Wall Street's 'KHive'

Wall Street’s ‘KHive’ fired up to back Harris, Wiz rejects Alphabet’s $23 billion offer, SEC approves first spot Ether ETFs to start trading Tuesday, Xi cements role as ‘Chief Economist,’ and Google cancels plans to kill off cookies…

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Market Briefing
July 23, 2024

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Good morning.

The Fast Five → Wall Street’s ‘KHive’ fired up to back Harris, Wiz rejects Alphabet’s $23 billion offer, SEC approves first spot Ether ETFs to start trading Tuesday, Xi cements role as ‘Chief Economist,’ and Google cancels plans to kill off cookies…

Calendar: (all times ET)

WED, 7/24:

New home sales, 10:00 AM

THU, 7/25:

GDP, 8:30 AM
Initial jobless claims, 8:30 AM
Durable-goods orders, 8:30 AM

FRI, 7/26:

PCE index, 8:30 AM
Consumer sentiment, 10:00 AM

Your 5-minute briefing for Tuesday, July 23:

BEFORE THE OPEN

As of market close 7/22/2024.

Pre-Market:

US Investor % Bullish Sentiment:
↑ 52.75% for Wk of July 18 2024 (Last week: 49.18%)

Chart updates every Friday.

Market Recap:

  • S&P rose 1%, best session since early June; Dow +0.3%.

  • Nasdaq outperformed, climbing 1.6%.

  • Investors optimistic about Fed rate cuts aiding smaller, cyclic stocks.

  • Earnings from GM, Coca-Cola, Comcast, UPS, Spotify before the bell.

  • Alphabet, Tesla, Mattel report after the bell.

  • Nonmanufacturing and existing home sales data due Tuesday.

EARNINGS

Here’s what we’re watching this week:

  • Today: Albertsons (ACI), Capital One Financial (COF), Coca-Cola (KO), General Motors (GM), Kimberly-Clark (KMB), Lockheed Martin (LMT), Spotify (SPOT), Tesla (TSLA), UPS (UPS), Visa (V)

    • Alphabet (GOOGL) - earnings of $1.84 per share (+27.8% YoY) on $84.2B revenue (+12.9% YoY)

  • Wednesday: AT&T (T), Lennox Int'l (LII), IBM (IBM)

    • Chipotle (CMG) - earnings of $.32 per share (+28% YoY) on $2.9B revenue (+16.3% YoY)

  • Thursday: AbbVie (ABBV), Honeywell (HON), Southwest Air (LUV)

  • Friday: Bristol-Myers Squibb (BMY)

    • 3M (MMM) - earnings of $1.68 per share (-22.6% YoY) on $5.9B revenue (-25.4% YoY)

Full earnings calendar here.

HEADLINES

Democratic donors join officials in endorsing vice president. Lazard president predicts more in finance will come around.

CEO Assaf Rappaport told employees the company would pursue an IPO as originally planned.

  • Wall St closes higher as investors return to megacap stocks

    category (more)

  • SEC approves first spot Ether ETFs to start trading Tuesday (more)

  • Xi cements role as ‘Chief Economist’ shrinking space for debate (more)

  • Bond markets haunted by bigger debt loads and erratic politics (more)

  • Chip stocks rebound ahead of megacap earnings (more)

  • Dip buyers wade back in to drive Wall Street gains (more)

  • Cracks in stock market calm boost allure of portfolio protection (more)

  • CrowdStrike shares tumble as fallout from global tech outage continues (more)

  • Alphabet to report double-digit Q2 growth (more)

  • Google cancels plans to kill off cookies for advertisers (more)

  • Tesla to use humanoid robots next year (more)

  • EU threatens to fine Meta for saying Facebook is ‘free’ (more)

  • Berkshire Hathaway offloads more BYD, taking its stake below 5%

Fidelity Director Predicts $1 BILLION Bitcoin

That's why Fidelity – the world's 4th largest asset manager – has acquired $11 billion worth of Bitcoin.

They're desperate to claim their stake in this modern gold rush.

And you should be, too.

But before you buy bitcoin (or any other crypto), you'll want to watch this interview.

In it, an 11-year crypto veteran names his #1 crypto to buy (it's not bitcoin or Ethereum). Learn more here.

- sponsored message -

- We’re on a short break this week -
The Dealflow and Crypto sections
will resume on Monday 7/29.

BULLISH BITES

⚖️ Justice: ‘Wolf of Airbnb’ gets 4 years for New York City rental fraud

💰 Protect Your Money: Fed’s shocking new power play.

🤦🏻‍♂️ Roll Call: The $12,000 Harvard class celebrities are fighting to get in.

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