| Good morning. | The Fast Five → Stocks sell off a day after furious rally, Apple sluggishness in China casts shadow on upbeat results, DOJ investigating Nvidia's acquisition, US probes surging grocery prices, and Intel to cut 15,000+ jobs … | ⚠️ From Chaiken Analytics: Why Are Tech Stocks Falling in August? | | Calendar: (all times ET) | | | Your 5-minute briefing for Friday, August 2: | BEFORE THE OPEN |  | As of market close 8/1/2024. |
| 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: | Stock futures fell: S&P -0.3%, Dow -0.2%, Nasdaq -0.5%. Regular session: Dow -1.2%, S&P -1.4%, Nasdaq -2.3%. Market worried Fed is too late on policy. Small-cap rally at risk, Russell 2000 -3%. Today: July payrolls unemployment rate.
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| | | Here's what we're watching: | | Full earnings calendar here. |
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| | |  | No clear narrative explains the sudden burst of turbulence, though there are plenty of possible culprits. |
| | | Dow closes nearly 500 points lower as investors' recession fears awaken (more) Initial jobless claims rise to one-year high as hiring slows (more) Productivity surges 2.3%, beating forecasts (more) US targets surging grocery prices in latest probe (more) Treasuries rally extends into seventh day as US payrolls loom (more) DOJ investigating Nvidia's acquisition of AI startup (more) Mortgage rates fall slightly to lowest level since February (more) BOJ likely to hike in October after big shift (more) Apple sales rise 5%, topping estimates revenues jump (more) Amazon slips, forecast disappoints for third quarter (more) Intel to cut 15,000 jobs, suspend dividend in turnaround push (more) Luxury powerhouses are seeing profits eroded by a Chinese gray market (more)
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| | | | | Time to Sell NVDA? 50-Yr Wall Street Legend Weighs In | Wall Street investors are selling their shares at a record pace. | Even AI superfan Cathie Woods is offloading her shares. | With the stock already up 63% in 2024 alone – is it too late to get in? | One legendary stockpicker – with 50 years' experience on Wall Street – just gave his answer, here. | - sponsored message - |
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| | M+A | Investments | Caesars sells World Series of Poker to online gambling operator for $500M (more) CD&R explores sale of American Greetings (more) Occidental closes $12B CrownRock deal (more) R1 to go private in $8.9B deal with TowerBrook, CD&R (more) Altice sells Teads to Outbrain in $1 Billion ad tech deal (more) Hedge fund tycoon Marshall closes in on deal for Spectator (more) Boost Insurance Holdings, Inc., an infrastructure platform for MGAs, brokers, agents, and insurance providers, secured an equity investment from BHMS Investments (more)
| VC | Outpace Bio, a cell therapy company using AI-powered protein design to program immune cells for improved function inside patients battling solid tumors, raised $144M in Series B financing (more) Agrovision, a healthy superfruit platform, raised $100M in equity financing at over $1 Billion valuation (more) Thumbtack, a tech company enabling people to improve their homes, received $75M in financing (more) Protect AI, an AI and machine learning security company, raised $60M in Series B funding (more) TS Conductor, a manufacturer of advanced electric power lines, closed a $60M growth funding round (more) Ema, a gen AI company creating the universal employee of the future, added $36M to its Series A funding which now totals $50M (more) Mindera Health, Inc., a company developing next-gen medical tech to enable skin analytics at the molecular level, closed $14M financing (more) Sybill, an AI assistant for sales teams, raised $11M in Series A funding (more) Athena Security, a leader in concealed weapons detection system software, closed a $10M seed funding round (more) Tezi, an autonomous AI recruiter, raised $9M in seed funding (more) Bee, an AI developer of a wearable assistant, raised $7M in seed funding (more) Sora Fuel, a startup producing sustainable aviation fuel using water, air and renewable energy, raised $6M in seed funding (more) When, an AI offboarding solution to help employees navigate post-employment transitions by offering more affordable alternatives to COBRA, closed a Seed funding round of $4.6M (more) SafeGuard Privacy, a SaaS compliance platform allowing platforms to comply with global privacy laws, closed a $3.6M funding round (more) Mintify, builder of an NFT order book, raised $3.4M in funding (more) Streamkap, a real-time data exchange to sync data between systems and companies, raised $3.3M in seed and pre-seed funding (more) PortfolioPilot.com, an AI-driven financial advisory platform from Global Predictions, closed a $2M seed funding round (more)
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| | | MicroStrategy posts oss after writedown of Bitcoin cache (more) Ripple to allocate $10M to tokenized US T-bills on XRP ledger (more) Bitcoin indicator forewarning late 2023 volatility explosion lights up again (more)
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| | | | | | | | DAILY SHARE |  | TrendSpider @TrendSpider |  |
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Sellers have that Goggins-level stamina this time around. 🥵 $QQQ |  | | | 3:00 AM • Aug 2, 2024 | | | | | | 175 Likes 8 Retweets | 15 Replies |
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|  | Dr. Parik Patel, BA, CFA, ACCA Esq. @ParikPatelCFA | |
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Intel stock is now the same price as it was in 1997 | | | 12:47 AM • Aug 2, 2024 | | | | | | 613 Likes 31 Retweets | 59 Replies |
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|  | wallstreetbets @wallstreetbets | |
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loaded up on the dip now we wait, pre-rich |  | | | 10:49 PM • Aug 1, 2024 | | | | | | 2.34K Likes 253 Retweets | 220 Replies |
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| | wallstreetbets @wallstreetbets | |
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Bidenomics |  | | | 1:03 AM • Aug 2, 2024 | | | | | | 681 Likes 86 Retweets | 142 Replies |
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