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| | Good morning. | The Fast Five → | , India's stock markets erase $371 billion in a single day, Amazon's first US labor union affiliates with Teamsters, Tesla plans to spend $3-$4 billion on Nvidia hardware this year, and E*Trade spurs backlash for threatening to oust 'Roaring Kitty' off platform… | | | Calendar: (all times ET) | Today: | US trade deficit, 8:30a | THU, 6/6: | Initial jobless claims, 8:30a | FRI, 6/7: | Unemployment rate, 8:30a |
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| | Your 5-minute briefing for Wednesday, June 5: | | BEFORE THE OPEN |  | As of market close 6/4/2024. |
| Pre-Market: | | |
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| US Investor % Bullish Sentiment:
↓ 39.04% for Wk of May 30 2024 (Last week: 47.04%). |
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| | | Market Recap: | Stock futures near flat Tuesday night. Dow futures up 49 points (0.1%), S&P, Nasdaq up 0.1%. HPE up 16% on strong earnings, CrowdStrike up 7%. Dow gained 140 points, S&P 500, Nasdaq up 0.2%. JOLTS: 8.059M vacancies in April, lowest in 3 years. ADP jobs data, expected 175,000 jobs in May. Key data today: services/nonmanufacturing Dollar Tree, Lululemon earnings coming up.
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| | | What we're watching this week: | Today: Campbell Soup (CPB), ChargePoint (CHPT), Dollar Tree (DLTR), Five Below (FIVE), Victoria's Secret (VSCO) Thursday: Big Lots (BIG), DocuSugn (DOCU), Nio (NIO)
| Full earnings calendar here. |
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| | | |  | The All India Market Capitalization index, tracked on the Bombay Stock index, dropped over $371 billion on June 4 alone. |
| |  | TXSE Chairman and CEO James Lee said the Dallas-headquartered group has raised $120 million with the support of more than two dozen investors. |
| US job openings drop in April, as labor market normalizes (more) House lawmakers seek access to full Boeing quality plan (more) Bond traders pile into fresh bets on faster pace of Fed cuts (more) Dollar drifts higher from multi-month lows; yen gains (more) Gold falls, moving in line with bearish technicals as Dollar recovers (more) Poll: No relief for emerging currencies seen as investors ponder elections (more) India election results give relief to nervous Modi bulls (more) Nippon exec warns of "nightmare" scenario for a solo US Steel (more) Chinese spies are targeting disgruntled workers within US companies (more) Amazon's first labor union moves to affiliate with Teamsters (more) E*Trade possibly ousting GameStop bull 'Roaring Kitty' spurs online backlash (more) Tesla likely to spend $3-$4 billion on Nvidia hardware this year (more) Warner Bros. Discovery hikes prices for Max streaming service (more) Private equity says it's got the data to back a push into sports (more) Diamond industry 'in trouble' as lab-grown gemstones tank prices further (more)
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| | | Put your money to work in a high-yield cash account with up to $2M in FDIC† insurance through program banks. | Get started today, with as little as $10. | | | M+A | Investments | Intel agrees to sell 49% of factory to Apollo for $11B (more) CoreWeave offers $1 billion for Core Scientific (more) Blackstone bets on UK rental homes in $740M deal (more) UST, a digital solutions company, acquired Endeavor Consulting Group, a global player in supply chain management and product commercialization consulting (more) Deloitte acquired all of the assets of End Point's disease surveillance company CasePointer (more) Seedtag, a contextual advertising company, acquired Beachfront, provider of a sell-side ad platform built for CTV and streaming (more) ITCM, a technology solution provider, acquired Value Logic, an IT managed service provider (more) Databricks, a data and AI company, acquired Tabular, a data management company (more) PE-backed RoadSafe acquires Site-Safe and IAS (more) Advent-backed Imperial Dade buys Regional Distributors (more) GreyLion-backed Trifecta Collective buys Transact (more) Consor Holdings, transportation and water infrastructure engineering and consulting services, received a Growth investment from New Mountain Capital (more) TA invests in Solarity, a provider of automated clinical data processing services for acute and ambulatory healthcare providers (more) L Squared invests in TeachTown (more) Trilantic North America invests in SOFIE Biosciences (more) aNexus Cognitive, an innovator in enterprise data & AI foundations, received an investment from Insight Partners (more)
| VC | Xcimer Energy, an inertial fusion company, raised $100M in Series A funding (more) The Desire Company, an expert product education company, closed its Series B funding round, increasing its valuation to $97M (more) Storyblok, a modern content management system for teams, raised $80M in Series C funding (more) ActuityMD, a technology partner to the commercial MedTech industry, raised $45M in Series B funding (more) WindBorne Systems, provider of an atmospheric sensing system and AI weather model, raised $15M in Series A funding (more) Stacklet, a leader in cloud governance and optimization as code, raised $14.5M in Series B funding (more) Axena Health, a medical device company focused on female pelvic health, closed on an additional $9.4M in its Series A funding (more) Raydiant Oximetry, a clinical-stage medical device company, raised $7.5M in Series A3 Extension funding (more) Mint Blockchain, an Ethereum L2 network for NFT industry, raised $5M in Seed funding (more) SciTech Development, a clinical-stage, specialty oncology pharmaceutical company, raised additional $3.2M in funding (more) Keragon, an AI-powered HIPAA-compliant automation platform for healthcare, raised $3M in funding (more) PrΓ³speros, a financial platform for the Spanish-speaking Western hemisphere, raised $3M in Seed funding (more) Thoughtly, a startup building AI voice agents for contact centers, raised $3M in Seed funding (more) CaseMark AI, a company specializing in legal generative AI workflows, raised $1.7M in Seed funding (more) Claroty, a cyber-physical systems protection company, raised a further growth funding of undisclosed amount (more)
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| | | Bitcoin sees profit-taking around $70K amid 'stubbornly bullish' sentiment (more) Hacked Japan exchange to raise About $320M to buy Bitcoin (more) Bain Capital Crypto raising second fund (more) Novogratz sees Bitcoin topping $100,000 if it regains March high (more)
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| | | π Performance: The companies driving The 2024 Midas List. | π€ Meme Mania: How Roaring Kitty's wealth went from $53K to nearly $300 million — and could one day top $1 billion. | π Savers: What is 'spaving' and how it could hurt your finances. | πΈ 'Rocket' Man: The multimillion-dollar scandal rocking pickleball. | π Tastemakers: Are wedding sneakers the ultimate power flex? |
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| | | | | | DAILY SHARE |  | Overheard on Wall Street @OHWallStreet |  |
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NYSE finding out about the TXSE | Bloomberg @business BlackRock, Citadel and other investors are backing an upstart Texas stock market to challenge the NYSE and Nasdaq |
|  | | | Jun 5, 2024 | | | | | | 27 Likes 1 Retweet 1 Reply |
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|  | wallstreetbets @wallstreetbets | |
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The government: |  | | | Jun 5, 2024 | | | | | | 2.19K Likes 393 Retweets 81 Replies |
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|  | TrendSpider @TrendSpider | |
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S&P 500 closes less than 1% from new all-time highs. $SPY Meanwhile, Fear & Greed: |  | | | Jun 4, 2024 | | | | | | 322 Likes 24 Retweets 24 Replies |
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| What did you think about today's briefing? | |
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