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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 44.37% for Wk of June 20 2024 (Last week: 44.59%)

Market Recap:

• S&P fell 0.25% after hitting a new high, Nasdaq -0.79%, Dow +0.77%.

• Nvidia declined 3.5%.

• Darden Restaurants up 1.5% on strong earnings.

• Gilead Sciences surged 8.5% on successful HIV trial.

• AI excitement continues to boost the market.

• Economic data shows softening: higher jobless claims, weak housing starts, and disappointing Philly Fed Manufacturing Index.

EARNINGS

Here’s what we’re watching this week:

• Today: Carmax (KMX)

Full earnings calendar here.

HEADLINES

OpenAI Competitor Anthropic Announces its Most Powerful AI Yet

Canada Prepares Potential Tariffs on Chinese EVs After US and EU Moves

• Stocks show signs of buyer exhaustion after rally (more)

• Biden economists claim progress on grocery inflation (more)

• Supreme Court upholds US tax on foreign business income (more)

• DOJ drops claims that TikTok misled US consumers in lawsuit (more)

• $5.5 Trillion triple-witching to test market calm (more)

• Money-market funds see first outflow in two months with taxes due (more)

• Key dollar gauge soars to close at highest level of the year (more)

• Brent rises to $86 as cooling jobs market buoys rate cut hopes (more)

• New home construction slows as mortgage rates remain high (more)

• Asian shares end the week with a whimper (more)

• Trump Media plummets 15% as DJT stock sell-off deepens (more)

• Amazon is getting rid of plastic air pillows (more)

• McDonald’s releases a new $5 value meal to combat inflation (more)

• Lilly files lawsuits over compounded tirzepatide (more)

• Rite Aid shuts down 27 more locations (more)

• SpaceX unveils backpack-sized ‘Starlink Mini’ satellite internet antenna for $599 (more)

DEALFLOW

M+A | Investments

• LVMH is buying one of the most famous restaurants in Paris (more)

• Carlyle, KKR top bidders for Discover's $10B US student loan portfolio (more)

• Hertz plans to raise $750M through secured notes offering (more)

• BP to buy out Bunge's stake in Brazilian biofuels JV in $1.4B deal (more)

• Castlelake to buy up to $1.2B in consumer loans from Upstart (more)

• Bullhorn, a software provider for the staffing and recruitment industry, acquired Textkernel, an industry leader in sourcing AI solutions (more)

• unitQ, an AI-powered customer feedback platform, received an investment from Zendesk Ventures (more)

VC

• FairNow, a provider of AI governance software, raised $3.5M in Seed funding (more)

• Materia, a generative AI platform built specifically for public accounting firms, raised $6.3M in funding (more)

• Cadana, a global payroll technology company specializing in emerging markets, raised $7.4M in funding to date (more)

• Pomerium, a provider of an access control platform, raised $13.75M in Series A funding (more)

• Gynger, an embedded financing platform for technology purchases, raised $20M in Series A funding (more)

• Kinetic, an automotive company that delivers digital maintenance and servicing for EVs and AVs, raised $21M in Series B funding (more)

• Molten Industries, a company that converts natural gas into clean graphite and hydrogen, raised $25M in Series A funding (more)

• GrayMatter Robotics, a robotics company delivering autonomous robotic solutions, raised $45M in Series B funding (more)

CRYPTO

• Saylor's MicroStrategy acquires 11.9K more Bitcoin for $786M (more)

• Crypto Super PAC Fairshake raised $160 million by end of May (more)

BULLISH BITES

🏀 Pursuits: Red Bull considers NBA entry with new franchise in Las Vegas.

📈  AI’s Massive Surge: Don’t miss the second wave. *

🎧 Listen: Inside the players and politics of the modern AI industry.

🏦 Influence: What a reelected Trump could and couldn’t do to sway the Fed.

🏎 Next Level: This is Bugatti’s new hypercar, a $4 million, 1,800 horsepower hybrid.

DAILY SHARE

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