| Good morning. | The Fast Five → Goldman sees India's stocks, bonds and Rupee as top emerging market picks, Salesforce plunges 16% on first revenue miss in 18 years, Wall St shift to faster trade settlement smooth so far, US firms grow more pessimistic on economic outlook, and McDonald's exec says menu items costs 40% more than 2019. Full briefing ahead, but first… | 📈 Missed Bitcoin? Here's your shot at redemption.
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| | Your 5-minute briefing for Thursday, May 30: | | BEFORE THE OPEN |  | As of market close 5/29/2024. |
| Pre-Market: | | |
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| US Investor % Bullish Sentiment:
47.04% for Wk of May 23 2024 (Last week: 40.86%). |
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| | | Market Recap: | Nasdaq fell 0.6%, S&P -0.7%, Dow -1.1% Salesforce dropped 16% on revenue miss and weak guidance Over 400 S&P 500 stocks negative, all 11 sectors fell 10-year Treasury yield rose above 4.6% Focus: jobless claims, Q1 GDP second reading Earnings: Best Buy, Dollar General, Dell, Costco, Gap, Nordstrom
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| | | Here's what we're watching this week: | Today: Asana (ASAN), Best Buy (BBY), Birkenstock Holding (BIRK), Costco Wholesale (COST), Cracker Barrel (CBRL), Gap (GPS), Kohl's (KSS), Nordstrom (JWN), Ulta Beauty (ULTA)
| Full earnings calendar here |
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| | | |  | The company's earnings and revenue outlook for the second quarter also fell short of the Street's estimates, as did full-year revenue guidance. |
| |  | Come for the resilience, stay for the upside, say its analysts. Strength of domestic macro fundamentals to drive assets. |
| Indexes end lower amid rate concerns, higher bond yields (more) US firms more pessimistic on economic outlook, Fed survey shows (more) Wall St says shift to faster trade settlement smooth so far (more) Homeowners with ARM's are about to get whacked (more) Oil sinks as weak Treasury auction creates risk-off sentiment (more) Dimon says 'could be hell to pay' if private credit sours (more) McDonald's exec says average menu item costs 40% more than 2019 (more) Walgreens announces price cuts on 1,300 items amid ongoing consumer spending fatigue (more) Cadillac's new entry-level Optiq EV to start at $54K (more) Stellantis $25,000 Jeep EV coming to the US 'very soon' (more) Visa, Mastercard to pay $197M to settle consumer ATM fee lawsuit (more) Vox Media and The Atlantic sign content deals with OpenAI (more) GPT-4 is better than humans at financial forecasting (more) Nelson Peltz sells entire Disney stake weeks after losing proxy battle (more)
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| | | M+A | Investments | ConocoPhillips to buy Marathon Oil in $17B all-stock deal that bolsters shale assets (more) Double Eagle explores $6.5B sale of shale oil producer (more) Sony in talks to buy Queen's music catalog in potential $1 billion deal (more) BHP walks away from $49B pursuit of mining rival Anglo (more) Merck to buy startup EyeBio for up to $3 billion (more) Gol parent company starts talks with Azul for possible deal (more) TransDigm Group Inc., a producer and supplier of components for military aircraft, acquired Raptor Labs Holdco, a manufacturer of test and measurement solutions, for $655M (more) GTCR acquires Surmodics for $627M (more) KKR purchases minority equity interest in Labrador Island Link (more) Stout acquires HealthCare Appraisers (more) Hudson Glade purchases Quality First Home Improvement (more) Thyme Care, a value-based cancer care enabler, received an investment from Echo Health Ventures, and CVS Health Ventures (more) OpsMx, a provider of a platform offering visibility, control, and flexibility in managing software delivery, received an investment from CerraCap Ventures (more) Linden Capital Partners, a healthcare private equity firm, received a minority investment from Blue Owl's GP Strategic Capital platform and Lunate Capital via their joint venture (more)
| VC | Aperture Finance, a DeFi platform, raised an undisclosed amount in Series A funding, at $250M valuation (more) Solutions by Text, a platform for compliance-first messaging and payments, raised $110M in new growth financing (more) One Energy, an industrial power company and installer of on-site, wind energy in the US, raised $35+M in Series A funding (more) Gameto, a biotech company advancing treatment options in women's health, raised $33M in Series B funding (more) TraceAir, site intelligence software for homebuilders and land developers, raised $25M in Series B funding (more) Maven AGI, an AI customer support startup, raised $20M in Series A funding (more) Lucy Therapeutics, a biotech company, raised $12.5M in funding (more) Authentic, an insurtech startup for SaaS franchisors to offer affordable insurance policies to their SMB customers, raised $11M in Series A funding (more) GaiaNet, an AI infrastructure project that aims to decentralize current AI agent software, raised $10M in Seed funding (more) EverFence, a digital platform connecting homeowners and contractors, raised $7M in Series A funding (more) Matter Bio, a biotech company preserving genome integrity and extending healthy human lifespan, raised $7M in Seed funding (more) ZeroMark, a defense tech startup, raised $7M in Seed funding (more) Posterity Health, a center for male reproductive health, raised $6M in funding (more) SmartPM Technologies, Inc., automated project controls software for construction, raised $5.5M in Series A funding (more) Wavelogix, a proprietary IoT sensing and data analytics platform, received $3M in funding (more) Creator fintech Slingshot raises $2.2M (more)
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| | | BlackRock's $20B ETF is now the world's largest Bitcoin fund (more) Cathie Wood says Ether ETF filings were approved because crypto is an election issue (more) Hidden Road stops offering clients access to crypto venue Bybit (more) US Treasury describes NFTs as 'highly susceptible to use in fraud and scams' (more)
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| | | 🧐 Inside Look: Former OpenAI board member explains why CEO Sam Altman got fired before he was rehired. | 🤖 Next lLevel: Mistral releases Codestral, its first generative AI model for code. | 🚀 Act Fast: Gold's unstoppable rise and how you can benefit. * | ⚡️ Playbook: To those interested in fighting misinformation, "prebunking" is all the rage. | 🏠 On The Market: This $5.2M Illinois mansion starred in 'Home Alone.' |
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| | | | | | DAILY SHARE |  | Trung Phan @TrungTPhan |  |
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Nvidia |  | | | May 29, 2024 | | | | | | 3.45K Likes 196 Retweets 32 Replies |
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|  | High Yield Harry @HighyieldHarry | |
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These Salesforce numbers are the worst thing a Benioff has done since the Game of Thrones final season |  | | | May 30, 2024 | | | | | | 80 Likes 3 Retweets 2 Replies |
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|  | Ramp Capital @RampCapitalLLC | |
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💀 💀 💀 |  | | | May 29, 2024 | | | | | | 1.96K Likes 89 Retweets 16 Replies |
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|  | Not Jerome Powell @alifarhat79 | |
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We've gone full circle |  | | | May 30, 2024 | | | | | | 463 Likes 52 Retweets 35 Replies |
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| What did you think about today's briefing? | |
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