| Good morning. | The Fast Five → Goldman, Evercore up S&P target to 6,000, people warming to idea of AI money management, retail stocks search for direction, executive pay rises at fastest rate in 14 years, and Gates is ready to put billions into nuclear power… | Calendar: (all times ET) | TUE, 6/18: | US retail sales, 8:30a | THU, 6/20: | Initial jobless claims, 8:30a | FRI, 6/21: | Existing home sales, 10:00a |
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| | Your 5-minute briefing for Monday, June 17: | | BEFORE THE OPEN |  | As of market close 6/14/2024. Bitcoin as of 6/16/2024. |
| Pre-Market: | | |
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| US Investor % Bullish Sentiment:
￪ 44.59% for Wk of June 13 2024 (Last week: 38.97%) |
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| | | Market Recap: | Stock futures flat ahead of holiday-shortened week. Dow futures near flat, S&P 500 up 0.03%, Nasdaq 100 up 0.1%. Last week: Dow down 57 points, S&P down 0.04%, Nasdaq up 0.12%. Mixed averages: Dow down 3 of 4 weeks; S&P, Nasdaq up 7 of 8. Markets closed Wednesday for Juneteenth. Investors watch May retail sales Tuesday, home sales, housing starts. Earnings: Lennar, Kroger, Darden Restaurants, CarMax.
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| | | Here's what we're watching this week: | | Full earnings calendar here. | |
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| | | |  | Emanuel's previous target was among the lowest on Wall Street. Strategist sees cooling inflation, AI hopes pushing S&P higher. |
| |  | A clear majority of younger Americans are embracing artificial intelligence as a way to help them achieve their financial goals, according to data released this week by Northwestern Mutual. |
| Retail stocks search for direction as rates stay high (more) Goldman boosts S&P 500 target on profit outlook (more) Oil prices inch down on weaker US consumer demand (more) Asia shares muted on mixed China data, euro pressure (more) China cbank leaves key policy rate unchanged as expected (more) Emerging-market bond rally threatened as hawkish flags multiply (more) TSMC arbitrage trade of buying Taiwan stock, shorting US shares backfires (more) US executive pay rises at fastest rate in 14 years (more) Bill Gates says he's ready to put billions into nuclear power (more) Boeing tells suppliers it is slowing 737 output goal by 3 months (more) OpenAI CEO says company could become for-profit corporation (more) Apple's slow rollout of intelligence features will stretch into 2025 (more) McDonald's says it will no longer use its drive-thru AI (more) Adidas is investigating bribery allegations in China (more)
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| | M+A | Investments | Fisher wells stake of up to $3 bln to Advent, Abu Dhabi Fund (more) Carlyle explores sale of electric power producer Cogentrix (more) Paytm in talks with Zomato to sell movie ticketing business (more) Phillips 66 to sell 25% stake in Rockies Pipeline for $1.28B (more) GenNx360-backed GenServe buys Electro-Motion (more) E78 Partners purchases The Avail Group (more) Stake, a loyalty company for the rental economy, acquired Circa, a rent payments company, for $9.5M (more) NetSPI, a security solutions provider, acquired Hubble Technology Inc., a cybersecurity management solution (more) Clearhaven Partners, a software private equity firm, acquired Zixi, a cloud based and on-premises software-defined video platform (more)
| VC | InduPro, a biotech company developing treatment of cancer and autoimmune diseases, raised $85M in Series A funding (more) Enveda Biosciences, a biotech company using AI to translate nature into new medicines, raised a new financing round of $55M to add to its $119M combined Series B and B1 (more) Aepnus Technology, an electrochemical platform to reduce emissions in battery supply chain chemicals, raised $8M in Seed funding (more) Roamless, a travel connectivity startup, raised $5M in seed funding (more) InScope, an AI powered fintech startup, raised $4.3M in seed funding (more) Nada, an investment tech platform bridging homeowners and investors, secured a seed extension funding of undisclosed amount (more)
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| | | Bitcoin plunges to $65K, altcoins bleed 10%-20% as week turns ugly (more) Crypto titans' $160M war chest threatens Senate democrats (more) Advisors 'wary' of bitcoin ETFs are on a slow adoption journey, says BlackRock exec (more) First Bitcoin ETF to list on Australia's Bourse in global wave (more)
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| | | | | | | | | DAILY SHARE |  | Douglas A. Boneparth @dougboneparth |  |
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Wife: What do you want to do for Father's Day? Me: Just drop me off at The Home Depot so I can play with all the other dads. | | | Jun 16, 2024 | | | | | | 1.16K Likes 45 Retweets 56 Replies |
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|  | Trung Phan @TrungTPhan | |
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Reminder to greet your old man for Father's Day |  | | | Jun 16, 2024 | | | | | | 520 Likes 32 Retweets 21 Replies |
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|  | Fight With Memes @fightwithmemes | |
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My grocery bill confirms. |  | | | Jun 16, 2024 | | | | | | 260 Likes 38 Retweets 3 Replies |
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| What did you think about today's briefing? | |
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