Monday’s poll: How far will the Fed cut rates this month?

🟨🟨⬜️⬜️⬜️⬜️ 25 bps (30%)

🟩🟩🟩🟩🟩🟩 50 bps or higher (70%)

First Comment: “Can’t increase by 50 bps before election, showing bias for incumbent administration!” - C.A.

BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 45.33% for Week of September 05 2024

Market Wrap:

• Stock futures slightly up: S&P +0.09%, Nasdaq +0.04%, Dow flat.

• Oracle surged 8% on strong Q1 results, AWS partnership.

• S&P, Nasdaq +1.16% Monday; Dow +484 points (+1.2%).

• Investors bet on a Fed rate cut at Sept. 17-18 meeting.

• CPI and PPI reports could move markets this week.

• September’s weak seasonality, election uncertainty still concerns.

EARNINGS

Here’s what we’re watching this week:

• Today: GameStop (GME), Petco (WOOF)

  • Dave & Buster's (PLAY) - earnings of $0.84 per share (+40% YoY) on $560.7M revenue (+3.4% YoY)

• Thursday: Kroger (KR)

  • Adobe (ADBE) - earnings of $4.53 per share (+10.5% YoY) on revenue of $5.4B (+10.2% YoY)

Full earnings calendar here.

HEADLINES

Apple Event Shows Off iPhone 16 with Not-Quite-Ready AI

Huawei’s Trifold Phone Gets 3 Million Pre-Orders Ahead of Apple’s iPhone 16 Launch

• Trial Day 1: US argues Google created ad tech monopoly (more)

• SEC penalizes 7 public companies for violating whistleblower protections (more)

• Americans face credit hit as student debt goes delinquent again (more)

• Morgan Stanley cuts oil forecast again as concerns deepen (more)

• China’s deflationary spiral now entering dangerous new stage (more)

• Goldman trading set to fall more than expected with 10% drop (more)

• Apple’s iPhone 16 event: the 8 biggest announcements (more)

• Palantir soars 14% on inclusion in S&P 500 (more)

• Disney 'is playing hardball' with DirecTV over 'skinnier' bundles (more)

• Big Lots files for bankruptcy protection, sells to private equity firm (more)

• HSBC mulls merging commercial, investment bank to cut costs (more)

• Coach-Versace union goes to court against Biden’s antitrust cop (more)

A Message from Betterment

DEALFLOW

M+A | Investments

• Permira raises takeover offer for Squarespace to $7.2B (more)

• Methanex to acquire OCI's methanol business in $2.05B deal (more)

• Progress to buy cloud software unit ShareFile for $875M (more)

• EQT to acquire GeBBS Healthcare Solutions for over $850M (more)

• US lender NBT Bancorp to buy Evans Bancorp in $236M deal (more)

• Big Lots sells business to Nexus Capital, begins bankruptcy proceedings (more)

• PE firm CVC sweetens offer for Germany's Schenker (more)

• Ingo Payments, account funding and disbursements solutions defined as Money Mobility, acquired Deposits, banking software tools and infrastructure (more)

• Moody's Corporation (MCO), acquired Praedicat, a provider of casualty insurance analytics solutions (more)

• Palylocity (PCTY), cloud-based HR and payroll software solutions, acquired Airbase, finance and spend management software solutions (more)

• Bentley Systems (BSY), an infrastructure engineering software company, acquired Cesium, a 3D geospatial company (more)

• AMCS, sustainability software for foundational industries, acquired Qv21 Technologies, fleet management and logistics SaaS solutions for short-haul, bulk commodity transportation (more)

• Ncontracts, integrated compliance, risk, and vendor management solutions to the financial services industry, acquired Venminder, a platform for managing third-party risk (more)

• Execupay, payroll and HR services for SMB’s, acquired Professional Payroll, payroll and HR services (more)

• Indus Valley Partners, software and technology solutions, acquired IntegriDATA, alternative investment software solutions (more)

• Absolute Security, a company specializing in enterprise cyber resilience, acquired Syxsense, automated endpoint and vulnerability management (more)

• Branded, a digital consumer products platform, acquired Heyday, a digital brand creation company, to form a new company, Essor (more)

VC

• Candid Therapeutics, a biotech company dedicated to developing drugs to address autoimmune diseases, raised $370M in funding (more)

• Superluminal Medicines, a company using generative biology, chemistry, and machine learning approaches to create medicines, raised $120M in Series A funding (more)

• OrsoBio, Inc., a clinical-stage biopharmaceutical company developing treatments for obesity disorders, closed a $67M Series B financing (more)

• MirrorWeb, a leader in the digital communications archiving and surveillance software space, raised $63M in funding (more)

• CSA Medical, developer of The RejuvenAir®, a liquid nitrogen spray cryotherapy for the treatment of chronic bronchitis, raised $53M in Series D funding (more)

• Mangomint, salon and spa software, raised $35M in Series B funding (more)

• Bambusa Therapeutics, a biotech company developing antibodies for the treatment of immunological disorders, raised $15M in Seed funding (more)

• Odigos, an eBPF-based observability platform, raised $13M in funding (more)

• Citroniq Chemicals, a producer of carbon-negative materials, raised $12M in Series A funding (more)

• PIN AI secures $10M from a16z CSX, Hack VC, and All-Star angels to launch open platform for personal AI (more)

CRYPTO

• Bitcoin rebounds from its worst week in more than a year, jumping above $57,000 (more)

• A 0.50% Fed rate cut could raise alarm for Bitcoin, 10X research warns (more)

• Michael Saylor says Republicans have more 'progressive’ view on crypto, democrats ‘drifting to the Middle’ (more)

BULLISH BITES

📈 Buffett, Dalio, Gates: Why they covet this $16 AI stock *

🤖 FYI: Here’s the full list of 35 US AI startups that have raised $100M or more in 2024.

☕️ Damage Control: Six issues Brian Niccol will have to fix at Starbucks as he takes over as CEO.

🚘 Bad News for EVs: Consumers less likely to buy one compared to last year.

💼 Next Level: One company is using AI to reinvent the B-school case study method.

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