BEFORE THE OPEN BEFORE

MARKETS:

• Flat U.S. stock futures Mon night; Nasdaq, S&P 500 break 4-day slide, amid August losses

• Dow futures dip 33 pts (0.1%), S&P 500, Nasdaq 100 futures tick down 0.1%

• Nasdaq gains 1.6%, S&P 500 up 0.7%, Dow slightly down 0.1%

• Nasdaq's rise notable as 10-year Treasury yield hits highest since Nov 2007 at 4.34%, historically pressuring tech stocks

• Lowe's, Macy's earnings Tue; Nvidia's Wed - up 8% Mon, key AI sentiment indicator

• Economic data: Philadelphia & Richmond Fed surveys; Existing home sales data Tue.

• Focus on Fed Chair Powell's Jackson Hole remarks Friday for inflation insight

EARNINGS

What we’re watching:

• Tuesday: Toll Brothers (TOL)

• Wednesday: Nvidia (NVDA)

• Thursday: Dollar Tree (DLTR)

• Full earnings calendar here

NEWS BRIEFING

S&P Joins Moody’s in Cutting US Banks Amid ‘Tough’ Climate

Run It Cold: Why Xi Jinping is Letting China’s Economy Flail

• Fed's long-term GDP outlook is dismal; the economy hasn't got the message yet (more)

• Summer of angst as bond yields surge and global stocks wobble (more)

• Pentagon space arm awards $1.5 billion contract to Lockheed, Northrop for communications satellites (more)

• China’s central bank trims 1-year rate, but unexpectedly leaves 5-year rate unchanged (more)

• Palo Alto Networks shares rise more than 16% after earnings report (more)

• Covid vaccine stocks jump as new variants emerge ahead of fall rollout of new shots (more)

• Nvidia earnings will be major test for AI demand (more)

• Google executive turnover and role changes come as the company searches for new identity (more)

• Bloomberg shakes up leadership team, names Mark Carney as Chairman (more)

• American workers are demanding nearly $80,000 a year to take new job (more)

• Arm IPO to put SoftBank's AI hard sell to the test (more)

• Goldman Sachs weighs sale of part of its wealth business (more)

• Domino’s Pizza files for bankruptcy in Russia (more)

• YouTube starts Music AI incubator with Universal Music as partner

  (more)

• Deepfake imposter scams are driving a new wave of fraud (more)

• Tupperware whizzes along as shorts increase (more)

• Ralph Lauren CEO Louvet targets young shoppers in the Metaverse (more)

• NY, California each lost $1 trillion when financial firms moved south (more)

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DEALFLOW

• Private equity firm Roark nears deal to buy Subway for about $9.6B (more)

• Permian Resources to buy Earthstone in $4.5 billion deal (more)

• Axiom Space raises $350M from Saudi and Korean investors (more)

• Continental considers sell-off of ContiTech car business (more)

• UK clears Broadcom's $69 bln deal to buy VMware (more)

• Apex Revenue, a provider of revenue operations solutions, acquired Phone Ready Leads, a sales intelligence company and data scoring platform provider (more)

• American Battery Factory, a Lithium Iron Phosphate (LFP) battery cell manufacturer, raised development capital in Series A funding (more)

• Writerly AI, a provider of AI-powered writing tools, raised $2M in Initial funding (more)

• Astrocyte Pharmaceuticals, a clinical-stage drug discovery and development company, raised $6M in Pre-Series B funding (more)

• Genesis Therapeutics, an artificial intelligence (AI) tech company specializing in medicines for patients with severe diseases, raised $200M in Series B funding (more)

• Ghost, a members-only B2B marketplace for surplus inventory, raised $30M in Series B funding (more)

• Anthropic, an AI research company, received a $100M investment from SK Telecom Venture Capital (SKTVC), the Silicon Valley-based venture capital arm of SKT (NYSE:SKM) (more)

• RiskScout, a regulatory technology company, raised an undisclosed amount in Seed funding (more)

• Braintrust Tutors, a provider of a tutoring platform for K-12 students, raised $2.5M in Seed funding (more)

• Blended Sense, a media technology company for creative professional, raised $2.5M in Seed funding (more)

• Verdigris Technologies, a provider of AI-powered energy management solutions, raised $10M in funding (more)

• Mendaera, a company which specializes in in healthcare robotics, raised $24M in Series A funding (more)

• Prins AI Technology, Ltd, a provider of an AI-driven digital persona training product, closed a $22M Series A+ funding round (more)

• Arccos, an on-course tracking system and a leader in connected A.I. golf products, raised a strategic fundraising round (more)

CRYPTO

• Bitcoin holds steady around $26,000 as altcoins face continued selling pressure (more)

• Bitcoin extends losses as global jump in bond yields deters dip buying (more)

• Bitcoin calm shatters with sudden tumble, mass liquidations (more)

• Why PayPal's stablecoin is likely to succeed where Facebook's Libra failed (more)

• Ethereum co-founder Vitalik Buterin moves $1M of ETH to Coinbase (more)

BULLISH BITES

💼 Why Startups are Investing Millions to Make Drugs and Semiconductors in Space…
In-space manufacturing may sound like science fiction but it’s happening already, albeit on a very small scale. It’s a fledgling market that analysts and several startups are projecting will take off... (continue reading)

🍽 3 Trends are Dividing Restaurant Companies Into Winners and Losers…
While most restaurant companies crushed earnings expectations, a number of them fell short of Wall Street’s estimates for their quarterly revenue. Here are three trends that defined the quarter and determined its winners and losers…

DAILY SHARES

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