BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 49.62% for Week of September 26 2024

Market Wrap:

• S&P closed at a record, up 0.42% to 5,762.48.

• Dow +0.04%, Nasdaq +0.38%; all hit record highs.

• Fed Chair Powell hinted at more rate cuts, no set path.

• Investors optimistic, but October brings volatility risk.

• Key labor data to provide more economic insight this week.

EARNINGS

Here’s what we’re watching this week:

• Today: McCormick (MKC)

  • Lamb Weston (LW) - earnings of $.71 per share (-56.4% YoY) on $1.6 billion revenue

  • Nike (NKE) - earnings of $.52 per share (-44.7% YoY) on $11.7 billion revenue (-9.3% YoY)

• Wednesday: Levi Strauss (LEVI)

• Thursday: Constellation Brands (STZ), Tilray (TLRY)

See full earnings calendar here.

HEADLINES

Stocks Rally Shakes Off ‘Tiny Bit Hawkish’ Powell

Port Workers Strike on East and Gulf Coasts

• Record run steers gold to best quarter in four years (more)

• Dollar’s losing streak keeps traders wary as Fed cuts rates (more)

• Oil steadies as mideast tensions vie with Libyan supply outlook (more)

• Second oil company CEO conspired with OPEC to keep prices high (more)

• FTC clears Chevron-Hess deal, bans John Hess from board (more)

• Global investors call time on their exodus from China (more)

• Boeing strike enters third week (more)

• Nvidia stock slips on China trade fears (more)

• Nvidia rival Cerebras Systems files for IPO (more)

• SoftBank to invest $500M in OpenAI (more)

• Ford to give free EV home charging stations to EV buyers (more)

• Nuclear power's AI renaissance (more)

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DEALFLOW

M+A | Investments

• DirecTV to acquire Dish in merger of satellite TV rivals (more)

• Marsh McLennan to acquire McGriff Insurance in $7.8B deal (more)

• Mizuho acquires minority stake in private credit investor Golub (more)

• PepsiCo in talks to buy Siete Foods for over $1 billion (more)

• Pfizer to sell about $3.25B stake in Sensodyne-maker Haleon (more)

• Equativ, an ad tech company, announced the strategic acquisition of Kamino Retail, an on-site retail media platform designed for retailers (more)

• Davenforth, a managed IT, voice, and networking platform, acquired TeleCloud, a cloud communication and connectivity provider, and Third Generation, cloud communication services (more)

• Valerio Therapeutics, a clinical-stage biotech company, acquired Emglev Therapeutics, an antibody-based therapeutics company (more)

• Creative Planning, an independent wealth management firm, received an investment from TPG Capital (more)

• C2N Diagnostic, a company developing Alzheimer’s disease-specific fluid biomarker tests, received a $15M investment from GHR Foundation (more)

VC

• Aktis Oncology, a clinical-stage biotech company, closed a $175M Series B financing (more)

• HungryPanda, an overseas Asian food delivery platform, closed a $55M refinancing and fundraise (more)

• HPC-AI Tech, an AI startup specializing in AI Software Infrastructure and Video Generation, raised $50M in Series A funding (more)

• Apono, a leader in privileged access for the cloud, raised $15.5M in Series A funding (more)

• Neeve, a cloud platform-as-a-service for smart buildings and spaces, raised $15M in funding (more)

• Wispr, a company building a natural way to interact with technology, raised $12M in funding (more)

• Lucky Energy, an energy drink company, raised $11.75M in Series A funding (more)

• Loti AI, a company specializing in likeness protection technology, received an add'l undisclosed amount in Seed funding from Khosla Ventures (more)

• Ensemble, an enterprise machine learning startup, raised $3.3M in seed funding (more)

CRYPTO

• Bitcoin drops back below $65,000 to finish September on a down note (more)

• Trump’s crypto venture begins sign-ups while business purpose remains unclear (more)

• MicroStrategy's next Bitcoin purchase is likely to take its holdings above Grayscale's GBTC (more)

BULLISH BITES

🚨 Exclusive: The last retirement stock you’ll ever need? *

💼 Next Level: The rise of the "intern CEO."

✋ Back Off: The VC buying up prized real estate in SF says not to ‘listen to agitators’.

🧬 Going, Going… Remember that DNA you gave 23andMe?

🍸 Shaken, Not Stirred: The world’s first official James Bond bar just opened in London—here’s a look inside.

DAILY SHARE

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