| Good morning. | The Fast Five → Senate advances aid for Israel, Ukraine, Taiwan, and TikTok bill, FTC votes to ban noncompete agreements, Tesla speeds plan for cheaper cars by 2025, new Labor Dept rule cracks down on bad retirement savings advice, and Apple sends invites to May 7 launch event… | | Calendar: (all times ET) | Today: | Durable-goods orders, 8:30a | THU, 4/25: | GDP - Q1, 8:30a
Jobless claims, 8:30a | FRI, 4/26: | PCE index, 8:30a
Consumer Sentiment, 10:00a |
| | Your 5-minute briefing for Wednesday, April 24: | | BEFORE THE OPEN |  | As of market close 4/23/2024. |
| Pre-Market: | | |
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| US Investor % Bullish Sentiment:
38.27% for Wk of Apr 18 2024 (Last week: 43.44%) |
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| | | Market Recap: | S&P 500 futures up 0.1%, Nasdaq 100 futures surge 0.4%. Tesla rises 10% on "affordable" EV plan, misses Q4 forecast. Visa, Texas Instruments soar 2% and 6% on robust earnings. Over 75% of S&P 500 beat estimates in earnings. Markets extend gains; Dow up nearly 0.7%. Today: Boeing, Hasbro, Meta Platforms, Ford, Chipotle, IBM. Investors await morning durable goods data.
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| | | What we're watching this week: | Today: AT&T (T), Ford Motor (F), Lennox International (LII) Thursday: American Airlines (AAL), Caterpillar (CAT), Hertz Global (HTZ), Roku (ROKU), Teladoc (TDOC) Friday: AbbVie (ABBV), Chevron (CVX), Exxon Mobil (XOM)
| Full earnings calendar here |
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| | A MESSAGE FROM BEHIND THE MARKETS |
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| | | |  | Tesla is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales. |
| |  | The FTC voted 3-2 on Tuesday to ban noncompete agreements that prevent tens of millions of employees from working for competitors or starting a competing business after they leave a job. |
| Senate advances long-awaited aid for Israel, Ukraine, Taiwan, and TikTok bill (more) Millions more salaried workers will be eligible for overtime pay under final Biden administration rule (more) Labor Department issues rule to crack down on bad retirement savings advice (more) Gold's record-setting rally may have its roots in Chinese frenzy (more) 'Chaotic era' for Asian currencies: Bank of America not bullish on any of them (more) More than one in five cars sold in 2024 will be electric (more) Tesla to cut more than 6,000 jobs in Texas, California (more) Apple sends invites to May 7 launch event, new iPads expected (more) Amazon steps up grocery delivery war with Walmart, Target (more) Walmart-backed fintech One introduces buy now, pay later as it prepares bigger push into lending (more) Perplexity is raising $250M+ at a $2.5B-$3B valuation for its AI search platform (more) Billionaire donors rethink Columbia University support amid pro-Palestinian protests (more)
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| | M+A | Investments | JD Sports to buy US rival Hibbett in $1.08B sportswear retail deal (more) Boeing, Spirit agree $425M deal to address supplier's issues (more) IBM is in advanced talks to acquire software provider HashiCorp (more) Ithaca Energy snaps up Eni's UK assets in $940M North Sea deal (more) Germany's RTL acquires Nickelodeon rights for children's TV network (more) Infinite Reality buys drone racing league for $250 Million (more) Allfunds abandons talks about potential sale (more) CVC explores options for Italy's Recordati (more) Planoly, a social media management platform for creators and small businesses, acquired Snipfeed, a provider of a monetization tool for social media (more) Betterment, an independent digital investment advisor in the US, announced an agreement with Goldman Sachs to acquire Marcus Invest's digital investing accounts (more) Thunes, a global cross-border payments company, acquired Tilia LLC, a provider of a payments platform (more) Cognitus, a software solutions provider and digital transformation business, received a growth investment from Siguler Guff & Company and Haven Capital Partners (more)
| VC | Main Street Capital Corporation (MAIN), an investment firm, announced that since year-end it has invested a total of $36.6M in five existing lower middle market portfolio companies (more) Outpost, a provider of a network of managed semi-truck parking facilities, raised $12.5M in Series A funding (more) 401GO, a retirement plan provider for employers, raised $12M in Series A funding (more) HighByte, an industrial software company, raised $12M in Series A funding (more) Summer Health, a digital health company offering 24/7 pediatric support to parents, raised $11.65M in Series A Funding (more) Prophet Security, a company that helps security operations by automating response process for alerts, raised $11M in Seed funding (more) Nominal, a company specializing in creating end-to-end data analysis solutions for industrial engineering teams, raised $7.5M in Seed and $20M in Series A funding rounds (more) Prime intellect, a provider of an open and decentralized AI platform and protocol enabling access, raised $5.5M in Seed funding (more) Red Arrow Therapeutics Inc., a developer of pH-sensing nanomedicine drug delivery technologies, closed a $4.5M Seed Extension round (more) Bump, a provider of a wealthtech and financing platform for creators, raised $3M in Seed funding (more) Sustain Exchange, LLC, a startup focused on creating positive change in transactions while aligning with the 17 UN Sustainable Development Goals, closed a $2M seed funding round (more)
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| | | | | Hedge funds are succumbing to mind-boggling returns of memecoins (more) Do Kwon, Terraform Labs should get $5.3B fine, SEC tells court (more) Jack Dorsey's Block finishes development of Bitcoin mining chip (more) Hong Kong Crypto ETF launches will test ambition to be digital-asset hub (more)
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| | | | | | DAILY SHARES |  | TrendSpider @TrendSpider |  |
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Tesla EPS miss, Sales miss, Free Cash Flows -$2.5B, Deliveries down -9% Meanwhile, $TSLA stock: |  | | | Apr 23, 2024 | | |  | | | 376 Likes 42 Retweets 29 Replies |
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|  | Not Jerome Powell @alifarhat79 | |
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U.S. Senate passes $95 billion foreign aid package. My printer: |  | | | Apr 24, 2024 | | | | | | 609 Likes 53 Retweets 29 Replies |
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|  | Spill The Memes @SpillTheMemes | |
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Real |  | | | Apr 24, 2024 | | | | | | 199 Likes 14 Retweets 8 Replies |
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| | What did you think about today's briefing? | |
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