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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
￪ 44.59% for Wk of June 13 2024 (Last week: 38.97%)

Market Recap:

• S&P +0.77%, Nasdaq +0.95% - seventh weekly gain in eight weeks.

• Dow added 188.94 points, snapping 4-day losing streak.

• Tech led gains: Microsoft +1%, Apple +2%, Alphabet, Amazon, Meta higher.

• Nvidia hit new high but closed lower; Broadcom up 5.4%.

• Market momentum questioned despite gains.

• Investors await May retail sales data Tuesday.

EARNINGS

Here’s what we’re watching this week:

• Thursday: Accenture (ACN), Kroger (KR), Smith & Wesson Brands (SWBI)

  • Darden Restaurants (DRI) - earnings of $2.62 per share (+1.6% YoY) on $2.98B (+7.4% YoY)

• Friday: Carmax (KMX)

Full earnings calendar here.

HEADLINES

S&P 500 Hits 30th Record of 2024

Apple Shutting Down Pay Later, Its Affirm Rival, After One Year

• Fed Chair Powell scheduled for July 9 Senate Banking testimony (more)

• Boeing CEO to tell US Congress planemaker's culture is 'far from perfect' (more)

• Supreme Court to hear Nvidia appeal of crypto sales lawsuit (more)

• IRS to raise $50B by closing loophole exploited by the wealthy (more)

• US sues Adobe for hiding fees, making it difficult to cancel (more)

• US crude oil rallies more than 2% to top $80 per barrel, adding to last week’s gains (more)

• China's housing market crash intensifies (more)

• GameStop drops to session lows after annual meeting fails to offer details on firm’s strategy (more)

• Apple extends rally with a record-breaking stock market value (more)

• Berkshire Hathaway trims stake in Chinese EV maker BYD to 6.9% (more)

• Ken Fisher’s fortune to more than double on private equity sale (more)

• 'Bond King' Bill Gross smashes several records in sale of rare stamp collection (more)

• Trafigura agrees to pay $55 million to settle CFTC charges (more)

Nvidia's NEW "Silent Partners"

Many companies partnering with Nvidia have seen their own stocks go up …

That includes ASML, up as much as 471% …

Super Micro Computer, which has surged as much as 3,244%.

And Taiwan Semiconductor, which has soared as much as 4,744%.

With Nvidia now pivoting to a new $1 trillion AI superproject …

A new set of partners appear to be poised to benefit.

Find out who they are right away.

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DEALFLOW

M+A | Investments

• Primo Water and BlueTriton enter into merger agreement (more)

• Carlyle completes purchase of Seattle women's soccer club (more)

• GrubMarket, an AI-powered tech enabler and digital transformer for the food supply chain industry, acquired Parsemony, enterprise software services for food service suppliers (more)

• Venezuela mulls proposal to extend PDVSA-Chevron oil joint venture through 2047 (more)

• Finland’s Sampo to buy $4.7B valued Topdanmark (more)

• Deutsche Bank buys €1.7B aviation loans from NordLB (more)

• Seche Environnement to buy Singaporean hazardous waste firm ECO for $447M (more)

• Evercoast, end-to-end 3D spatial video software, acquired Depthkit, a company specializing in volumetric capture (more)

• Shift4, a company specializing in integrated payments technology, acquired a majority stake in Vectron Systems AG, a supplier of POS systems to the restaurant and hospitality verticals (more)

• Clearhaven Partners, a software private equity firm, acquired Zixi, a cloud based and on-premises software-defined video platform (more)

• Digits, an automated bookkeeping solution for startups, acquired Basis Finance, a budgeting and forecasting platform (more)

• Qualus, a power services firm, acquired ASSET Engineering, a differentiated power engineering and consulting firm (more)

VC

• Princeton Medspa Partners, a national medspa acquisition platform in medical aesthetics market, closed $120M in Growth financing (more)

• Elion Therapeutics, a biotech company advancing the treatment of invasive fungal infections, closed a $81M Series B funding (more)

• Princeton NuEnergy, a leader in lithium-ion battery direct recycling, closed a $30M Series A funding (more)

• Tinybrid, a real-time data platform for data and engineering teams, raised $30M in Series B funding (more)

• Constructor, an AI-powered product discovery and search platform for enterprise ecommerce companies, raised $25M in Series B funding, bringing the company’s valuation to $550M (more)

• Autify, an AI platform for quality engineering, raised $13M in Series B funding (more)

• Tender, a food tech startup, raised $11M in Series A funding (more)

• Hona, a company specializing in client engagement software for law firms, raised $9.5M in Series A funding (more)

• Valuebase, a provider of data-driven property valuations, raised $6.3M in Seed funding (more)

CRYPTO

• US SEC's crypto enforcer David Hirsch quits (more)

• Bitcoin bounces to $67K with BTC miners rallying 5%-10% (more)

• New twist on old bond-market strategy lures billions into crypto project (more)

• Trump and Biden shift strategies to compete for crypto voters (more)

BULLISH BITES

🤑 Rising up: How the US mopped up a third of global capital flows since Covid.

🚀  Next big bet: New AI Superproject could propel Nvidia to first $10 trillion company *

🔥 New trading: Why NYC’s hottest dining reservations will stay impossible to score.

⬆️ Surge: California's biggest utility expects power demand to double by 2040.

🍷 Next level: Chef James Kent saw the future of Wall Street dining.

DAILY SHARE

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