BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↑ 49.01% for Week of October 10 2024

Market Wrap:

• Stocks fell: S&P 500 -0.21%, Dow -0.14%, Nasdaq -0.05%.

• CPI report showed inflation at 2.4%, hotter than expected.

• Fed's Bostic suggested pausing rate cuts in November.

• Fed funds futures suggest 85% chance of a 25 bps cut in Nov.

• Universal Insurance +12%, Pfizer -3%, AMD -4% after launching AI chip.

EARNINGS

Earnings we’re watching this week:

• Today: BlackRock (BLK), Wells Fargo (WFC)

  • JPMorgan Chase (JPM) - earnings of $4.01 per share (-7.4% YoY) on $41.7B revenue (+5.1% YoY)

See full earnings calendar here.

HEADLINES

Inside the Final Inflation Report Before the Election

AMD Launches AI Chip to Rival Nvidia’s Blackwell

• Here’s the inflation breakdown for September 2024 — in one chart (more)

• Wall St mixed as inflation data backs bets of 25 bps rate cut in November (more)

• Mortgage rates surge for second-straight week after hitting two-year lows (more)

• Oil prices jump 4% on US storm and Israel-Iran fears (more)

• Asian stocks to sidestep Wall Street dip after CPI (more)

• Elon Musk reveals $30K Tesla Cybercab and Robovan at robotaxi event (more)

• TD Bank pleads guilty in money laundering case, will pay $3 bln in penalties (more)

• Trump Media shares up 100% from recent low as DJT rally continues (more)

• Tesla gambles on ‘black box’ AI tech for robotaxis (more)

• Berkshire cuts stake in BofA to below 10% (more)

A BRIEFING FROM PORTER STANSBERRY

Now Live!

BREAKING POINT 2024

In the aftermath of November 5, the markets could be cleaved in two by an unseen financial force that’s brewing beneath the “politics” of the election. 

Get on the right side of this coming divide here.  

- A message from Porter Stansberry -

DEALFLOW

M+A | Investments

• UAE’s Lunate explores $1 bln stake in credit firm HPS (more)

• Brookfield to buy Tritax EuroBox for $1.44 bln (more)

• Seven & i will split into two to fend off Couche-Tard takeover (more)

• Legendary in talks to buy Wanda’s stake in ‘Dune’ studio (more)

VC

• Toca Football, Inc., a soccer experience company, raised approximately $100M in Series F funding (more)

• Glooko, Inc., a global integrated digital health company, raised $100M in Series F financing (more)

• Cytovale, a commercial-stage medical diagnostics company, raised $100M in Series D funding (more)

• Farther, a tech-powered financial advisory firm, raised $72M in Series C funding (more)

• Suki, a leader in AI technology for healthcare, raiserd $70 in Series D funding (more)

• Braintrust, a platform enabling companies to evaluate and enhance the performance of AI products, raised $36M in Series A funding (more)

• Relyance AI, an AI-powered data governance platform that provides visibility over enterprise-wide data, raised $32M in Series B funding (more)

• Rivermark Medical, a company specializing in minimally invasive solutions for BPH, raised $30M in Series C funding (more)

• Scope3, a collaborative sustainability platform decarbonizing media and advertising, raised $25M in funding (more)

• Noetica AI, an AI-powered software platform for benchmarking deal terms, raised $22M in Series A funding (more)

• Document Crunch, a construction document compliance platform, raised $21.5M in Series B funding (more)

• Case Status, an AI-powered client engagement platform for law firms, raised $19.7M in Series B funding (more)

• FlexFactor, a provider of decline recovery solutions for eCommerce brands, closed a $16.8M Series A funding round (more)

• Centaur Labs, a company specializing in health data annotation, raised $16M+ in Series B funding (more)

• Covu, a company specializing in AI-native services for insurance agencies, raised $12.5M in Series A funding (more)

• RadiantGraph, a platform using artificial intelligence to drive consumer engagement for healthcare, raised $11M in Series A funding (more)

• LEVY Health, an innovator in the field of reproductive health technology, raised $4.5M in funding (more)

• MiLaboratories, a company specializing in computational biology innovation, raised an undisclosed amount in Series A funding (more)

CRYPTO

• The FBI secretly created a coin to investigate crypto pump-and-dump schemes (more)

• Bitcoin tumbles below $59K amid inflation worry (more)

• Four reasons Ether ETFs have underperformed (more)

BULLISH BITES

⚠️ Warning: The election is about to rip markets in two *

🎯 Misleading: Fed’s 2% inflation target is ‘sacrosanct’ — and here.

📉 Impact: How stuck is the startup exit market? Pretty stuck, says Pitchbook.

🏛 Influence: The New Yorker dubs Silicon Valley the new lobbying monster.

😎 Trending: Wide, billowing pants are IN according to GQ.

DAILY SHARES

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