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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↑44.88% for Wk of August 01 2024

Market Wrap:

• Stock futures dipped Wednesday evening

• Earlier rally fizzled, S&P fell 0.77%, Nasdaq -1.05%, Dow -234 points

• Avg’s declined in four of the past five sessions

• Volatility expected from economic concerns, geopolitical conflict, elections

• Monday's sell-off linked to slowing job growth; today jobless claims in focus

• Warner Bros. Discovery and Bumble fell on weak Q2 revenue

EARNINGS

Here’s what we’re watching:

• Today: Eli Lilly (LLY), Paramount Global (PARA), PENN Entertainment (PENN)

Full earnings calendar here.

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HEADLINES

Intel Sued by Shareholders Alleging Securities Fraud

JPMorgan Says Three Quarters of Global Carry Trades Now Unwound

• Traders brace for more S&P volatility after jobless claims (more)

• Traders lose billions on big volatility short after stocks rout (more)

• Dimon still sees a recession on the horizon (more)

• Asia markets mixed as Wall Street recovery stalls (more)

• Dollar down as rate cut bets rise, yen surges (more)

• China’s move away from the USD (more)

• Oil prices tick up on sharp fall in US crude inventories (more)

• 30-yr mortgage rate drops on weak jobs data (more)

• Politicians join customers in pushing companies to cut prices (more)

• Warner Bros. Discovery takes massive $11.2B in write-downs (more)

• Disney flags startling shift in consumer behavior at theme parks (more)

• Passengers sue Delta following massive IT outage (more)

• Gig economy emerges as a bright spot amid gloomy tech earnings (more)

DEALFLOW

M+A | Investments

• KKR plans Fuji soft bid in $4B take-private deal (more)

• SoftBank unveils $3.4B buyback as son hunts for AI deals (more)

• Aramco to buy stake in JV Petro Rabigh from Sumitomo Chem (more)

• WPP sells $775M stake in PR firm FGS Global to KKR (more)

• C Infinity Solutions LLC, a tech consulting firm, merged with Corgibytes LLC, a software development company (more)

• Celero Commerce, a financial services company, acquires Sona, provider of electronic payments to businesses across Canada (more)

• Cherry Bekaert, an assurance, tax, and advisory firm, acquired Kerr Consulting, a business applications and cloud tech provider (more)

• CloudBees, a software development platform for enterprises, acquired Launchable, an AI-augmented approach to QA (more)

• Enverus, a SaaS company that leverages gen AI across its solutions, acquired BidOut, an AI-powered procurement platform (more)

• Exiger, a supply chain and third-party risk AI company, acquired logistics intelligence platform XSB (more)

• Linked Eats, delivery revenue mngmt software for restaurants, acquired Sauce Technologies, AI solutions for digital-ordering (more)

• OPSWAT, a provider of critical infrastructure cybersecurity solutions, acquired InQuest, a cybersecurity solutions provider (more)

• BioGliph, a startup biotech software company, received a minority investment from Dotmatics (more)

• Clear Demand, an AI Price and Promotion Optimization software provider, received a strategic investment from M33 Growth (more)

• Salt & Stone, a fragrance-driven body care brand, received an investment from Humble Growth (more)

• Vivace International Corp, a manufacturer of propulsion tanks for space and defense applications, received a growth investment from Cerberus (more)

VC

• Anduril raises $1.5B at a $14B valuation (more)

• 3V Infrastructure, an electric vehicle charging infrastructure owner and operator, raised up to $40M in funding (more)

• Neon, a Postgres database for developers, raised $25.6M in funding (more)

• Anjuna, the creator of Anjuna Seaglass, the universal confidential computing platform, raised $25M in Series B2 funding (more)

• Datch, AI technology for frontline manufacturing, energy and utility sectors, raised $15M in Series A funding (more)

• Napkin, visual AI for business storytelling, raised $10M in seed funding (more)

• Energy Domain, a tech online marketplace, raised $5M in Series A funding (more)

• Carketa, a provider of end-to-end data and intelligence software for the auto industry, raised $4.4M in funding (more)

• Avoli, an athletic brand dedicated exclusively to women and girl volleyball athletes, raised $2.1M in funding (more)

CRYPTO

• Ripple Labs ordered to pay $125M penalty, fraction of SEC claim (more)

• Ether pulls back again following slight rebound with other risk assets (more)

• MicroStrategy’s Saylor says he personally owns $1 Billion in Bitcoin (more)

BULLISH BITES

🚨 Trending: This Wall Street stock prediction just went viral *

📉 Inside Look: Intel was once a Silicon Valley leader. How did it fall so far?

🔎 Opinion: The dollar's days as a universal reserve currency are numbered.

🤖 Disrupted: AI is poised to upend India's massive outsourcing industry.

🚴‍♀️ New Toy: Ford just unveiled e-bikes inspired by the Bronco and the Mustang.

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