BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 45.45% for Week of October 03 2024

Market Wrap:

• Stocks dropped Monday as oil prices and Treasury yields rose

• Dow fell 398 points (-0.94%), S&P -0.96%, Nasdaq -1.18%

• 10-yr Treasury yield hits above 4%, first time since August

• US crude jumped 3%, settling above $77/barrel

• Energy stocks (+0.4%) only sector to close up

• Utilities and consumer discretionary sectors down ~2%

• Caution ahead of earnings season with rising yields and energy prices

EARNINGS

Earnings we’re watching this week:

• Today: 

  • PepsiCo (PEP) - earnings of $2.29 per share (+1.8% YoY), on $23.8B revenue (+1.7% YoY)

• Thursday: 

  • Delta Air Lines (DAL) - earnings of $1.55 per share (-23.6% YoY) on $14.77B revenue (+1.5% YoY)

• Friday: BlackRock (BLK), Wells Fargo (WFC)

  • JPMorgan Chase (JPM) - earnings of $4.01 per share (-7.4% YoY) on $41.7B revenue (+5.1% YoY)

See full earnings calendar here.

HEADLINES

China Stocks Reopen with a Roar After Week-Long Break

Google About to Learn How DOJ Wants to Remake Its Empire

• Wall Street indexes slip with interest rates, Middle East in focus (more)

• US bond selloff deepens as wagers on half-point rate cut crumble (more)

• 10-yr Treasury yields shifts lower after crossing 4% in previous session (more)

• Goldman lowers recession odds to just 15% (more)

• Dollar consolidates after strongest week in two years (more)

• Brent oil extends slide below $80 as China stimulus bets fade (more)

• Costco’s gold bars fly off shelves as bullion prices smash records (more)

• Super Micro soars after sharing it’s shipping 100K GPUs per quarter (more)

• Foxconn building world's largest Nvidia superchip factory (more)

• Stellantis files new lawsuits against United Auto Workers union (more)

• Fintech OpenBB aims to be more than an ‘open source Bloomberg Terminal’ (more)

• Apollo Funds to take Barnes Group private in $3.6 billion deal (more)

TOGETHER WITH 1440

DEALFLOW

M+A | Investments

• Chevron to sell assets for $6.5B to Canadian Natural Resources (more)

• Sheffield United Football Club in takeover talks with US investor group (more)

• Saudi Arabia's PIF eyeing stake in sports streamer DAZN (more)

• Butterfly Equity buys winemaker Duckhorn in $1.95B deal (more)

• Adani Group in talks to buy Heidelberg's Indian cement operations (more)

• Richemont offloads online retailer Yoox Net-A-Porter to Mytheresa (more)

• Nissan to invest in auto tech firm ChargeScape (more)

• Chartbeat, a media software platform provider, received a strategic investment from Bain Capital's Private Credit Group (more)

• BrightNight, a producer of clean and dispatchable power solutions, closed a $440M strategic equity investment from Goldman Sachs Alternatives (more)

• Ascend Partners, enterprise performance management solutions, received an investment from Achieve Partners (more)

• Globant, a digitally native company providing businesses with technology solutions, acquired Exusia, an IT services consulting firm (more)

• Synerion USA Inc., cloud-based workforce management software, acquired Qumulex, cloud-based video surveillance and access control solutions (more)

• Compax Holding, a global leader in Digital Business Support Systems, acquired NTS Retail, retail and in-store commerce software solutions (more)

• QAD Inc., next-gen manufacturing and supply chain solutions in the cloud, acquires Phenix Software Inc., a production scheduling platform (more)

• Veralto Corporation (VLTO), essential water and product quality solutions, acquired TraceGains, a provider of cloud-based software solutions (more)

• Solvd, an end-to-end software engineering company, acquired EastBanc Technologies, an IT consultancy serving enterprise/government clients (more)

VC

• Judo Bio, a biotech company developing oligonucleotide medicines, raised $100M in Seed and Series A financing (more)

• Resolve AI, an AI production engineering startup, raised $35M in seed funding (more)

• Eleanor Health, an outpatient addiction treatment provider, raised $30M in Series D funding (more)

• Layer, a company allowing developers to build new layers on top of Ethereum, raised $6M in funding (more)

• Monolith Materials, a company specializing in clean hydrogen and carbon black, received an undisclosed amount in additional funding (more)

• New Frontier Aerospace, a developer of advanced aerospace technologies, raised an undisclosed amount in Seed funding (more)

CRYPTO

• FTX cash repayment plan approved by bankruptcy judge (more)

• MicroStrategy surges to 6-month high as Bitcoin wrestles with key moving average (more)

• Len Sassaman gets the memecoin treatment ahead of HBO Bitcoin creator documentary (more)

BULLISH BITES

⚠️ New Briefing: The gold market’s DIRE warning *

🗽 Next Gen: New York’s top VCs under 30.

🙀 X-treme? Elon Musk uses @america X handle to boost Trump.

📈 Pursuits: Billionaire “bored silly” of retirement chases a third IPO.

🤖 Next Level: A WSJ writer is obsessed with a new Google AI app that can make a podcast out of just about anything.

DAILY SHARE

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