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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
39.04% for Wk of May 30 2024 (Last week: 47.04%).

Market Recap:

• Stock futures dip: Dow -0.10%, S&P -0.20%, Nasdaq -0.31%.

• Dell -16%, MongoDB -23%, Gap up 21%, Nordstrom -6%.

• Major indexes fell Thursday: Dow -0.9%, S&P -0.6%, Nasdaq -1.1%.

• S&P, Nasdaq ending 5-week win streaks; Dow set for second weekly loss.

• April PCE data expected Friday; core PCE forecast +2.7% YoY.

• Strong month: Dow +0.8%, S&P +4%, Nasdaq +7%.

EARNINGS

Full earnings calendar here. Next week’s earnings will post Monday 6/3.

HEADLINES

Wall Street Braces for Potential Volatility After Trump Verdict

Sources: TikTok Preparing a US Copy of the App’s Core Algorithm

• Wall Street Billionaires are rushing to back Trump, verdict be damned (more)

  • Trump campaign donation page crashes after guilty verdict (more)

  • Trump could still run for president if given prison time, though such a sentence is unlikely (more)

• Wall Street aces gig T+1 test with no rise in failed trades (more)

• Traders say disruptions minimal during S&P 500 pricing glitch (more)

• Consumers curb economic growth in first quarter, inflation cools (more)

• Dollar steadies before inflation test (more)

• Oil falls as Fed policymakers look to maintain rate cuts (more)

• Mortgage rates rose for the first time in four weeks (more)

• US sues Hyundai, others over child labor at Alabama parts plant (more)

• US is slowing AI chip exports to Middle East by Nvidia, AMD (more)

• FAA will not allow Boeing to boost 737 MAX production yet (more)

• Aircraft shortages turn into cash bonanza for some airlines (more)

• BofA CEO says US consumers and businesses have turned cautious on spending (more)

• Tesla shareholders advised by proxy adviser to reject Musk’s pay package (more)

• Amazon Prime now includes a Grubhub food-delivery subscription (more)

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DEALFLOW

M+A | Investments

• KKR wins EU nod for $24B Telecom Italia network deal (more)

• US Steel, Nippon Steel receive all non-US approvals for merger (more)

• Skydance sweetens offer for Paramount Global (more)

• Angeles Equity Partners acquires O’Hara’s Son Roofing (more)

• Investcorp-backed Sunrise purchases Moceri Produce (more)

• Broadridge buys AdvisorTarget (more)

• Vista invests in Portside (more)

• Cambridge Capital invests in STAT Recovery (more)

• Chloris Geospatial, a company measuring forest carbon from space, received an investment from Cisco Foundation and NextSTEP (more)

• Portside, provider of modern software solutions for the business aviation industry, received a strategic growth investment of undisclosed amount (more)

• Shorelight, an enrollment and performance management platform that drives international student success at top universities, closed a $30M revolving facility with CIBC Innovation Banking (more)

• MediaValet (MVP), provider of enterprise digital asset management and operations software, received credit facilities from CIBC Innovation Banking (more)

VC

• CoreWeave, a customized solutions provider developing cloud infrastructure for AI workloads, raised $1.1B in Series C funding (more)

• Plenful, an AI workflow automation platform streamlining pharmacy and healthcare operations, raised $17M in Series A funding (more)

• Axus Technology, a global provider of chemical mechanical planarization equipment, raised $12.5M in funding (more)

• Remark, a New York-based product guidance startup for online stores, raised $10.3M in funding (more)

• Weave Bio, provider of an AI-native life sciences platform, raised $10M in funding (more)

• Fortunafi, an on-chain financial company, raised $9.5M in total funding (more)

• Kintsugi AI, provider of a tax automation platform, raised $6M in Series A funding at a $40M valuation (more)

• Basalt Technologies Corp., a spacecraft OS company, raised $3.5M in Seed funding (more)

• (Re)vive, a solution addressing the challenges of unstockable and returned inventory for brands, raised $3.5M in Seed funding (more)

• HoundDog.ai, a startup implementing data security and privacy controls at the code level, raised a $3.1M in seed funding (more)

• Zendata, a provider of AI governance and data privacy solutions, raised $2M in Seed funding (more)

• Kalogon, a company specializing in smart seating solutions, raised $1.2M in funding (more)

CRYPTO

• Andreessen Horowitz donates $25M to crypto PAC Fairshake (more)

• Coinbase trading revenue under pressure as crypto comes of age (more)

• Ether spot ETFs to see much lower demand than Bitcoin versions, JPMorgan says (more)

• Terraform, Do Kwon agree in principle to settle fraud case with SEC (more)

BULLISH BITES

💡 Perspective: Pandemic puts Pioneer oil price-fixing accusations in a different light.

🤖 Full Circle: Google Zero is here — now what?

🤔 Second Thoughts: Why the UK’s richest plumber regrets selling out to KKR.

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🐝 Brilliant: 12-year-old wins astonishing spell-off at Scripps National Spelling Bee.

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