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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
40.82% for Wk of May 09 2024 (Last week: 38.49%)

Market Recap:

• Stock futures flat after record highs on lighter inflation.

• Dow futures +32 points (+0.08%), S&P futures +0.06%, Nasdaq 100 futures +0.1%.

• Major averages hit records: Dow +0.88%, S&P +1.17% (above 5,300), Nasdaq +1.40%.

• April CPI +0.3% monthly (vs. 0.4% expected), +3.4% annually.

• Today: weekly jobless claims, Philly Fed manufacturing index.

• Earnings: Walmart, Under Armour, Baidu before the bell.

EARNINGS

What we’re watching:

• Today: Baidu (BIDU), Deere (DE)

  • Walmart (WMT) - earnings of $.53 on $159.4B (+4.7% YoY)

Full earnings calendar here

HEADLINES

S&P Tops 5,300 in Record-Breaking Stock Rally

Consumer Inflation Resumes Downward Trend Fueling Rate-Cut Bets

• Here’s the inflation breakdown for April 2024 (more)

• Biden and Trump agree to debates on June 27 and Sept. 10 (more)

• Xi welcomes Putin, says China-Russia ties should last ‘generations’

  (more)

• Oil rebounds, gains 1% after US crude draw (more)

• Boeing has four weeks to stop possible prosecution over crashes (more)

• Uber announces shuttle rides, features for caregivers and Costco perks (more)

• GameStop, AMC tumble as meme stock rally fizzles after two days (more)

• Netflix hits 40 million users for ad-supported plan (more)

• Paramount holds talks with Amazon about expanded partnership (more)

• Peloton taps JPMorgan for $850M loan sale to tackle debt (more)

• Buffett’s Berkshire reveals $6.7B stake in insurer Chubb (more)

• Soros Fund dissolves stake in NYCB, buys Goldman Sachs shares (more)

• Real estate mogul Frank McCourt readying US TikTok bid (more)

• Visa adds new way to share customer data with retailers (more)

DEALFLOW

M+A | Investments

• Morgan Stanley to buy property debt from Blackstone Venture (more)

• KKR readies EU remedies for €22B Telecom Italia deal (more)

• Royal Mail owner IDS agrees to $4.4B Kretinsky takeover bid (more)

• Siemens to sell drive division to KPS for $3B (more)

• Blackstone, GIC and others sell $2B stake in LSEG (more)

• Red Lobster creditors to weigh bid for assets in Chapter 11 (more)

• HG Automation, an automation company, acquired Treva Automation, a provider of automated solutions (more)

• EasyKnock, a home equity solutions platform, acquired assets of home equity investment firm HomePace (more)

• ListEngage, a Salesforce Ventures-backed certified partner, acquires 1to1, a Salesforce personalization consulting agency (more)

• Synechron, digital consulting firm for financial services and tech orgs, acquired iGreenData, a data-centric digital solutions company (more)

• Mill Point buys majority stake in iQor (more)

• Huron-backed Hansons buys Paramount Builders (more)

• Avathon purchases Summit Professional Education (more)

• LGP-backed Iris acquires Swipeclock (more)

• The Watermill Group invests in Musser (more)

• Metaplane, a data observability platform, received an investment from Snowflake Ventures (more)

VC

• Restaurant365, a provider of a restaurant enterprise management platform, raised $175M in funding (more)

• Weka, a data platform company, raised $140M in Series E funding, at a $1.6M valuation (more)

• Alkira, an on-demand network infrastructure as-a-service company, raised $100M in Series C funding (more)

• Cover Genius, an insurtech company for embedded protection, raised $80M in Series E funding (more)

• Polymarket, a prediction market, raised $70M in funding (more)

• cylib, a sustainable end-to-end battery recycling firm, raised €55M in Series A funding (more)

• Chapter, a medicare navigation platform, raised $50M in Series C funding (more)

• Elegen, a DNA synthesis and production company, raised $35M in Series B funding (more)

• Nabla Bio, a company developing AI and wet-lab technologies, raised $26M in Series A funding (more)

• Elevate K-12, a company prividing synchronous LIVE teaching for K-12 classrooms in the US, raised $25M in Growth financing (more)

• Annuity.com, a fintech and financial media company, raised $15.7M in Seed funding (more)

• Orange Charger, a provider of EV charging solutions, launched $6.5M in seed funding (more)

• Relocalize, a cleantech startup, raised $5.8M in Seed funding (more)

• Firmus, a company specializing in preconstruction AI design review and risk analysis, raised an undisclosed amount in funding (more)

CRYPTO

• Bitcoin hits $66K as soft inflation data sparks crypto rally (more)

• US House's McHenry says Senate may be swayed if many Democrats back crypto bill (more)

• MIT brothers arrested over rapid-fire $25M crypto heist (more)

BULLISH BITES

🗽 AI HQ: The Big Apple is making a bid to become a premier hub for generative AI.

📈 "AI Healthcare Genesis" sets the stage for a new era in medicine. Here's the Micro-Cap behind it >>> *

💪 New flex: Baby Boomers are loving the ‘freedom’ of renter life.

🌮 Taco ‘bout it: This is the first Mexican taco stand to get a Michelin star.

🏘 Vision wanted: Historic California town for sale for a stunning $6.6M.

DAILY SHARE

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