Good morning. Happy Friday.
The Asian/Pacific markets posted solid gains. Japan, China, Hong Kong, South Korea and Taiwan led the way. Europe, Africa and the Middle East lean to the downside but are mostly quiet. Poland is up, but the UK, Denmark, Switzerland, the Netherlands and the Czech Republic are down. Futures in the States point towards a mixed and flat open for the cash market.
————— VIDEO: Weekly Charts Continue to Suggest the Market has Changed —————
The dollar is up slightly. Oil is unchanged; copper is up. Gold and silver are up. Bonds are down.
Stories/News from Seeking Alpha…
Run, bull, run
It’s official! The S&P 500’s (SP500) longest bear market since the 1940s has come to an end. The benchmark index closed up 0.6% to 4,294 on Thursday, vaulting it back into bull territory with a 20% advance from its October low. The rally has been powered, in large part, because of a handful of companies posting outsized gains, like Big Tech, Tesla (TSLA) and AI darling Nvidia (NVDA). There has also been somewhat of a resurgence in economic optimism, compared to the sentiment that plagued the market in 2022.
Snapshot: Going into the year, recession talk had been everywhere, though much of the hard landing fears have failed (so far) to materialize. The economy may be cooling down just enough, and despite the uncertainty out there, inflation remains far from its peak last summer and jobs numbers continuously surprise to the upside. A debt ceiling showdown has also been moved off the table, while things are looking brighter at the Federal Reserve in terms of less-restrictive monetary policy.
Speaking of the Fed, the central bank has been in a blackout period this week ahead of the FOMC meeting scheduled for June 13-14. Surprise hikes by the Australian and Canadian central banks have led to some slight revisions, but there is still a 77% probability the Fed will hold rates next week, according to the CME FedWatch Tool. Rate increases might resume again in July, though there is an overall feeling that the FOMC is near the end of its hiking agenda.
SA commentary: “It took weeks for the Bulls to finally make a run above 4,200, but it may only prove to be nothing more than a trap,” writes Mott Capital Management, cautioning that the stock market has “made a big mistake.” Investing Group Leader Lawrence Fuller counters by saying that while the “bull market has been led by the largest technology names so far, the breadth is starting to improve.” The S&P 500 had been in bear market territory for a total of 248 trading days, which is the longest run since the cycle that finished on May 15, 1948 (which lasted 484 days). (20 comments)
Trump indictment
Adding to the latest drama surrounding the 2024 presidential race, Donald Trump has been indicted on seven counts in a criminal case brought by the U.S. Justice Department, marking the first time a former president has faced federal charges. Trump was already indicted in a separate case back in April, though he has withstood many other controversies and probes, and could still run for president while indicted (and likely even if convicted). Digital World Acquisition Corp. (DWAC), the blank-check firm seeking to merge with Trump’s media company – that owns the TRUTH Social app – will be on watch today. Any big headlines surrounding Trump has generally led to movement, though the SPAC did receive a delisting notice last month from Nasdaq. (22 comments)
Project 92
Speaking of Twitter alternatives, Meta Platforms (META) has reportedly previewed its standalone app to employees that will directly compete with Elon Musk-owned platform. The new app, internally codenamed “Project 92,” will be launched through Instagram as soon as possible. “We’ve been hearing from creators and public figures who are interested in having a platform that is sanely run, that they believe they can trust and rely on for distribution,” said Chief Product Officer Chris Cox. Some celebrities have already committed to using the app, including DJ Slime, while Meta is also in talks with other public figures including Oprah Winfrey and the Dalai Lama. (17 comments)
Charging up
EVs made by General Motors (GM) will be able to use Tesla’s (TSLA) charging network from next year, expanding the Detroit automaker’s access to 12,000 Superchargers. While the deal will initially require the use of an adapter, GM will integrate Tesla’s North American Charging Standard connector design into its vehicles in 2025. The development follows a similar deal last month between Ford (F) and Tesla, and will likely see the latter’s design become the industry standard in the U.S. SA analyst Dair Sansyzbayev still raised concerns over GM’s market presence, saying the carmaker “is weakly positioned to face the unfavorable secular trend of rapid EV adoption.” (59 comments)
Today’s Economic Calendar
10:00 Quarterly Services Survey
1:00 PM Baker Hughes Rig Count
What else is happening…
Meta’s (META) Zuckerberg unfazed by Apple’s (AAPL) AR/VR headset.
