BEFORE THE OPEN

MARKETS:

• Flat U.S. futures ahead of Powell's Jackson Hole speech

• Dow futures up 0.1%, S&P 500 and Nasdaq 100 futures gain slightly

• Nvidia's strong results initially boosted markets, caution ahead of Powell led to declines

• Dow, S&P 500, and Nasdaq see mixed day, weekly gains for S&P 500 and Nasdaq

• Jackson Hole Symposium gathers global financial officials, Powell's speech expected

• Last year's Powell speech caused stocks to fall, topic this year is global economy shifts

• Short-lived volatility anticipated from Powell's speech today at 10:05 am ET (watch here)

• Consumer sentiment data for August and no major earnings reports expected

EARNINGS

• Full earnings calendar here

NEWS BRIEFING

Powell’s Pivotal Speech Today Could See a Marked Shift from What He’s Done in the Past

Google, Amazon, Nvidia, Other Tech Giants Invest in AI Startup Hugging Face, Sending Its Valuation to $4.5 Billion

• Trump surrenders in Georgia on 2020 election probe charges (more)

• Nvidia bets $25 bln that AI boom is far from over (more)

  • Nvidia earnings scare away AMD, Intel investors as legacy chipmakers lose ground in AI (more)

• DOJ sues SpaceX, alleging hiring discrimination against refugees and asylum seekers (more)

• Japan is next country to shoot for the moon after Russia and India missions (more)

• Brazil clears bottlenecks to oust US as top corn exporter (more)

• JPMorgan wins ruling that leveraged loans are not securities (more)

• Subway sandwich chain sells itself to Arby's, Dunkin’ owner Roark Capital (more)

• Shein strikes deal with fast-fashion retailer Forever 21 that will expand reach of both brands (more)

• Zillow offers 1% down payment to lure struggling homebuyers (more)

• ETF that followed Jim Cramer's investment advice is liquidating (more)

• Screenwriters say studios’ offer on AI doesn’t go far enough (more)

• CNN news is coming to Warner Bros. Discovery streaming service Max (more)

• Boeing finds new 737 max defect (more)

• More than 300 people charged in Covid fraud sweep targeting $830 million in stolen money (more)

• Google axes bad reviews of tracker exposing Uyghur forced labor (more)

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DEALFLOW

• Roark Capital to buy sandwich chain Subway for up to $9.55B (more)

• Engie to acquire Texas-based power storage firm Broad Reach Power (more)

• Crescent Energy to sell North Dakota assets to Kraken Resources (more)

• Paytm shareholder Antfin to sell 3.6% stake via block deal (more)

• Private equity firm PAI Partners to buy pet food maker Alphia (more)

• Covestro investors press company to enter talks with ADNOC (more)

• Liontrust faces $14M one-off charge after GAM offer failure (more)

• Women’s multiclub football pioneer in talks over first deal (more)

• Rolex to buy Bucherer in major retail move for Swiss brand (more)

• FullCircl, a provider of a customer lifecycle intelligence (CLI) platform, acquired W2 Global Data Solutions, a provider of real-time digital solutions for global regulatory compliance (more)

• Trading Technologies International (TT), a capital markets technology platform provider, acquired Abel Noser Solutions (ANS), a provider of transaction cost analysis (TCA) for investment managers, brokers, asset owners and consultants, from Abel Noser Holdings, a majority-owned portfolio company of Estancia Capital Partners (more)

• NaaS Technology (NASDAQ: NAAS), an electric vehicle (EV) charging service company, is to acquire Charge Amps, a Swedish EV charging solutions provider for approximately SEK 724 million $66.4M (more)

• Oanda, an online trading group, acquired majority interest in Coinpass, an Ashford, UK-based crypto asset firm (more)

• Cascade Biocatalysts, a biomanufacturing company catalyzing green chemistry, raised $2.6M in Pre-Seed funding (more)

• ScribeUp, a subscription management company, raised $3M in Seed funding (more)

• Creatively Focused, an educator-driven technology company, raised $3M in Seed funding (more)

• Aircon, a provider of a gateway-as-a-service in the air cargo industry, raised $3.3M in Seed funding (more)

• Jellatech, a biotechnology company developing a platform to produce complex proteins, raised $3.5M in Seed funding (more)

• Novig, a provider of a commission-free sports betting exchange, raised $6.4M in Seed funding (more)

• Massdriver, a provider of an extensible cloud operations platform, raised $8M in funding (more)

• Electric Era Technologies, a company which specializes in EV fast-charging infrastructure with its proprietary PowerNode™, raised $11.5M in Series A funding (more)

• Delphinus Medical Technologies, a provider of dense breast medical imaging, raised $12M in Growth funding (more)

• Bushel, a provider of a digital platform connecting farmers and agribusinesses, raised $26M in funding (more)

• Nursa, a provider of a care management platform, raised $80M in Series B funding (more)

• SpyCloud, a company specializing in operationalizing identity analytics to automate the protection of digital identities, raised $110M in Growth funding (more)

• Rapport Therapeutics, a clinical-stage biotechnology company leveraging the science of receptor-associated proteins (RAPs) for neuromedicines, raised $150M in Series B funding (more)

• Ramp, a provider of a finance automation platform, raised $300M in funding (more)

• Axiom Space, a provider of human spaceflight services and developer of human-rated space infrastructure, raised $350M in Series C funding (more)

• Now Insurance, an AI-enabled commercial insurance platform specializing in medical professional liability coverage, received an undisclosed amount in funding from Arch Capital Group (more)

• Arcion, a company that provides enterprise databases using change data capture (CDC), received an undisclosed amount in funding from Hewlett Packard Pathfinder (more)

CRYPTO

• SEC crackdown spurs Bitstamp to stop US crypto staking service (more)

• Bitcoin rival Ether’s perilous chart outlook adds to crypto gloom (more)

• CoinCorner and Lolly partner to introduce Bitcoin payments alongside traditional methods (more)

• Binance.US looks to crypto startup MoonPay as alternative after US banks cut ties (more)

BULLISH BITES

🍷 NYC’s Most Exciting New Fine Dining Restaurant Is in a Subway Station
If you’re standing on the corner of 32nd Street and Broadway, there are several directions you can go to quickly find something good to eat. But soon, diners will be able to follow an unexpected path to one of the city’s best new big-deal meals: They can walk down the subway stairs and into Nōksu, the new fine dining Korean-influenced spot… (continue)

🎧 Weekend Inspo: Asking My Friend How He Went From $0 To +$100M Before Age 30
Syed Balkh moved from Pakistan with no money, to building a 9-figure WordPress empire before he turned 30. Learn why he turned down a $70M offer, why he bought a gas station as a baby shower gift, the difference between recurring revenue vs. re-occurring revenue, and much more… (listen here)

DAILY SHARES

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