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| | Good morning. | The Fast Five → Big Tech earnings arrive with Nasdaq 100 on brink of correction, Trump promises American crypto "going to the moon", a Fed rate cut is finally within view, fast-food chains battle for diners, and Apple agrees to first US labor deal… | Former hedge fund manager: Prepare for the 2024 Wall Street reckoning » | | Calendar: (all times ET) | TUE, 7/30: | Consumer confidence, 10:00 AM | WED, 7/31: | FOMC interest-rate decision, 2:00 PM
Fed Chair Powell press conference 2:30 PM | THU, 8/1: | Initial jobless claims, 8:30 AM | FRI, 8/2: | Employment report, 8:30 AM |
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| | Your 5-minute briefing for Monday, July 29: | | BEFORE THE OPEN |  | As of market close 7/26/2024. Bitcoin as of 7/28/2024. |
| Pre-Market: | | |
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| US Investor % Bullish Sentiment:
↓ 43.17% for Wk of July 25 2024 (Last week: 52.75%) |
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|  | Chart updates every Friday. |
| | Market Recap: | Stocks jumped Friday, ending a turbulent week. Dow +1.64%, S&P +1.11%, Nasdaq +1.03%. Driven by strong GDP report and Fed rate cut expectations. 3M +23%, best day since 1972. Microsoft, Amazon +1%, Meta Platforms +3%. June PCE index: +0.1% monthly, +2.5% yearly, meeting expectations. Dow +0.8% for the week, fourth consecutive positive week.
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| | | Here's what we're watching: | Today: McDonald's (MCD) Tuesday: Advanced Micro Devices (AMD), JetBlue Airways (JBLU), Live Nation (LYV), PayPal Holdings (PYPL), Restaurant Brands (QSR), SoFi Technologies (SOFI), Starbucks (SBUX) Microsoft (MSFT) - earnings to be up 8.9% YoY, while revenue is forecast to rise 14.5% to $64.4B Procter & Gamble (PG) - earnings of $1.37 per share, flat on a year-over-year basis, on $20.8B revenue (+1% YoY)
Wednesday: Arm Holdings (ARM), Boeing (BA), Carvana (CVNA), DuPont (DD), eBay (EBAY), Etsy (ETSY), Marriott (MAR), Meta Platforms (META) Thursday: Amazon (AMZN), DoorDash (DASH), DraftKings (DKNG), Hershey Foods (HSY), Intel (INTC), Moderna (MRNA), Roblox (RBLX), Roku (ROKU), Sirius XM (SIRI), Twilio (TWLO), Wayfair (W), Wendy's (WEN)
| Full earnings calendar here. |
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| | | |  | Nasdaq 100 Index has fallen 8% from a peak earlier this month. Focus is on earnings this week from Microsoft, Apple, Amazon. |
| |  | Donald Trump took the stage an hour late Saturday to make his speech at the Bitcoin 2024 conference at the Music City Center. |
| A Fed rate cut is finally within view (more) Yellen rebuffs Trump argument on dollar hurting manufacturing (more) G20 agrees to tackle taxation of the super-rich, but forum not yet decided (more) Hedge fund study on US Treasury issuance fuels debate (more) US home insurers suffer biggest loss of century in 2023 (more) BOJ's victory lap on deflation paves way for rate-hike cycle (more) Reeves promises to 'fix the foundations' of Britain's economy (more) Apple agrees to first US labor deal (more) Fast-food chains battle for low-income diners with summer value meals (more) Delta meltdown is Buttigieg's latest headache (more) Debut of Bill Ackman's new fund delayed (more)
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| Take a demo, get a Blackstone Griddle | | Automate expense reports so you can focus on strategy Uncapped virtual corporate cards Access scalable credit lines from $500 to $15M
| Request a demo | | | M+A | Investments | Vital Energy, Northern Oil and Gas buy Point Energy shale assets for $1.1B (more) Regional lender WesBanco to buy smaller rival Premier Financial in $959M deal (more) Thoma Bravo to seek $2.74B in Nasdaq stake sale (more) Apollo Funds to buy IGT's gaming, Everi in $6.3B deal (more) Analytic Partners, a commercial analytics company, acquires Magic Numbers, a marketing analytics firm (more) Riveron, a business advisory firm, acquired Yantra, a technology and advisory services provider (more) Tunespotter, a "music moment" search and fan engagement platform at the nexus of pop culture, acquired What-song.com, a search engine built on movie, TV show soundtracks, and playlists (more) Summer Fridays, a skincare and hybrid makeup brand, received an investment from TSG Consumer Partners (more)
| VC | Cowbell, a provider of cyber insurance for small and medium-sized enterprises, raised $60M in Series C funding (more) DocketAI, an AI revenue enablement startup, raised $15M in Series A funding (more) SlicedHealth, cloud solutions for hospitals to optimize revenue and manage compliance, raised $5M in Series A funding (more) Noded AI, a maker of note-taking and task management software, raised $4m in funding (more)
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| | | Trump proposes strategic national crypto stockpile: 'Never sell your bitcoin' (more) Democrats pushing Harris campaign for 'reset' on crypto stance, House Rep says (more) Ethereum whales undeterred by price drop, move 3.49M ETH (more)
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| | | | | | | | DAILY SHARE | |  | Not Jerome Powell @alifarhat79 |  |
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🎯 |  | | | 3:01 PM • Jul 28, 2024 | | | | | | 1.77K Likes 205 Retweets | 70 Replies |
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|  | wallstreetbets @wallstreetbets | |
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Sure they did |  | | | 8:40 PM • Jul 28, 2024 | | | | | | 502 Likes 61 Retweets | 82 Replies |
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|  | Douglas A. Boneparth @dougboneparth | |
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Congrats to bitcoin for breaking $69,000 for the 78th time! | | | 2:50 PM • Jul 27, 2024 | | | | | | 1.15K Likes 39 Retweets | 93 Replies |
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|  | Autism Capital 🧩 @AutismCapital | |
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Waiting for Bitcoin to break $70k. |  | | | 10:31 PM • Jul 28, 2024 | | | | | | 246 Likes 8 Retweets | 22 Replies |
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| What did you think about today's briefing? | |
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