Google (GOOG, GOOGL) sets News Showcase U.S. launch for summer.
Why did Carvana (CVNA) surge? Optimistic outlook sparks a squeeze.
Moody’s revises Coinbase (COIN) outlook to negative after SEC charges.
Tesla (TSLA) rallies again as Spain joins the Gigafactory target list.
DocuSign (DOCU) rises on double-digit revenue gain, boosted cash flows.
Goldman initiates five utilities at Buy, calls them ‘decarbonization enablers’.
Signet Jewelers (SIG) slides after slashing its guidance for the year ahead.
White House mulls options for potential loss on student loan forgiveness.
AstraZeneca (AZN), Sanofi (SNY) get FDA panel nod for RSV therapy.
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Good morning. Happy Thursday.
The Asian/Pacific markets were mixed. China, Hong Kong, Indonesia and Thailand did well; Japan, India and Taiwan were weak. Europe, Africa and the Middle East lean to the upside but are mostly quiet. Spain, Italy, Portugal, Israel and Austria are leading while Turkey is weak. Futures in the States point towards a positive open for the cash market.
————— VIDEO: Weekly Charts Continue to Suggest the Market has Changed —————
The dollar is down. Oil is up; copper is down. Gold and silver are up. Bonds are down.
Stories/News from Seeking Alpha…
Smoke alarm
Smoke from hundreds of wildfires blazing across the now Great Orange North is blanketing the eastern United States with harmful air, as high winds take the plumes over the border. At the current pace, government officials have said that Canada is on track to experience the worst wildfire season in its recorded history, with 9.4M acres already burned (or around 15x the 10-year average). Critical infrastructure like telecommunication and high voltage power lines are on watch, while authorities have warned that everyone, especially vulnerable people, should stay inside as much as possible.
Atlantic Seaboard: Wildfires out in Canada’s western provinces usually impact oil and gas production, but the blazes in the East have forced mining firms like Wallbridge (OTCQX:WLBMF), Osisko (OTCPK:OBNNF) and Patriot Battery Metals (OTCQX:PMETF) to suspend operations. It’s also derailing activity down the U.S. East Coast, in areas such as New York, which recorded the worst air quality of any city in the world on Wednesday. The polluted haze even halted flights at LaGuardia, postponed MLB games and Broadway shows, altered school schedules, and prompted companies like Google (GOOG, GOOGL) to issue work-from-home orders.
“We have already deployed over 600 U.S. firefighters and personnel, as well as equipment like water bombers to help Canada battle the fires,” Press Secretary Karine Jean-Pierre said at a briefing. “We encourage everyone in the impacted areas to listen to their state and local officials. Check in on your neighbors, check in on your friends and your family. Take precautions, especially if you have health conditions.”
