BEFORE THE OPEN

MARKETS:

• Nasdaq 100 futures up 0.8% after recent correction.

• Amazon gains nearly 5% in after-hours trading on strong Q3 results.

• Ford stock drops 3% due to missed Q3 earnings and guidance withdrawal.

• Nasdaq in correction territory, down over 12% since July high.

• S&P 500 teeters close to correction, down 9.8% from July high.

• Upcoming focus on September's personal consumption expenditures (PCE) reading, a key inflation gauge.

• Chevron and Exxon Mobil to report earnings before the bell.

EARNINGS

• Full earnings calendar here

NEWS BRIEFING

Morgan Stanley’s Ted Pick Says Investment Banking to Lead Next Cycle

Disney’s 100 Years: With an Uncertain Future, Will Disney Pull Off Yet Another Magic Trick?

• Israel War Latest:

  • Behind Biden's shift on Israel-Hamas war - Gaza deaths, international pressure (more)

  • Hamas' tunnel city beneath Gaza - a hidden front line for Israel (more)

• US economy glows red hot with a 4.9% GDP reading for the third quarter (more)

  • Biden hails hot GDP report, but voters don’t see the rosy picture Wall Street does (more)

  • Yellen says yield surge is due to strong economy, not deficits (more)

• New House Speaker meets Biden to discuss funding requests (more)

• China rushes to swap Western tech with domestic options as U.S. cracks down (more)

• Xi said to sacrifice economic growth in order to root out corruption in China’s troubled real-estate sector (more)

• Ford workers to return to work as UAW turns to GM, Stellantis (more)

• UAW makes new proposal to GM as sides bargain to end strike (more)

• Sam Bankman-Fried tells judge he acted on legal advice (more)

• CVS ditches common cold meds after FDA advisers say they’re useless (more)

• Weight-loss drug worries add to US restaurants' weak traffic woes (more)

• Tesla gets $100M US ultra-fast charger order from BP EV charging unit (more)

• Uber begins offering rides in self-driving Waymo cars (more)

• OpenAI is starting a new team to reduce risk from future AI (more)

• Behind the donor revolt at Penn (more)

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DEALFLOW

• Silver Lake says it’s working on offer to buy Endeavor Group (more)

• Singapore-based fintech YouTrip picks up $50M led by Lightspeed (more)

• Triveni Bio, a biotech company providing a genetics-informed precision medicine approach for I&I disorders, raised $92M in Series A funding (more)

• AgentSync, a modern insurance infrastructure company, raised $50M in funding (more)

• Garuda Ventures, a B2B-focused pre-seed and seed venture capital firm based on Bay Area, raised $31M for its debut institutional fund (more)

• Omnidian, a solar asset management company, closed a $25M funding round (more)

• sbe, a lifestyle hospitality company, raised $25M in Credit Facility from Feenix Venture Partners (more)

• Cranium, an AI security company, raised $25M in Series A funding (more)

• Traba, a marketplace platform for light industrial staffing, raised $22M in funding (more)

• Betteromics, a provider of a clinical-grade compliant software-as-a-service platform, raised $20M in Series A funding (more)

• FlyGuys, a reality data-capturing technology company, raised $10M in Series A funding (more)

• Inlyte Energy, a grid battery developer, raised $8M in seed funding (more)

• Upfort, a provider of a cyber security and insurance platform, raised $8M in Series A funding (more)

• Direqt, a provider of a AI chatbot platform built exclusively for publishers, raised $4.5M in funding (more)

• Midas Healthcare Solutions, Inc., a developer of tech-driven solutions to promote the safe use, storage, return, and disposal of controlled substances and other dangerous medications in hospitals, raised $2M in funding (more)

• Web3 Pro, a provider of a SaaS MarTech solution, raised an undisclosed amount in new funding (more)

• Aliro Qunatum, a quantum networking company, received an investment from Cisco Investments (more)

• TowerBrook invests in Langan (more)

M & A:

• SmartBug Media, a digital agency for organizations looking to create resilient growth across the customer lifecycle, acquired Globalia, a Canadian digital agency known for its systems integration, implementation and digital transformation capabilities serving a global customer base (more)

• Hull Street Energy acquires California Natural Gas-Fired Power Plant (more)

• Pearl Street acquires Famous Brands franchising (more)

• First National Realty Partners buys ShopRite-anchored center (more)

• Sun Capital purchases Kovalus Separation Solutions (more)

• FVLCRUM buys Burrell Communications Group (more)

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CRYPTO

• SBF grilled in court on deleted messages during testimony (more)

• JPM Coin handles over $1B in daily transactions — JPMorgan exec (more)

• Bitcoin cools off at $34K, but '5th bull market' has further to run, says analyst (more)

BULLISH BITES

🫣 Business leaders are keeping a low profile regarding the new Middle East conflict after a decade of public CEO statements on hot-button issues.

🍎 Inside Google's plan to stop Apple from getting serious about search

🚀 Taylor Swift vaults into billionaire ranks with blockbuster Eras tour.

😡 X users slam VC Jason Calacanis for mocking a woman venting about her 9-5 job.

✈️ Wander is the future of travel—the guarantees of a quality hotel paired with the comforts (and space) of a home.

DAILY SHARES

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