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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓43.17% for Wk of July 25 2024

Market Wrap:

• S&P 500 +1.58%, Nasdaq +2.64%, Dow +0.24%.

• Meta Platforms up 7% on strong Q2 results.

• Arm Holdings down 10% on weak guidance.

• Fed Chair Powell hints at a September rate cut.

• Tech stocks bounced: Nvidia +13%, Semiconductor ETF +8%.

• July recap: Nasdaq -0.8%, S&P +1.1%, Dow +4.4%.

• Earnings ahead: Apple, Amazon, Intel, Moderna.

EARNINGS

Here’s what we’re watching:

• Today: Amazon (AMZN), DoorDash (DASH), DraftKings (DKNG), Hershey Foods (HSY), Intel (INTC), Moderna (MRNA), Roblox (RBLX), Roku (ROKU), Sirius XM (SIRI), Twilio (TWLO), Wayfair (W), Wendy's (WEN)

  • Apple (AAPL) - earnings of $1.34 per share (+13.6% YoY) on $84.4B revenue (+10.4% YoY)

Full earnings calendar here.

HEADLINES

Chair Powell Gives the September Rate Cut Signal Traders Were Hoping For

Bank Stocks Rally to Two-Year High in Sentiment ‘U-Turn’

• Slowing wage gains restrain US labor costs in second quarter (more)

• Traders rush back to oil options to hedge Mid-East political risk (more)

• Wall St panel endorses T-bill supply scorned by republicans (more)

• Japan raises interest rates for second time since 2007 (more)

• Nvidia’s stock surges 13% as Microsoft says the magic words (more)

• Meta shares pop on revenue and earnings beat (more)

• Arm slides after sticking with tepid annual sales forecast (more)

• Amazon set to join Big Tech's spending surge as AI race heats up (more)

• Boeing taps new CEO, aerospace veteran Ortberg (more)

• Bill Ackman’s Pershing Square withdraws IPO as demand for offering waned (more)

• UAW union endorses Vice President Kamala Harris (more)

• 23andMe CEO files proposal to take company private as stock craters (more)

A Massive $1 Trillion AI Superproject is Underway

AI is growing exponentially. That means thousands of existing facilities are now obsolete.

New billion-dollar mega complexes are rising in their place.

They’re six times more powerful.

And Nvidia, the hottest company in the world, is playing a vital role in their production.

But they’re not alone …

Nvidia needs a critical group of Silent Partners to help get the job done.

Click here to discover these key companies behind this $1 trillion Superproject

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DEALFLOW

M+A | Investments

• Robot software maker Covariant gets takeover inquiry from Amazon (more)

• Italy’s Bending Spoons buys WeTransfer file-sharing pioneer (more)

• CBIZ to acquire accounting firm Marcum in $2.3B deal (more)

• ClickHouse, Inc., a company behind a popular real-time analytical database, acquired PeerDB, a provider of change data capture solutions for Postgres databases (more)

• Dotmatics, a leader in R&D scientific software connecting science, data, and decision-making, acquired EasyPanel, a company specializing in flow cytometry panel design software (more)

• Fiverr announced its acquisition of AutoDS, a subscription-based end-to-end solution for dropshippers (more)

• Halcyon, a platform designed to defeating ransomware, received a strategic investment from Cisco Investments (more)

• Winky Lux, a beauty brand known for its innovative products and commitment to clean, cruelty-free formulations, received a majority investment from CORE Industrial Partners (more)

VC

• FleetPulse, an innovator in trailer telematics, received an additional funding of undisclosed amount (more)

• Gloo, a tech platform dedicated to connecting the faith ecosystem and releasing its collective might, closed a $110M financing (more)

• Spring Health, a mental health solution for employers and health plans, raised $100M in Series E funding with valuation of $3.3B (more)

• Airna, a biotech company advancing RNA therapeutics for patients with diseases, closed a $60M financing round (more)

• Rhombus, a leader in cloud-managed physical security, raised $45M in Series C funding (more)

• Ema, a gen AI company creating the universal employee of the future, added $36M to its Series A funding totaling $50M (more)

• Graphyte, a leader in the durable carbon removal industry, closed a $30M Series A funding round (more)

• Applied Carbon, a tech company designing automated biochar production machines that convert crop waste into biochar, raised a $21.5M in Series A funding (more)

• Checkly, a provider of synthetic monitoring powered by Monitoring as Code and Playwright, raised $20M in Series B funding (more)

• Gigpro, an on-demand labor marketplace for the hospitality industry, closed a $16M Series A funding round (more)

• Leaf, a unified farm data API and farm data processing platform, closed a $11.3M Series A funding (more)

• Icebreaker, an open professional network, raised $5M in seed funding (more)

• Matereal, a plastic replacements technology company, closed a $4.5M seed funding round (more)

• FranShares, a platform for franchise investing, raised $4.1M in seed funding (more)

• Endari, a cybersecurity company, raised $4M in seed funding. The backers were not disclosed (more)

• Not Diamond, a product that gives developers the ability to route AI queries to the best-suited models, raised $2.3M in funding (more)

CRYPTO

• World’s second-largest Bitcoin fund spawns lower-fee offshoot (more)

• XRP surges 7% amid Ripple-SEC settlement hopes, $600M token unlock (more)

• Tether stablecoin issuer says 2Q profit was $1.3 billion (more)

BULLISH BITES

🔥 Next Move: He called Nvidia at $8. Here’s his next pick … *

😎 Watch Out: AMD is becoming an AI chip company, just like Nvidia.

👊 Next Level: California's DMV is attempting to fight fraud by uploading 42 million car titles to the blockchain.

🤡 Crazy: Google wins the gold medal for worst Olympic ad.

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