Outlook: The situation may put a spotlight on climate investing, though others say the bigger problem has to do with forest management. “In 2022, global investment in energy-transition products and services, such as renewable energy, electric vehicles, energy efficiency, and hydrogen, reached a record $1.1T, a 31% increase from the prior year,” AllianceBernstein wrote in SA article Homing In On Quality In Climate Investing Strategies. With regards to the current wildfire situation, smoke and unhealthy air quality are expected to be present in the Northeast through the weekend – until wind patterns shift or the weather changes. (3 comments)
The Fed is watching
It’s not so easy to shift back to easy monetary policy, or to at least put things on pause. The Bank of Canada unexpectedly raised its key policy rate by 25 basis points to 4.75% on Wednesday, after holding it steady for two straight meetings, as underlying inflation remained “stubbornly high.” Amid signals that rate hiking cycles likely are not ready to end, gold futures sank to their lowest levels since March, with U.S. Treasury yields settling at their highest point of the month. Investors are also watching the Treasury’s next move to refill its account, with a series of auctions set for today, which has been said could lead to a “potent liquidity squeeze.” (11 comments)
Commercial warning
More bank difficulties could lie ahead, according to Treasury Secretary Janet Yellen, who cautioned that lenders may feel pressure from the weakening commercial real estate market. “Demand for office space since we’ve seen such a big change in attitudes toward remote work has changed and especially in an environment of higher interest rates,” she declared. However, Yellen believes banks should be able to handle the pressure despite near-term pain, adding that stress tests show they have enough capital to weather any commercial property fallout. Earlier, Berkshire Hathaway (BRK.A, BRK.B) Vice Chairman Charlie Munger sounded the alarm on the sector, given banks’ vast portfolios of “bad” commercial property loans. (7 comments)
AI snapshot
Citadel CEO Ken Griffin believes generative AI will be transformative one day, but the hype around the technology’s near-term implications is overblown. Echoing the opinion is billionaire investor Stan Druckenmiller, who plans to own Nvidia (NVDA) for years given its AI outlook. “I do believe, unlike crypto, AI is real. It could be as transformative as the internet,” he told the Bloomberg Invest conference. Goldman Sachs also estimates that widespread AI adoption will boost companies’ productivity by 1.5 percentage points over the next 10 years. (78 comments)
Today’s Economic Calendar
8:30 Initial Jobless Claims
10:00 Wholesale Inventories (Preliminary)
10:30 EIA Natural Gas Inventory
4:30 PM Fed Balance Sheet
What else is happening…
CNN chief Chris Licht ousted after growing discord at news network.
Shares of Icahn Enterprises (IEP) soar, gain most in more than a month.
Restaurant stocks could get jolted by Supreme Court’s student loan ruling.
GameStop (GME) stock slides after firing CEO, naming Ryan Cohen as chairman.
Coinbase (COIN) willing to take its fight with SEC to the Supreme Court, counsel says.
Affirm Holdings (AFRM) surges after Amazon (AMZN) Pay adds Adaptive Checkout.
Microsoft (MSFT) plans to offer OpenAI GPT models to U.S. federal agencies.
Google (GOOG), Salesforce (CRM) move to lure remote staff back to office.
Spirit Aero (SPR) jumps amid speculation regarding activist involvement.
Shares of Tesla (TSLA) hit yearly high in strong day for EV stocks.
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Good morning. Happy Wednesday.
The Asian/Pacific markets were mixed. Hong Kong, India, Taiwan and the Philippines did well Japan and New Zealand were weak. Europe, Africa and the Middle East are currently mostly up. Turkey, Russia, Greece, Norway, Spain, Israel and Sweden are leading, while Denmark is weak. Futures in the States point towards a positive open for the cash market.
————— Online Course: Jason Leavitt’s Masterclass in Trading —————
The dollar is down. Oil and copper are up. Gold and silver are down. Bonds are unchanged.
Stories/News from Seeking Alpha…
Clarity or confusion?
The Securities Exchange Commission is ramping up its crackdown on crypto, filing a lawsuit against Coinbase (NASDAQ:COIN) just a day after suing Binance. While the allegations are different – Coinbase centers around the registration of securities and market functions, while Binance includes fraud and efforts to evade – the two are similar in other ways. The cases should provide more clarity around crypto rules, as well as the scope and authority of regulators over crypto platforms.
Bigger picture: In the early innings of the crypto experiment or revolution (depending on who you ask), digital asset firms took a similar approach to traditional companies that make waves with innovation. In some respects, it was like the emergence of gig workers, or the gig economy, which steamrolled through tax and labor laws until things were eventually regulated. A similar view – that regulation would bend to innovation – was adopted early on in the crypto craze, but more recently it has become apparent that this is not going to happen.
“The investing public has the benefit of U.S. securities laws, crypto should be no different, and these platforms and intermediaries need to come into compliance,” SEC Chair Gary Gensler declared. “Frankly, the public should really be more careful… We don’t need more digital currency. We already have digital currency. It’s called the U.S. dollar. It’s called the euro or it’s called the yen, they’re all digital right now.”
