BEFORE THE OPEN

MARKETS:

• Stock futures nearly flat Tue night; eyes on Nvidia, corporate earnings today

• Dow futures add 22 pts (0.1%), S&P 500, Nasdaq 100 futures up 0.1%

• Urban Outfitters +5% after solid report, La-Z-Boy down 1% on sales concerns

• Retail giants Peloton, Foot Locker, Kohl’s, Abercrombie & Fitch due today before bell; Nvidia, Snowflake after close

• S&P 500, Dow down 0.3% and 0.5%, Nasdaq up 0.06% on mixed session

• Dick’s Sporting Goods -24% on missed expectations, Macy’s -14% on conservative outlook

• Lowe’s +3% beats estimates, economic data on new home sales and purchasing ahead

• Federal Reserve symposium in Jackson Hole starts Thursday; Powell remarks Friday

EARNINGS

What we’re watching:

• Wednesday: Nvidia (NVDA)

• Thursday: Dollar Tree (DLTR)

• Full earnings calendar here

NEWS BRIEFING

SoftBank-Backed Chip Designer Arm Reveals Plans for Biggest US IPO in Nearly 2 Years

Teamsters Ratify Historic UPS Contract

• 10-year Treasury yield falls as investors consider interest rate outlook (more)

• Maui wildfire victims fear land grab may threaten Hawaiian culture (more)

• Labor Union turns up heat in battle over sale of US Steel (more)

• Sudden rally in China stocks has traders scratching their heads (more)

• Global Investors Pour Billions Into Japan Hotels on Tourism Jump (more)

• American Airlines pilots approve sweetened labor deal with big raises (more)

• Microsoft pushes to get Activision done with fresh UK offer (more)

• Canada to challenge U.S. softwood lumber duties (more)

• Altria Group sues Juul over e-vapor patent infringement (more)

• New York is about to enforce its Airbnb rules - hosts and guests are scrambling (more)

• Goldman cracking down on employees that aren't in office five days a week (more)

• Meta releases an AI model that can transcribe and translate close to 100 languages (more)

• Musk plans to remove headlines from news articles shared on X (more)

• AMC shares crater as investors brace for stock conversion (more)

• Europe’s sweeping rules for tech giants are about to kick in (more)

• 3M names Bryan Hanson as CEO of its healthcare business (more)

• Ferrari CEO says nearly a third of new buyers are under 40, even as wait lists grow (more)

• Zara billionaire Ortega buys Chicago apartment tower for $232M (more)

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DEALFLOW

• Thailand's KBank in talks to buy Vietnam lender in up to $1 billion deal (more)

• Microsoft, Activision to sell streaming rights to secure biggest video gaming deal (more)

• Abu Dhabi wealth fund puts $450M more into Australian private credit fund (more)

• AeroVironment to acquire Tomahawk Robotics for $120M (more)

• Shell receives final bids for UK North Sea Gas assets (more)

• Triton’s €2 billion sale of Pharmanovia is stalling (more)

• RBC taps Ex-Credit Suisse banker Perry for oil, gas dealmaking (more)

• Noodle, an education’s strategy, services and technology company, acquired Meteor Learning, a Certified B edtech corporation (more)

• Garden Streets, a provider of corporate employee engagement and wellness solutions, acquired Revive, a marketplace of team building activities (more)

• Foundery, a biotechnology venture studio focused on translating immunology discoveries into drug candidates, announced an initial closing of its inaugural fund, Foundery I, LP, with total capital commitments and contributed assets equal to $29.6M (more)

• Grip Security, a SaaS identity risk management company, raised $41M in Series B funding (more)

• Algoma Capital, a firm that helps small and middle market companies grow in the beverage space, launched $100M credit fund for whiskey brands and distilleries (more)

• Koverly, a provider of a B2B payments solution, raised $7.6M in Seed funding (more)

• Cerby, a provider of an access management platform for nonstandard applications, raised $17M in Series A funding (more)

• Accure Battery Intelligence, a provider of predictive analytics software to ensure battery safety, performance and extended life for energy storage, electric vehicles, and other applications, raised €7.2M in funding (more)

• Crowda, a provider of an AI-powered funding platform designed to streamline and enhance real estate development projects, raised $1M in Pre-Seed funding (more)

CRYPTO

• Coinbase takes equity stake in USDC stablecoin issuer Circlee (more)

• Indian crypto exchange CoinDCX cuts staff by 12% (more)

• Citadel-backed EDX taps Anchorage to custody Crypto (more)

• Shiba Inu plans Shibarium's public restart days Aater botched launch (more)

• Mantle stakes $66M of Ether on Lido as part of treasury management strategy (more)

BULLISH BITES

🤖 How Nvidia Built a Competitive Moat Around A.I. Chips…
How did Nvidia manage to build such an impervious competitive moat around its A.I. chips? The answer lies in its strategic approach to becoming a comprehensive one-stop solution for A.I. development, encompassing not just chips, but also software and a multitude of services… (continue)

🎥 How This 50-Year-Old CEO Went Viral on TikTok and Won Mortgage Customers…
IFounder Anthony Lee beat rising interest rates with viral videos, growing Zap Mortgage's revenue 1,915 percent to land at No. 294 on the 2023 Inc. 5000. Here's how he did it...

DAILY SHARES

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