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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↑44.88% for Wk of August 01 2024

Market Wrap:

• Stock futures fell: S&P -0.3%, Dow -0.2%, Nasdaq -0.5%.

• Regular session: Dow -1.2%, S&P -1.4%, Nasdaq -2.3%.

• Market worried Fed is too late on policy.

• Small-cap rally at risk, Russell 2000 -3%.

• Today: July payrolls unemployment rate.

EARNINGS

Here’s what we’re watching:

• Today: Chevron (CVX), Cinemark (CNK), Exxon Mobile (XOM)

Full earnings calendar here.

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HEADLINES

Stocks Sell Off a Day After Furious Rally as Volatility Returns

Apple Sluggishness in China Casts Shadow on Upbeat Results

• Dow closes nearly 500 points lower as investors’ recession fears awaken (more)

• Initial jobless claims rise to one-year high as hiring slows (more)

• Productivity surges 2.3%, beating forecasts (more)

• US targets surging grocery prices in latest probe (more)

• Treasuries rally extends into seventh day as US payrolls loom (more)

• DOJ investigating Nvidia's acquisition of AI startup (more)

• Mortgage rates fall slightly to lowest level since February (more)

• BOJ likely to hike in October after big shift (more)

• Apple sales rise 5%, topping estimates revenues jump (more)

  • Apple files motion to dismiss DOJ antitrust lawsuit (more)

• Amazon slips, forecast disappoints for third quarter (more)

• Intel to cut 15,000 jobs, suspend dividend in turnaround push (more)

• Luxury powerhouses are seeing profits eroded by a Chinese gray market (more)

Time to Sell NVDA? 50-Yr Wall Street Legend Weighs In

Wall Street investors are selling their shares at a record pace.

Even AI superfan Cathie Woods is offloading her shares.

With the stock already up 63% in 2024 alone – is it too late to get in?

One legendary stockpicker – with 50 years' experience on Wall Street – just gave his answer, here.

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DEALFLOW

M+A | Investments

• Caesars sells World Series of Poker to online gambling operator for $500M (more)

• CD&R explores sale of American Greetings (more)

• Occidental closes $12B CrownRock deal (more)

• R1 to go private in $8.9B deal with TowerBrook, CD&R (more)

• Altice sells Teads to Outbrain in $1 Billion ad tech deal (more)

• Hedge fund tycoon Marshall closes in on deal for Spectator (more)

• Boost Insurance Holdings, Inc., an infrastructure platform for MGAs, brokers, agents, and insurance providers, secured an equity investment from BHMS Investments (more)

VC

• Outpace Bio, a cell therapy company using AI-powered protein design to program immune cells for improved function inside patients battling solid tumors, raised $144M in Series B financing (more)

• Agrovision, a healthy superfruit platform, raised $100M in equity financing at over $1 Billion valuation (more)

• Thumbtack, a tech company enabling people to improve their homes, received $75M in financing (more)

• Protect AI, an AI and machine learning security company, raised $60M in Series B funding (more)

• TS Conductor, a manufacturer of advanced electric power lines, closed a $60M growth funding round (more)

• Ema, a gen AI company creating the universal employee of the future, added $36M to its Series A funding which now totals $50M (more)

• Mindera Health, Inc., a company developing next-gen medical tech to enable skin analytics at the molecular level, closed $14M financing (more)

• Sybill, an AI assistant for sales teams, raised $11M in Series A funding (more)

• Athena Security, a leader in concealed weapons detection system software, closed a $10M seed funding round (more)

• Tezi, an autonomous AI recruiter, raised $9M in seed funding (more)

• Bee, an AI developer of a wearable assistant, raised $7M in seed funding (more)

• Sora Fuel, a startup producing sustainable aviation fuel using water, air and renewable energy, raised $6M in seed funding (more)

• When, an AI offboarding solution to help employees navigate post-employment transitions by offering more affordable alternatives to COBRA, closed a Seed funding round of $4.6M (more)

• SafeGuard Privacy, a SaaS compliance platform allowing platforms to comply with global privacy laws, closed a $3.6M funding round (more)

• Mintify, builder of an NFT order book, raised $3.4M in funding (more)

• Streamkap, a real-time data exchange to sync data between systems and companies, raised $3.3M in seed and pre-seed funding (more)

• PortfolioPilot.com, an AI-driven financial advisory platform from Global Predictions, closed a $2M seed funding round (more)

CRYPTO

• MicroStrategy posts oss after writedown of Bitcoin cache (more)

• Ripple to allocate $10M to tokenized US T-bills on XRP ledger (more)

• Bitcoin indicator forewarning late 2023 volatility explosion lights up again (more)

BULLISH BITES

🚨 Summer Stock Alert: Why are hedge funds dumping AI stocks? *

🔥 Heating Up: Microsoft now lists OpenAI as a competitor in AI and search.

👎 Ouch: The 10 worst states to retire in the U.S.—No. 1 isn’t California or New York.

🤺 Talent Hub: The entire U.S. men's Olympic fencing team went to Harvard.

🫘 Only In Beantown: Sports that would have been introduced if Boston hosted the 2024 Olympics.

DAILY SHARE

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