BEFORE THE OPEN

MARKETS:

• Dow futures up 0.04%, S&P 500 and Nasdaq futures near flat.

• S&P 500 and Nasdaq gained 0.6% and 0.8% on previous day.

• Dow rises 0.6%, boosted by 3M's 5% rally due to lawsuit settlement.

• August has been challenging for stocks: Dow down 2.8%, S&P 500 down 3.4%, Nasdaq down 4.5%.

• Earnings today from Best Buy, Nio before the bell, and HP after the close.

• Home prices, job openings, and consumer confidence data due.

EARNINGS

What we’re watching this week:

• Wednesday: Salesforce (CRM)

• Thursday: Dell Technologies (DELL), Lululemon Athletica (LULU)

• Full earnings calendar here

NEWS BRIEFING

Auto Union Boss Wants 46% Raise, 32-Hour Work Week in ‘War’ Against Detroit Carmakers

OpenAI Launches ChatGPT Enterprise, the Company's Biggest Announcement Since ChatGPT's Debut

• Traders have S&P 500 comebacks fading at historic pace (more)

• Emerging-market rally runs into doubts over China and Fed policy (more)

• Trump DC trial set for March 2024, in thick of GOP presidential fight (more)

• Holzmann sees case for ECB rate hike if no surprises turn up (more)

• US and China agree to export control information dialogue (more)

• Dollar hits nine-month high against yen (more)

• US raises concerns by Micron, Intel with China (more)

• Intel says new 'Sierra Forest' chip to more than double power efficiency (more)

• Hawaiian Electric points finger at Maui County over devastating wildfires, stock jumps 40% (more)

• Nordstrom shutters flagship San Francisco store (more)

• Chevron: Workers at major Australia gas facilities to strike (more)

• Goldman is selling a wealth-advisory unit to $24B money manager (more)

• Google to begin selling maps data to companies building solar products (more)

• Tesla braces for its first trial involving Autopilot fatality (more)

• Farmers Insurance lays off 2,400 workers (more)

• Apple reportedly planning major iPad Pro upgrade (more)

• Florida baseball team lists entire stadium on Airbnb for $5,000 a night (more)

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DEALFLOW

• Cyber startup Wiz Is weighing potential bid for SentinelOne (more)

• Soros-backed company boosts stake in Polish newspaper publisher (more)

• Brazil's Natura mulls sale of The Body Shop (more)

• PE firm Tiger Global sells remaining stake in India's Zomato in $136M deal (more)

• Qualiti.ai, a provider of a software test automation solution, raised $6.5M in Seed funding (more)

• Hubstaff, a provider of a workforce management Software-as-a-Service (SaaS) platform, received an investment from WestView Capital Partners (more)

• Aditude, a provider of an ad operations technology solution for online publishers, raised $15M in Series A funding (more)

• Fvlcrum Partners, a lower middle market buyout firm, closed an over $302M fund, together with its sister fund entities (more)

• Redaptive, a Denver, CO-based energy-as-a-service (EaaS) company, secured $125M in financing (more)

• Tri Ri Asset Management, a New York-based asset manager, closed a venture capital fund, at $142M (more)

M & A:

• Life sciences firm Danaher to buy Abcam in $5.7B deal (more)

• Chinese carmaker BYD to buy US firm Jabil's mobility business for $2.2B (more)

• StanChart to sell jet leasing arm to Saudi wealth fund unit for $3.6B (more)

• China's Xpeng to acquire Didi's Smart EV Unit in deal worth up to $744M (more)

• UAE’s Pure Health to buy Circle Health in $1.2B deal (more)

• 3B Scientific, a manufacturer and marketer of medical simulation products and anatomical models for healthcare education, acquired iNNOGING Medical, a provider of a cloud-based SaaS solution for ultrasound simulation (more)

• AMD (NASDAQ: AMD), acquired Mipsology, a leader in AI software and long-standing AMD partner (more)

• Soundcore Capital Partners, a private equity firm, acquired Asphalt Solutions, Inc., a provider of asphalt and concrete maintenance and repair services for commercial and multi-family homeowner association customers (more)

• Travel Nurse Across America (TNAA), a provider of clinical and allied staffing and workforce management solutions to the healthcare industry, acquired Stogo, a provider of a health system shift and float pool management platform (more)

• CAI Software, a company specializing in integrated software and technology solutions, acquired Alterity, a technology company that focuses on supporting growing, small to midsized distributors, online retailers, and manufacturers via software solutions (more)

• Night, a talent management company, acquired LFM Management, a content creator managing firm (more)

• Careerminds, a provider of outplacement services, acquired Premier Virtual, a provider of a virtual recruitment software-as-a-service (SaaS) platform (more)

• Momentum, a provider of managed cloud services and managed network solutions, acquired Asset Black, a managed network provider (more)

CRYPTO

• Bitcoin trading volume is at its lowest in more than four years (more)

• Solana-based automation startup Clockwork to shut down (more)

• Robinhood revealed to be third-largest Bitcoin holder with $3B in BTC (more)

BULLISH BITES

🌴 Mysterious New California City Backed by Some of the Biggest Names in Silicon Valley…
Jan Sramek, a former Goldman Sachs trader, has been quietly working to build an urban utopia in California. Sramek is the brains behind a company called Flannery Associates, which has spent more than $800 million on land. The company has also attracted some of the biggest investors in tech... (continue)

🎓 Citadel Vets 69,000 Intern Applicants to Find Next Math Geniuses…
In a hotel ballroom overlooking the South China Sea, 24-year-old Taylor sits with 13 other university students in hoodies and sneakers coding away on laptops during their school break.

The two jacked-up security guards sitting outside the hall signal this is no ordinary summer camp: The students flew business class from as far away as California and Singapore to spend several nights at the five-star hotel in Hong Kong. Trays of crab meat salad, mini croque-monsieurs and skewers of prosciutto and melon sat nearby... (continue)

DAILY SHARES

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