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⚠️ Rare signal predicts 50% market drop - before election. Follow these 4 steps to prepare »
A message from Behind The Markets

BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↑42.54% for Wk of August 15 2024

Market Wrap:

• Futures flat after S&P and Nasdaq’s longest 2024 win streaks.

• Palo Alto Networks rises 2% post strong Q4 results.

• S&P up 1%, Nasdaq 1.4%, both on 8-day win streaks.

• Volatility drops; VIX at 14.7, down from 65 on Aug. 5.

• Focus on Fed’s Jackson Hole; Powell speaks Friday.

• Market eyes 25 bps rate cut in September.

EARNINGS

Here’s what we’re watching this week:

• Today: Coty (COTY)

  • Lowe's (LOW) - earnings of $3.97 per share (-12.9% YoY) on revenue of $23.9B revenue (-4.4% YoY)

• Wednesday: Macy's (M), Snowflake (SNOW), Zoom (ZM)

  • Target (TGT) - earnings of $2.19 per share (+21.7% YoY) on $25.2B revenue (+3.3% YoY)

• Thursday: Peloton (PTON)

  • Intuit (INTU) - earnings of $1.84 per share (+11.5% YoY) on $3.1B revenue (+13.7% YoY)

Full earnings calendar here.

HEADLINES

SEC Fines Carl Icahn, Triggering Multimillion-Dollar Stock Wipeout

AMD is Going After Nvidia with a $5 Billion Acquisition

• Trump says he would offer Elon Musk a cabinet slot (more)

• Harris proposes raising corporate tax rate to 28%, rolling back a Trump law (more)

• Americans growing worried about losing their jobs (more)

• Gold bars are worth a million dollars for the first time (more)

• Oil falls nearly 3% as US pushes for Gaza cease-fire, China demand weighs (more)

• Asian stocks climb on bullish Wall Street cues (more)

• China leaves key lending benchmarks unchanged, as expected (more)

• AMD is going after Nvidia with a $5 billion acquisition (more)

• Boeing halts 777X flight tests over damaged engine mount (more)

• US adds most power generation in 21 years as AI demand surges (more)

  • AI demand is driving data center water consumption sky high (more)

• Goldman sets expectations on Nvidia stock ahead of earnings (more)

• GM lays off more than 1,000 salaried and services employees (more)

DEALFLOW

M+A | Investments

• Circle K deal machine kicks into high gear with 7-Eleven bid (more)

• AMD to buy ZT Systems in $4.9B challenge to Nvidia (more)

• Quantum Capital to acquire Caerus Oil and Gas assets for $1.8B (more)

• ETF dealmaking continues with Bitwise acquisition of ETC Group (more)

• Eli Lilly (LLY), a medicine company, acquired Morphic Holding, Inc. (MORF), a biopharma company developing oral integrin therapies (more)

• Koch Equity Development, acquires iconectiv, LLC, a telecom solutions company, from Ericsson (ERIC) (more)

• Lumivero, a company specializing in data-intelligence software, acquired Risk Decisions, a developer of the Predict! suite of software (more)

• Danaher Corp (DHR), a life sciences and diagnostics innovator, acquired Genedata AG, software for biopharmaceutical R&D (more)

• Communify, led by former founders of InvestCloud, in partnership with Stellex Capital Mgmt, will be combined with Fincentric, a provider financial data distribution, carved out from S&P Global (more)

• WorkHub, a vertically-integrated real estate development company, received an investment from Davidson Kempner (more)

• Snack King, a snack food manufacturer, received an investment from Falfurrias Management (more)

• M3, a provider of hospitality accounting software, received a majority investment from Blackstone (more)

• Service Express, a provider of data center solutions, received a growth investment from Warburg Pincus (more)

• Earli, a biotech company that developed a novel approach to early cancer detection, received an investment from Accenture Ventures (more)

• Sunburn Cannabis, a vertically integrated cannabis operator, received a new investment from Poseidon (more)

VC

• Re:Build Manufacturing, a company that manufactures technologically advanced products from concept through production at scale, raised $120M in funding (more)

• Power to Hydrogen Inc., a company specializing in advanced electrolysis technologies, raised over $18M in Series A funding (more)

• ModelOp, a provider of AI Governance software for enterprises, raised $10M in Series B funding (more)

• Photon Health, an electronic prescription startup, raised $9M in funding (more)

• Mudstack, a provider of file versioning and asset management tools for the game industry, raised $4M in funding (more)

• De Novo Foodlabs, a food technology company, raised $4M in total funding (more)

• TEAMology, a company which specializes in K-8 social-emotional support solutions, raised $1.2M in seed funding (more)

• Cyberbit, a provider of cybersecurity skill development platforms, raised an undisclosed amount in funding (more)

CRYPTO

• XRP outperforms as digital assets start week in the red (more)

• Harris leads Trump on polymarket as DNC begins (more)

• Sliding Bitcoin struggling to harness rebound in global risk appetite (more)

BULLISH BITES

📉 Investor Alert: Is J.P. Morgan preparing for market meltdown?

💸 Passing Torch: Biden’s late late-night farewell.

🏚 Pursuits: Former a16z VC Balaji obtains a private island for his new longevity 'technocapitalist' school.

🪐 Real or Fake? The AI photo editing era is here, and it’s every person for themselves.

🔥 NYC Weekend: The best new hotels in Manhattan, from $300 to $900 a night.

DAILY SHARE

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