Editor note: Hello - for the next few weeks you may catch a stray briefing in your promotions or spam folder - this is because we’ve switched to a new domain and told to expect a little turbulence.
How you can help: Kindly mark any stray briefing as "not spam", drag it to your primary folder, or reply to this email. We’ll be smooth sailing again by the end of the month. Thank you! -MB Team

💰 Unveiled: NVIDIA’s "Secret Royalty" Program »
From Behind The Markets

BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 51.16% for Week of August 29 2024

Market Wrap:

• S&P, Nasdaq down for two sessions; Dow +38 points.

• Key jobless claims today, payrolls Friday.

• Market reacting to growth concerns from weak data.

• Jobless claims crucial for market stability, per BMO’s Yung-Yu Ma.

• Fed rate decision tied to employment data.

• Short-term turbulence expected, broader rally likely later.

EARNINGS

Here are the earnings we’re watching this week:

• Today: DocuSign (DOCU)

  •  Broadcom (AVGO) - earnings of $1.20 per share (+14.3% YoY) on $13.0B revenue (+46% YoY)

Full earnings calendar here.

HEADLINES

Biden to Block Nippon Steel’s Proposed Takeover of US Steel

Harris Pushes 28% Capital Gains Tax Rate on $1 Million Earners

• Wall Street is unsettled again, after fueling a global sell-off

• Fed rate-cut size this month to hinge on job market health (more)

• Job openings data points to cooling job market (more)

• Dollar weakness to stall as markets over-egg Fed rate cuts (more)

• Oil price drop casts doubt on OPEC’s great unwind (more)

• Russia built covert trade channel with India, leaks reveal (more)

• JPMorgan abandons recommendation to buy China stocks ahead of US election (more)

• Nvidia says they didn’t receive subpoena from DOJ (more)

• OpenAI co-founder Ilya Sutskever raises $1 billion for his new AI firm (more)

• Lyft to cut jobs in restructuring, sell part of bike business (more)

• Volvo Cars abandons 2030 EV-only target (more)

• Johnson & Johnson adds $1.1 billion to proposed talc settlement (more)

• Bolt's big deal comes under new scrutiny (more)

A Message from Behind The Markets

Earn “AI Royalties”
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Did you know that there's an investment that will give you the opportunity to collect "royalties" every time Nvidia makes a chip?

Ex-Wall Street CEO Dylan Jovine calls this "the easiest windfall from the AI revolution."

Elon Musk says that without this company, "civilization will crumble."

JP Morgan Chase warns of a "global depression" without this investment.

Even ChatGPT founder Sam Altman says AI depends on this company's work...

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- sponsored message -

DEALFLOW

M+A | Investments

• Nordstrom family bids to take chain private for $3.8B (more)

• Verizon is in talks to buy Frontier Communications (more)

• Oaktree clinches sale of Italian bank Banca Progetto to Centerbridge (more)

• UAE’s Adnoc buys 35% stake in Exxon’s Texas hydrogen plant (more)

• L2L, a company specializing in connected workforce solutions acquired SwipeGuide, mobile-first training for the manufacturing workforce (more)

• ITC Federal, a provider of IT solutions and enterprise services to US federal agencies, received an investment from Blue Delta Capital Partners (more)

• Sonoma Biotherapeutics, a clinical-stage biotech company for autoimmune and inflammatory diseases, received a $45M investment from Regeneron Pharmaceuticals (more)

• Tru Consulting, a digital transformation consultancy, received a strategic growth investment from Superstep Capital (more)

VC

• EnClear Therapies, an early-stage neurotechnology company, raised additional funding (more)

• CeresAI, a data and analytics provider that helps growers, lenders and insurers reduce their farming risk, raised an undisclosed amount in Series D funding (more)

• ArsenalBio, a clinical stage programmable cell therapy company, raised $325M in Series C funding (more)

• eGenesis, a biotech company developing human-compatible engineered organs, raised $191M in Series B funding (more)

• Cortex, a productivity platform for engineers, raised $60M in Series C funding (more)

• Galy, a climate tech company, raised $33M in Series B funding (more)

• Revefi, a data ops automation startup, raised $20M in Series A funding (more)

• PatientPartner, a health-tech startup improving patient engagement and adherence, raised $7M in Seed funding (more)

• Flex, a provider of a solution for brands to accept HSA and FSA payments online, raised $3.2M in Seed funding (more)

• Root Signals, a startup specializing in GenAI measurement with LLM-as-a-judge techniques, raised $2.8M in funding (more)

CRYPTO

• Trump family crypto project vows to ‘ensure dollar’s dominance’ (more)

• Kamala Harris fundraising blitz in works by supporters in crypto (more)

• Robinhood in $3.9M settlement with California over crypto withdrawals (more)

BULLISH BITES

🚨 Breaking: Collect “royalties” every time Nvidia makes a chip? *

✏️ The Buzz: Why is 'founder mode' generating so much online chatter? Look no further than Paul Graham’s latest essay.

👀 Inside Look: What to expect from Apple’s ‘It’s Glowtime’ iPhone 16 event.

🏆 Bowl to Cup: Billionaire NFL owners bet on the other football.

🍣 Trending: How omakase became America’s favorite fine-dining flex.

DAILY SHARE

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