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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
40.86% for Wk of May 16 2024 (Last week: 40.82%)

Market Recap:

• Stocks fell Wed on Fed minutes hinting at persistent inflation.

• Fed minutes suggest potential rate hikes.

• Dow dropped 201.95 points (0.51%), its worst session in May.

• S&P lost 0.27%, Nasdaq fell 0.18%

• Target fell 8% on weak earnings, raising consumer spending concerns.

EARNINGS

What we’re watching this week:

• Today: Intuit (INTU), Workday (WDAY)

Full earnings calendar here

HEADLINES

Nvidia Shares Pass $1,000 for First Time on AI-Driven Sales Surge

White House Signals Biden Will Sign Crypto Market Bill if it Passes Congress

• House approves crypto FIT21 bill with wave of democratic support (more)

  • US securities regulator urges against crypto bill adoption (more)

• Fed shifts talk to 'scenarios' as policy grows less certain (more)

• Goldman Sachs CEO says he sees "zero" rate cuts this year (more)

• Biden widens student loan relief to more than 10% of borrowers (more)

• Existing-home sales unexpectedly fall, prices stay high (more)

• Oil prices maintain losing streak on inflation confusion (more)

• Goldman sees more dollar strength amid fight against inflation (more)

• Most Americans falsely think the US is in recession (more)

• Latin America’s steel tariffs won’t push China away (more)

• Target, Walmart shoppers seek home goods, grocery delivery online (more)

• US consumer watchdog will apply credit card rules to buy now, pay later companies (more)

• Pfizer aims to save $1.5B by 2027 in first wave of new cost cuts (more)

• OpenAI inks deal with News Corp. to improve ChatGPT (more)

• Amazon to give Alexa an AI overhaul — and a monthly subscription price (more)

DEALFLOW

M+A | Investments

• Anglo opens talks with BHP after rejecting $49B offer (more)

• Firefly Aerospace backers explore $1.5B sale (more)

• Disney said to sell stake in Tata’s $1 Billion India TV platform (more)

• NFL owners delay private equity vote to allow more deal talks (more)

• Lagardere says it is closing in on sale of Paris Match Magazine to LVMH (more)

• Deutsche Bahn gathers bids for €15B logistics arm (more)

• Cover Whale Insurance Solutions, a insurtech company, raised $27.5M in debt and equity from investment funds managed by Morgan Stanley Expansion Capital (more)

• XponentL, a data and AI consultancy, raised a strategic investment from Databricks Ventures and Inoca Capital Partners (more)

• Velotix, a AI-driven DSP, received an investment from Barclays Bank and Capri Ventures (more)

VC

• Suno, a music creation platform, raised $125M in funding (more)

• Coactive Systems, an AI powered platform to make image and video data useful, raised $30M in Series B funding at a $200M valuation (more)

• Allez Health, provider of a continuous glucose monitoring biosensor platform, raised a $60M Series A+ financing (more)

• Hydrolix, a streaming data lake platform, closed a $35M Series B funding (more)

• SOCRadar, provider of enterprise-grade, threat intelligence and brand protection solutions, raised $25.2M in Series B funding (more)

• PolarityTE, a biotech company developing regenerative tissue products, raised $22.5M in funding (more)

• Aerodome, a drone-as-first-responder (DFR) tech company, raised $21.5M in Series A funding (more)

• Expedera, a licensor of edge inference AI semiconductor IP, raised $20M in Series B funding (more)

• Verse, a software enabling organizations to understand, plan, and manage clean energy, raised a $20.5M Series A funding (more)

• Majority, a platform offering mobile banking and international services to migrants in the US, raised $20M in funding (more)

• Patronus AI, an automated evaluation and security platform, raised $17M in Series A funding (more)

• Max Retail, a marketplace for independent retailers and brands to sell excess inventory, raised $15M in Series A funding (more)

• Bolster, a multi-channel phishing protection company, raised $14M in Series B funding (more)

• Amino Health, a digital healthcare navigation company, raised $10M in funding (more)

• Superlegal, an AI platform for legal contract review for SMB’s, raised $5M in Seed funding (more)

• Skribe.ai, a legaltech platform, raised $3.5M in funding (more)

• Volt, a messaging operations infrastructure platform, closed its $3M seed funding round (more)

• InfinitForm, a company providing GenAI software, raised an undisclosed amount in Seed funding (more)

• healthŌme, a genomics-based precision health management company, raised an undisclosed amount in Seed funding (more)

CRYPTO

• Fed inflation doubts leave crypto markets flat (more)

• Why the crypto market is betting on spot-Ether ETFs (more)

BULLISH BITES

🫣 Oof: A $444 billion 'fat finger' trade crashed stocks.

🔑 Pursuits: Garry Tan has revealed his ‘secret sauce’ for getting into Y Combinator.

🚨 Investor alert: Central Banks preparing for US dollar collapse? *

⛔️ Flawed: Startup Humane is looking for a buyer after the AI Pin's underwhelming debut.

🥣 Health tech: This Japanese electric salt spoon makes low-sodium food taste better.

DAILY SHARE

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