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| | Good morning. | The Fast Five → Alarm bells for economic downturn are clanging, investors left to guess where stocks go next, Berkshire cuts Apple stake by half, sharp slowdown in job growth, and Musk says Fed foolish not to have cut rates … | ➔ Free Book Reveals 4 Critical Steps to Withstand Economic Downturn
- Courtesy of Behind the Markets | | Calendar: (all times ET) - Full calendar here | Today: ISM services, 10:00 AM Tomorrow: US trade deficit, 8:30 AM
| | Your 5-minute briefing for Monday, August 5: | BEFORE THE OPEN |  | As of market close 8/2/2024. Bitcoin as of 8/4/2024. |
| Pre-Market: | | |
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| US Investor % Bullish Sentiment:
↑44.88% for Wk of August 01 2024 |
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|  | Last week: 43.17%. Updates every Friday. |
| | Market Wrap: | Stocks fell sharply Friday on weak July jobs report, recession fears. S&P -1.84%, Nasdaq -2.43% (10% below all-time high), Dow -1.51% Nasdaq in correction; S&P and Dow 5.7% and 3.9% below highs Unemployment rate: 4.3% 10-yr Treasury falls to lowest since December Amazon -8.8%, Intel -26%, Nvidia -1.8% after previous day's 6% loss Bank stocks hit: BofA -4.9%, Wells Fargo -6.4% Investors believe Fed should have cut rates on Wednesday
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| | | Here's what we're watching this week: | Today: Tyson Foods (TSN), Hims & Hers Health (HIMS), ZoomInfo Technologies (ZI) Tuesday: Airbnb (ABNB), Instacart (CART), iRobot (IRBT), Reddit (RDDT), Restaurant Brands Int'l (QSR), Rivian Automotive (RIVN), Uber Technologies (UBER), WK Kellogg Co (KLG), Yum! Brands (YUM) Wednesday: CVS Health (CVS), Duolingo (DUOL), Klaviyo (KVYO), Lyft (LYFT), Ralph Lauren (RL), Shopify (SHOP) Thursday: Eli Lilly (LLY), Paramount Global (PARA), PENN Entertainment (PENN)
| Full earnings calendar here. |
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| | | The Daily Newsletter for Intellectually Curious Readers | | We scour 100+ sources daily Read by CEOs, scientists, business owners and more 3.5 million subscribers
| Sign up today! | | | |  | Tumbling yields have investors turning to utilities, REITs 'The play is dividend payers,' Wealth Alliance's Diton says. |
| |  | The conglomerate reported nearly $277 billion in cash in the second quarter. And while it sold about 390 million shares in Apple, it still owned about 400 million. |
| The alarm bells for an economic downturn are clanging (more) Why fear is sweeping markets everywhere (more) Sharp slowdown in job growth boosts unemployment to 4.3% (more) US sues TikTok over 'massive-scale' privacy violations of kids <13 (more) Mortgage rates fall to 5-month low (more) Gold taps all-time highs as weak jobs data raise recession fears (more) Dollar path divides Goldman, Fidelity over emerging-market bonds (more) Rate hike whipsaws Japan, investors take long-term view (more) Musk says Fed foolish not to have cut interest rates (more) Apple investors urged to stay calm after Buffett slashes stake (more) Intel shares slump 26% as turnaround struggle deepens (more) Chevron dumps California for Texas after 145 years (more) Wall Street goes to the Olympics (more)
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| | | M+A | Investments | Snickers maker Mars explores buying Kellanov (more) Iberdrola to buy Britain's ENWL in $5.4B deal (more) Hartree to buy ED&F Man in soft commodities trade expansion (more) Blue Yonder, a leader in digital supply chain transformations, acquired Farmers Branch, One Network Enterprises, valued at $839M (more) Electronic Merchant Systems, a merchant and payments provider, received a majority investment from BharCap Partners (more) ExecThread, Inc., exec-level career opportuny aggregator for a global network of professionals, secured growth funding from Decathlon Capital Partners (more)
| VC | Bilt Rewards, a loyalty program for the home and neighborhood, raised an additional $150M in funding (more) Type One Energy, a provider of sustainable fusion power, closed its $82.4M seed financing round (more) Contextual AI, builder of customized language models for businesses to enhance AI applications, raised $80M Series A funding round (more) GovWell, a provider of a govtech software platform, raised $4.5M in seed funding (more) TS Conductor, a manufacturer of advanced electric power lines, closed a $60M growth funding round (more)
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| | | Bitcoin falls 5.69% to $58,987 (more) FBI issues warning about crypto exchange scams (more) Crypto execs to meet with White House advisers next week (more) Crypto booming again in New York as sentiment turns positive (more)
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| | | | | | | | DAILY SHARE |  | wallstreetbets @wallstreetbets |  |
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Financially ruined 😠 |  | | | 9:23 PM • Aug 4, 2024 | | | | | | 591 Likes 40 Retweets | 108 Replies |
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|  | Autism Capital 🧩 @AutismCapital | |
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Larrrrryyyy! Have we ever mentioned what a handsome man you are? Such a strong and powerful man. So courageous how you launched those Bitcoin and Ethereum ETFs. Only a big powerful man like you could pump the price of Crypto, you totally should! Did we mention you're so handsome? |  | | | 6:19 PM • Aug 4, 2024 | | | | | | 154 Likes 6 Retweets | 19 Replies |
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|  | litquidity @litcapital | |
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When you pay an agency millions to create a new logo that a pakistani dude on Fiverr could've done for $10 |  | | | 3:13 PM • Aug 2, 2024 | | | | | | 1.55K Likes 65 Retweets | 43 Replies |
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