI company for the public policy, regulatory, and strategic communications sectors, raised $2.8M in Seed funding (more)

CRYPTO

• Altcoins surge leaving Bitcoin and Ether behind after Fed cuts interest rate (more)

• SEC approves Nasdaq to list options on iShares Bitcoin Trust ETF (more)

• MicroStrategy raises $1 billion to buy Bitcoin, redeem notes (more)

BULLISH BITES

🚨 Breaking: Collect “royalties” every time Nvidia makes a chip? *

🤯 3 Mile Island? Microsoft AI needs so much power it's tapping site of nuclear meltdown.

🗣 Bot Convo’s: The joys of talking to ChatGPT.

📖 Memoir: In ‘Money Trap,’ an ex-SoftBank executive revisits the madness.

🧦 Revolution: Cashmere sock shoes are the newest style flex for your feet.

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