BEFORE THE OPEN

MARKETS:

• Dow rises, extending four-week winning streak.

• Dow up 0.33%, S&P 500 edges up 0.06%, Nasdaq falls 0.11%.

• Retail shares like Walmart and Target see slight gains on Black Friday; Amazon also rises.

• Weekly gains: Dow 1.27%, S&P 500 1%, Nasdaq Composite 0.89%.

• Longest positive run for S&P 500 and Nasdaq since June; Dow's longest since April.

• Lower Treasury yields signal hope for cooling inflation and potential end to Fed rate hikes.

• 10-year Treasury yield falls to levels last seen in September.

EARNINGS

Here’s what we’re watching this week:

• Wednesday: Snowflake (SNOW)

  • Dollar Tree (DLTR) - expected: $1.01 per share (down -15.8% YOY) on $7.4 billion revenue (+6.7% YoY)

  • Salesforce (CRM) - expected: $2.06 per share (+47.1% YoY) on $8.7 billion revenue (+11.5% YoY)

• Thursday:

  • Ulta Beauty (ULTA) - expected: $4.96 per share (-7.7% YoY) on $2.5 billion revenue (+6.0% YoY)
    

• Full earnings calendar here

NEWS BRIEFING

Black Friday Shoppers Spent a Record $9.8 Billion in US Online Sales, up 7.5% from Last Year

Elon Musk Warns ‘Something Scared’ OpenAI Chief Scientist Ilya Sutskever as CEO Sam Altman’s Return Fails to Answer Key Questions

• U.S. stocks cap off best four-week stretch in a year with more gains during holiday-shortened session (more)

• Global stocks are headed for their best month in more than 3 years as investors hope for Fed rate cuts (more)

• Biden doles out billions in subsidies for electric vehicles, but sales stall (more)

• Elon Musk to meet Israeli president as antisemitism furor brews (more)

• Poll: Americans think the American dream is dying (more)

• Modi’s nation-building push sparks $125 Billion rally in industrial stocks (more)

• Markets cheer as Milei drops dollarization for Macri brass (more)

• China's Zeekr reveals revenue surge in updated financials ahead of US IPO (more)

• Credit markets signal optimism with US spreads reaching year-lows (more)

• Private credit goldrush to squeeze fund managers (more)

• ‘AI blowback’ angst grips ESG fund managers who bet big on tech (more)

• Neuralink, Elon Musk’s brain implant startup, quietly raises an additional $43M (more)

• At Meta, millions of underage users were an 'open secret,' states say (more)

• The winners and losers in Sam Altman’s OpenAI kingdom -so far (more)

• The looming office space real estate shortage (more)

• NFL’s Black Friday game is the latest warning sign for traditional TV (more)

TOGETHER WITH WISERADVISOR

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DEALFLOW

• 53 Stations, a venture capital firm that invests in early-stage companies across a range of industries, announced its first fund of $190M (more)

• Vivodyne, a biotech company, raised $38M in Seed funding (more)

• Quotient Therapeutics, a company advancing somatic genomics, raised $50M in initial funding (more)

• Linxup, a GPS tracking, telematics and fleet management provider, raised $50M in Growth funding (more)

• Craftwork, a home repairs startup, raised $6M in seed funding (more)

• Nicol Bryl Skincare, a cosmetics company, received an investment from DRA Family Office (more)

• Laudio, an innovator in frontline leader solutions that drive efficiency and engagement for health systems, received a strategic investment from Memorial Hermann Health System (more)

M & A:

• Blackstone acquires Civica (more)

• Curi Capital merges with RMB Capital (more)

• OpenGate Capital purchases P1AG (more)

• NAKS acquires Stainless Specialties (more)

• Enartis acquires Winegrid (more)

• IP Pathways, a technology solutions provider, acquired Tenax Solutions, a security solutions provider (more)

• Merck (NYSE: MRK) acquired Caraway Technologies, a preclinical biopharmaceutical company, for a total potential consideration of up to $610M (more)

• One Equity Partners, acquired TechnipFMC’s Measurement Solutions, a provider of liquid meters, integrated load management metering systems and related digital solutions involved in materials transfer through infrastructure, from TechnipFMC (more)

• Broadcom (NASDAQ: AVGO), a global technology company that designs, develops, and supplies semiconductor and infrastructure software solutions, acquired VMware, a provider of multi-cloud services for apps (more)

• Kiteworks, a company that delivers data privacy and compliance for sensitive content communications through customer-enabled PCN, entered into an agreement to merge with Dracoon, Maytech, and ownCloud

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CRYPTO

• Ex-Binance CEO urges judge to let him leave U.S. before sentencing (more)

• Ark Investments sets 0.80% fee for proposed spot bitcoin ETF (more)

• Crypto exchange HTX reinstates Bitcoin deposits, withdrawals (more)

• Crypto documentary 'Bull Run' takes on Bitcoin, tokenization and trading addiction (more)

BULLISH BITES

⚽️ Going, going… Lionel Messi's 2022 World Cup Shirts could top $10 million at Sotheby's auction.

🎵 No can do: Hall is suing Oates over plan to sell stake in joint venture.

🎓 Admission: How a billionaire banker is helping elite US colleges recruit new talent aimed at underserved areas.

😰 Hard to handle: If I’m being honest, I didn’t have what it takes to be a founder.

🤝 Match-maker: Answer a few questions and get matched with 2-3 vetted financial advisors to compare based on your needs, for free - compare now

DAILY SHARES

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