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BEFORE THE OPEN

Pre-Market:

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

Market Wrap:

• S&P futures +0.9%, Nasdaq +1.2%, Dow +0.6%

• Regular trading sharp sell-off: Dow -2.6%, S&P -3%, Nasdaq -3.43%

• Weak jobs report sparks recession fears, concerns Fed behind on rate cuts

• Japan’s Nikkei 225 had worst decline since 1987

• US Treasury yields fell as investors sought safe-haven bonds

• Cboe Volatility Index surged to 65, highest since 2020

• Palantir +13%, Lucid Group +6% on strong quarterly results

EARNINGS

Here’s what we’re watching this week:

• Today: Airbnb (ABNB), Amgen (AMGN), Instacart (CART), Reddit (RDDT), Restaurant Brands (QSR), Rivian (RIVN), Uber (UBER)

  • Caterpillar (CAT) - earnings of $5.54 per share on $16.7B revenue (-3.7% YoY)

• Wednesday: CVS (CVS), Duolingo (DUOL), Klaviyo (KVYO), Lyft (LYFT), Shopify (SHOP)

  • Robinhood (HOOD) - earnings up $.15 per share on $634.2M revenue (+30.5% YoY)

  • Walt Disney (DIS) - earnings of $1.19 per share (+15.5% YoY) on $23.0B revenue (+3.1% YoY)

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

Full earnings calendar here.

TOGETHER WITH WEISS RESEARCH

CNBC's 'Prophet' Who Called Dot-Com
Crash Issues Controversial Warning

As AI stocks sent the stock market to new highs every other month, the mainstream media warned investors to prepare for another 2000-style tech crash.

But the man CNBC nicknamed 'The Prophet' is going against the crowd.

He accurately predicted the dot-com crash in 2000, and today, he has a controversial new warning about the AI craze.

It could dictate your next decade of success – or failure – in the U.S. stock market.

See for yourself here.

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HEADLINES

Global Stocks Continue Falling as Fears of US Recession Grow

Google Is an Illegal Monopoly, Federal Court Rules

• $1 trillion wipeout - market rout punishes megacap tech (more)

• Investors are unwinding the biggest ‘carry trade’ the world has ever seen (more)

• Wall St 'fear gauge' logs record jump as investors bet on more turbulence (more)

• JPMorgan trading desk says ‘getting close’ to buy-the-dip opportunity (more)

• Traders bet on Fed emergency rate cuts, but officials need more to react (more)

• Fed's Goolsbee says central bank will 'fix' US economy if it deteriorates (more)

• Asia stocks rebound after a day of wild selling worldwide (more)

• Dollar down as US rate cut bets rise (more)

• US crude oil falls to six-month low as market sells off (more)

• Survey: Home prices will stay high even if the Fed cuts interest rates (more)

• Palantir surges on outlook for earnings and software business (more)

• US banks report best loan demand in 2 years (more)

• Elliott breaks down Southwest ownership in new regulatory filing (more)

DEALFLOW

M+A | Investments

• Quantum Capital to buy Cogentrix for $3B in bets power demand rising (more)

• David Beckham-backed Guild Esports set for takeover by DCB Sports (more)

• L'Oreal acquires 10% stake in dermatology company Galderma (more)

• SocGen to sell UK, Swiss private bank units for about $1 bln (more)

• Hims to buy compounding pharmacy to make weight-loss drugs (more)

• Woodside to buy Texas Clean Ammonia Project for $2.4B (more)

• Accenture acquired Bolsan, a provider of management services for large infrastructure projects (more)

• ECI Software Solution, cloud-based business management software, acquires ProfitKey International LLC, an ERP platform for discrete manufacturers (more)

• Intellias, a software engineering and digital consulting company, acquired NorthLink Digital, an IT consultancy for financial services and insurance (more)

• OppFi, a mission-driven specialty fintech platform, announced acquired 35% equity interest in Bitty Advance, a credit access company (more)

• Vital Care, a franchisor of infusion therapy pharmacies, received a strategic investment (amount was not disclosed) (more)

VC

• Groq, a company specializing in fast AI inference, has secured a $640M Series D, at $2.8B valuation (more)

• Muon Space, an end-to-end space systems provider, raised $56M in Series B funding (more)

• Savvy Wealth, a digital-first platform for financial advisors, raised an additional $15.5M funding (more)

• Amlogenyx, Inc., a subsidiary of Ultragenyx Pharmaceutical, Inc. researching therapies for Alzheimer’s other amyloid diseases, completed a seed funding round of $14M (more)

• Hedra, a provider of AI-powered tools for generating video content with human characters, raised $10M in seed funding (more)

• Hyperbolic, a provider of GPU resources and AI services through a cloud platform, raised $7M in seed funding (more)

• NanoHive Medical, a company specializing in 3D-printed titanium spinal interbody fusion devices, raised $7M in Series C funding (more)

• Skillfully, a company specializing in simulation-driven hiring solutions, raised $2.5M in seed funding (more)

• LoanBYE, a company providing student loan relief solutions as an employer benefits package, received a 300K investment (more)

CRYPTO

• Bitcoin crashes to $50K as 'perfect storm' hits crypto market (more)

• Bitcoin and Ether ETFs battered amid global selloff in equities (more)

• Crypto ETF complex hit by selling spree in first big stress test (more)

BULLISH BITES

🚨 Free Download: How to Profit in a Collapsing Market *

💔 Break Up: OpenAI co-founder Schulman leaves for Anthropic, Brockman takes extended leave.

🔎 Inside Look: Why Starbucks is losing customers.

🔥 Hot List: 38 startups have become unicorns so far in 2024: Here’s the full list.

👜 China Luxe: A new generation of premium brands is taking made-in-China upscale.

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