BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
51.73% for Wk of Mar 07 2024 (Last week: 46.50%)

Market Recap:

• S&P 500 futures near flatline as traders await February jobs report.

• Dow futures slip 0.08%; Nasdaq 100 futures down 0.3%.

• Broadcom dips 3%, Costco falls 4% after-hours.

• Tech drives S&P 500, Nasdaq to new highs Thursday.

• Investors await Friday's nonfarm payrolls data for labor market insight.

• S&P 500 up 0.4% this week; Dow down 0.8%; Nasdaq slightly lower.

EARNINGS

Full earnings calendar here

HEADLINES

A Defiant Biden’s State of the Union

Powell to Senate: "Not far" from Confidence Needed to Cut Rates

• Report today expected to show a slowing but still healthy labor market (more)

• US layoffs reach highest since last March (more)

• Furious Congress plows forward with TikTok bill after user revolt (more)

• Keystone oil pipeline segment shuts, sending futures higher (more)

• Weak recovery could trigger China rating cut, S&P Global says (more)

• S&P Index flub prompted mystery swings in Morgan Stanley, PNC (more)

• Mnuchin scores an instant profit rescuing NYCB (more)

• Rivian surprises with R3 and R3X electric SUVs (more)

• Broadcom sees $10B in AI chip sales in 2024, but shares dip (more)

• MindMed’s stock soars 58% after FDA grants breakthrough designation to LSD therapy (more)

• Novo weight loss pill more potent than Ozempic (more)

• Salesforce announces new AI tools for doctors (more)

• High-yield savings accounts slam Americans with larger tax bills (more)

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DEALFLOW

M+A | Investments

• British packaging firm Mondi offers to buy smaller rival DS Smith for $6.57B (more)

• SingTel sells 0.8% stake in India's Bharti Airtel to GQG Partners for $711M (more)

• Carlyle launches sale of Japanese cosmetics supplier Tokiwa in $800M deal, sources say (more)

• Ardian agrees to acquire CampusParc for more than $850M (more)

• TruArc Partners acquires Meyer Laboratory (more)

• VSS-backed Centroid Systems purchases Intelletive (more)

• MiddleGround buys IT8 (more)

• Goldman-backed GridStor purchases Galveston County battery energy storage project (more)

• Yingling Aviation buys Mid-Continent Aviation Services (more)

• Court Square invests in Velosio (more)

• Equistone-backed BUKO buys RTS (more)

VC

• Alumis, a clinical-stage biopharmaceutical company, raised an upsized $259M Series C funding (more)

• Sionna Therapeutics, a clinical-stage life sciences company, raised $182M in Series C funding (more)

• Rakuten Medical, a biotech company developing and commercializing precision, cell targeting therapies based on its proprietary Alluminox™ platform, raised $119M in Series E funding (more)

• FitLab, an asset management firm specializing in investing and partnering with SMB’s, raised $65M in funding from Atlas Credit Partners (more)

• Todyl, a security and networking company, raised $50M in Series B funding (more)

• Defense Unicorns, a startup providing open source software and AI for National Security systems, raised $35M in Series A funding (more)

• Maybell Quantum, a quantum infrastructure company, raised $25M in Series A funding (more)

• Efficient Computer, a computer architecture and software stack company, raised $16M in Seed funding (more)

• BrainCheck, a digital health provider, raised $15M in funding (more)

• C₂N Diagnostics, a brain health diagnostics company, received up to $15M in investment from Eisai (more)

• Hari Mari, a sandal brand, raised $10M in Equity funding (more)

• TollBit, a company offering AI bots and data scrapers a compliant way to compensate websites for content, raised $7M in funding (more)

• Altro, a provider of a credit-building app, raised $4M in funding (more)

• Glimpse, a provider of battery quality monitoring for producers and electric mobility companies, raised $4M in Seed funding (more)

• Cogna, a provider of an AI-driven SaaS platform to create customised software applications, raised £3.76M in funding (more)

• Firewall, a blockchain infrastructure startup, announced its $3.7M pre-seed round, co-led by North Island Ventures, Breyer Capital, and Hack VC (more)

• Enzzo, a company focused on accelerating new hardware product development, raised $3M in Seed funding (more)

• Good Trouble, a games studio, raised $1.8M in funding (more)

• Handle.com, a provider of construction payment and credit solutions, received investments from Amex Ventures, along with Suffolk Technologies (more)

• Moxy.io, a provider of a blockchain empowered tournament platform and infrastructure in the competitive gaming and web3 space, received an investment from GDA Capital (more)

• Capstack Technologies, a bank-to-bank marketplace designed to mitigate asset risk, received an investment from Citi Venture (more)

• Hook, a music platform, extended its Seed funding with an additional undisclosed amount (more)

CRYPTO

• Solana DeFi protocol Kamino sets KMNO token airdrop for April (more)

• US to contest Do Kwon extradition to South Korea in crypto case (more)

• Spike in Bitcoin volatility heralds an early test of US ETF demand (more)

BULLISH BITES

🤨 Not over: How Klarna’s IPO prep got tangled up in a boardroom drama.

💐 Sweet smell of… Eau de Binance?

🛌 Next level: Sleep tourism.

🍾 Full bodied: 7 stellar white wines to drink as winter turns to spring.

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