BEFORE THE OPEN

Pre-Market:

Market Recap:

• US stock futures near flatline post sell-off due to bond yields and rate cut uncertainty.

• Dow futures down 0.1%, S&P 500 down 0.05%, Nasdaq 100 up 0.02%.

• Palantir surges 19% on Q4 beat, NXP Semiconductors up 3.3%.

• S&P 500, Dow pull back from highs, down 0.32% and 0.71%; Nasdaq down 0.2%.

• 10-year Treasury yield up 13 points to 4.16% after Fed Chair Powell's remarks.

• Concerns about market sustainability raised by Bob Doll.

• NY Fed's Q4 household debt report, central bank speakers, and earnings: Eli Lilly, Spirit, DuPont in AM; Amgen, Chipotle, Ford after bell.

EARNINGS

What we’re watching this week:

• Today: Chipotle Mexican Grill (CMG), Ford Motor (F), KKR (KKR), MicroStategy (MSTR), Spotify Technology (SPOT)

  • Eli Lilly (LLY) - expected: $2.36 per share (+12.9% YoY) on $9.0B revenue (+22.9% YoY)

• Wednesday: Roblox (RBLX)

  • Walt Disney (DIS) - expected: $1.04 per share (+5.1% YoY) on $23.8B revenue (+1.3% YoY)

• Thursday: Affirm (AFRM), AstraZeneca (AZN), Spirit Airlines (SAVE)

• Friday: PepsiCo (PEP)

Full earnings calendar here

HEADLINES

The S&P 500's Top Stocks Haven't Been this Concentrated in 50 Years

Tech Industry Starts the Year With 32,000 Jobs Cut

• Powell tells ‘60 Minutes’ Fed is wary of cutting rates too soon (more)

• Stock market in a ‘very dangerous’ position as jobs and wages run hot (more)

• Goldman believes it's likely the 'Magnificent 7' beats the market again this year (more)

• Fed says banks tightened credit standards in fourth quarter (more)

• Bill Gross is betting on a steeper yield curve (more)

• NYCB’s tense talks with watchdog led to moves that rocked market (more)

• Oil market will face supply shortage by end of 2025, Occidental CEO says (more)

• Mortgage rates jump back over 7% as stronger economic data rolls in (more)

• Palantir stock jumps 19% on revenue beat (more)

• Boeing finds more misdrilled holes on 737 in latest setback (more)

• Snap cutting 10% of staff as social media copes with ad slump (more)

• Tesla is losing the Magnificent Seven cage fight (more)

• US regional lenders' commercial real estate exposure in spotlight after carnage (more)

• AI chip demand forces Huawei to slow smartphone production (more)

• Wegovy maker inks $16.5 billion deal to boost weight-loss drug supply (more)

• NYC apartment buildings are on sale now for 50% off (more)

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DEALFLOW

M+A | Investments

• Blackstone considers bid for skin-care company L’Occitane (more)

• Byron Allen says he’s begun talks with Paramount on $14.3B buyout bid (more)

• DocuSign falls on report Bain, Hellman & Friedman are losing interest (more)

• Stellantis says no merger plans after Renault report (more)

• CVC weighs sale of hotel booking app Good Choice (more)

• Fosun considers sale of $800M stake in Ageas (more)

• Novo Nordisk parent to buy Catalent for $16.5B to expand Wegovy supply (more)

• Yandex owner to exit Russia in $5.2 billion deal (more)

• Merck Animal Health buys Elanco’s Aqua business for $1.3B (more)

• MedImpact Healthcare Systems, Inc., an independent health solutions and benefit management provider, acquired Elixir Solutions, a pharmacy benefits and services company (more)

• Cantaloupe, Inc. (CTLP), a provider of end-to-end technology solutions for self-service commerce, acquired Cheq Lifestyle Technology, Inc., a provider of solutions that streamline venue operations (more)

• Chainwire Merlin Chain, the native Bitcoin Layer2, announced a round of funding from 24 investors including OKX Ventures, ABCDE, Foresight Ventures and Arkstream Capital (more)

• Furno Materials, a company that is building modular cement plants, received an investment from O’Shaughnessy Ventures (more)

• Inovalon, a provider of cloud-based software solutions empowering data-driven healthcare, acquired VigiLanz, a SaaS-based clinical surveillance and patient safety software and data company (more)

• JuneShine, a hard kombucha and ready-to-drink spirits brand, received an investment from InvestBev (more)

• Trilantic-backed OLS acquires The Rock Place (more)

• Thoma Bravo acquires Everbridge (more)

• CBRE purchases J&J Worldwide (more)

• Comfort Systems buys Summit Industrial Construction (more)

• Aquiline partners with Health Prime (more)

• Investcorp invests in Banner Ridge Partners (more)

VC

• Procyrion, a medical device company, raised $57.7M in Series E funding, including the conversion of $10.0M of interim financing (more)

• ProducePay, an agtech company, raised $38M in Series D funding (more)

• Statuspro, a sports technology and gaming company, raised $20M in Series A funding (more)

• Vektor Medical, a pioneer in non-invasive, AI-based arrhythmia analysis technology, announced a $16M Series A investment (more)

• Nibiru Chain, a provider of a general-purpose layer 1 blockchain, raised $12M in funding (more)

• Nauticus Robotics (KITT), a developer of subsea robots and software, raised $12M in funding (more)

• Meme Kombat, a provider of Web3 igaming platform, raised nearly $8M in its fundraising campaign (more)

• Candor Technology, Inc., a provider of automated underwriting technology and other tech solutions for the mortgage industry, closed a Series B equity funding round of undisclosed amount (more)

• Rivia Health, a provider of a revenue cycle management solution for healthcare provider organizations, raised $3.25M in Seed funding (more)

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CRYPTO

• Blockchains may counterbalance AI, Andreessen’s Dixon says (more)

• Genesis seeks approval to sell $1.6B in Bitcoin, Ether Trust Holdings (more)

• Bitcoin ETFs see $700M net inflows as BlackRock, Fidelity Gains offset GBTC outflows (more)

BULLISH BITES

🎯 Strategy: B2B vs. B2C is not about who’s buying, but how you’re selling.

😱  Trending: Layoffs in the age of TikTok have employers doing damage control.

💡 Playbook: How to write your monthly investor update.

👀 Watching: Silicon Valley’s new start-ups: City-States.

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