BEFORE THE OPEN

MARKETS:

• Nasdaq 100 futures down 0.7% after regular session selloff.

• Meta beats Q3 earnings but reports $3.7 billion loss in Reality Labs division, shares down 3%.

• Align Technology drops 25% due to weak Q4 revenue guidance and Q3 earnings miss.

• Alphabet suffers 9.5% decline, its worst day since March 2020.

• S&P 500 falls 1.4%, closing below 4,200, Nasdaq down 2.4%, Dow down 0.3% in regular session.

• Today's focus on Q3 GDP estimate, expected at 4.7%, and weekly jobless claims data.

• Upcoming major earnings reports from Amazon, Ford, and Chipotle after the close.

EARNINGS

Here’s what we’re watching this week:

• Today: Amazon.com (AMZN)

• Full earnings calendar here

NEWS BRIEFING

Private Equity Wants a Piece of Your Retirement Savings

Huawei Smartphone Chip That Alarmed US Was Made by ASML Machine

• Israel War Latest:

  • Israel bombards Gaza, prepares invasion as Putin warns conflict could spread beyond Middle East (more)

  • Russia, China veto US push for UN action on Israel, Gaza (more)

• Mike Johnson elected House speaker, putting Louisiana Republican in the spotlight (more)

• Sam Bankman-Fried set to testify at his fraud trial (more)

• Deficit doubling as US economy grows shows why yields are at 5% (more)

  • What can the Fed do about the deficit? Nothing (more)

• Surging yields flip from burden to boon in Big Tech earnings (more)

• Adjustable-rate mortgage demand hits highest level in a year as interest rates continue to climb (more)

• U.S. luxury market Is set for an active fall (more)

• America's No. 1 emerging real-estate market is in Kansas. 'Life is easy over here.' (more)

• Ford agrees to 25% wage hike in tentative deal to end UAW strike (more)

• Only 19% of Americans boosted emergency savings in 2023. It ‘puts households in a bind,’ expert says (more)

• US Fed set to revise debit card fee caps pitting banks against retailers (more)

• Honda, GM scrap $5 bln plan to co-develop cheaper EVs (more)

• Barclays to lay off dozens of US consumer bank employees (more)

• Ted Pick gets standing ovation as Morgan Stanley CEO as rivals stay on (more)

• Social media platform X rolls out audio, video calling (more)

• Amazon brings conversational AI to kids with launch of ‘Explore with Alexa’ (more)

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DEALFLOW

• Stellantis nears deal to buy 20% of Chinese EV maker Leapmotor (more)

• KKR invests in Precipart (more)

• Revelation Partners, a firm providing flexible capital solutions to the healthcare ecosystem, closed its Fund IV at $608M (more)

• Aiolos Bio, a clinical-stage biopharmaceutical company, raised $245M in Series A funding (more)

• Zenoti, a provider of an enterprise cloud platform for the beauty and wellness industry, raised $50M in Series C funding (more)

• Opal Camera Inc., a provider of a professional webcam with DSLR quality, completed its Series A funding round, totalling $17M (more)

• LegalMation, Inc., a market leader in Generative AI-driven solutions for high-volume litigation, raised $15M in Series A financing (more)

• Sage, a company providing a care coordination platform, raised $15M in funding (more)

• Eve, a customizable AI assistant for the legal profession, raised $14M in seed funding (more)

• FounderSix, a beauty brand incubator, raised $12M in funding (more)

• Flashpoint Therapeutics, a company developing nanotechnology-enabled therapeutics for cancer and other diseases, raised $10M in Seed funding (more)

• Rymedi, a healthcare data exchange platform with advanced blockchain security, raised $9M in Series A funding (more)

• Ignition, an AI-driven collaboration software for go-to-market teams, raised $8M in Seed funding (more)

• Canopy Connect, a provider of a platform for collecting, verifying, and monitoring insurance information, raised $6.5M in Series A funding (more)

• RadiantGraph, a provider of a platform using machine learning and artificial intelligence to drive consumer engagement for health plans, raised $5M in Seed funding (more)

• CoverForce, an independent insurance platform bringing streamlined comparisons and one-click buying to commercial insurance, raised $5M in seed funding (more)

• Castellum.AI, a global risk data platform provider, raised $4M in seed funding (more)

• Gozen, a biomaterials startup, raised $3.3M in Seed funding (more)

• Harmony Games, a game development studio, raised $3M in Seed funding (more)

• Koop Technologies, an insurance technology company focused on the robotics ecosystem, received an investment from Hyundai and Kia (more)

• HealthEC, a healthcare technology company, raised additional funding of an undisclosed amount (more)

• Upstream Tech, a corporation that builds software for making planetary decisions, received an investment from Hull Street Energy (more)

• Sidework, a beverage technology company formerly known as Backbar, raised an undisclosed amount in funding (more)

M & A:

• Vector Solutions, a provider of training and software solutions for schools, acquired PATHWAYos, a platform for connecting K-12 schools and students to work-based learning opportunities (more)

• TSCP’s Isto Biologics merges with Biologica Technologies (more)

• DataCore, a software-defined storage company, acquired Workflow Intelligence Nexus, a workflow services and software firm (more)

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CRYPTO

• Crypto delistings from exchanges are already running at a record pace this year (more)

• Crypto market sentiment at highest point since BTC’s $69K all-time high (more)

BULLISH BITES

⛽️ Why Exxon and Chevron are doubling down on fossil fuel energy with big acquisitions.

🍿 Confessions of a venture capital-backed startup founder.

🍌 CEO morning routines are bananas. So I tried a few.

👭 The Pew Research Center surveyed Americans to find out how many friends they have.

💡. Get key insights from bestselling non-fiction books, distilled by experts into bitesize text and audio.

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