Back in March, Coinbase received a Wells notice for a potential enforcement action from the SEC, though the company said the agency refused to respond to its proposals regarding registration. In April, Coinbase even sued the SEC seeking to force a response on its rulemaking petition, while the CFTC subsequently accused Binance of breaching certain trading and derivatives rules. The latest lawsuits cement regulators’ jurisdiction over the crypto industry using federal securities laws and investor protections, instead of an expansion of the rulebook or updated framework strongly sought out by crypto proponents.
Outlook: Investors sent shares of Coinbase (COIN) plunging 12% on Tuesday after considerable foreshadowing in the months prior. In the article, The Downtrend Could Be Stronger Than You Think, SA Investing Group Leader Danil Sereda called the extended slump – following the SEC enforcement action in March – and followed up with another piece Coinbase Stock: Don’t Fight The SEC at the beginning of May. Coinbase’s woes don’t end with legal trouble. The company recently reported its fifth consecutive quarterly loss, while suffering nearly $1.3B of net customer outflows following yesterday’s lawsuit. Overall, the stock is down 80% since its direct listing on the Nasdaq in April 2021. (8 comments)
Merger mulligan
Bringing an end to a bitter split in the golf world, the PGA Tour and upstart Saudi-backed rival LIV Golf have announced a merger to unify the sport and its players. Perhaps the most immediate commercial upshot of the deal is a boost to media coverage of the sport, with all its stars coming together as one. LIV Golf drew key players away from the PGA Tour, but then had serious trouble getting media organizations interested in paying it for its events: ESPN (NYSE:DIS), CBS (NASDAQ:PARA), NBC (NASDAQ:CMCSA) and Fox (FOX) all passed on covering the league, while some already had existing deals with the PGA Tour. Other broadcasters and golf-related stocks are also on watch. (132 comments)
Car thefts
New York City has joined other major U.S. cities in suing Hyundai Motor (OTCPK:HYMTF) and Kia (OTCPK:KIMTF). It alleges that the South Korean automakers were negligent and created a public nuisance by manufacturing vehicles “dangerously susceptible” to theft. The controversy surrounds immobilizers, and a failure to install them in their cars for much of the past decade. Around 977 Hyundai and Kia vehicles were reported stolen in NYC in the first four months of 2023, up ~660% when compared to the same period a year earlier. (9 comments)
Dam destruction
U.S. wheat futures in Chicago (W_1:COM) are on the move again amid fears of an escalation in the war in Ukraine. Torrents of water are flowing through a hole in the Russian-controlled Nova Kakhovka dam, which holds as much water as the Great Salt Lake in Utah, threatening hundreds of thousands of people with imminent flooding. Separately, Ukraine said an ammonia pipeline was damaged by Russian shelling in the Kharkiv region. The incidents add to wheat supply worries as dry weather occupies part of Europe and Russia, which helped lift U.S. and European futures earlier this week. (7 comments)
Today’s Economic Calendar
7:00 MBA Mortgage Applications
8:30 Goods and Services Trade
10:30 EIA Petroleum Inventories
3:00 PM Consumer Credit
What else is happening…
BlackRock: ‘We don’t see major central banks coming to the rescue’.
Goldman back to one-in-four chance of recession as SVB dust settles.
Boeing (BA) stock declines on delay in 787 Dreamliner airplane deliveries.
Ford (F) nears deal to sell its plant in Germany, Chinese automakers lead bids.
General Electric (GE) to sell stake in GE HealthCare (GEHC) valued at $2B.
Merck (MRK) sues U.S. government to halt Medicare drug pricing program.
Canopy Growth (CGC) booted from Canada’s S&P/TSX Composite Index.
Shopify (SHOP) stock jumps after closing sale of logistics unit to Flexport.
Apple (AAPL) acquires AR start-up Mira as it pushes new headset vision.
Tingo (TIO) plunges amid new short report from Hindenburg Research.
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Good morning. Happy Tuesday.
The Asian/Pacific markets leaned down. Japan did well, but China, Australia and the Philippines were weak. Europe, Africa and the Middle East currently lean down. Denmark and Greece are up, but Russia, Norway, the Netherlands, Israel and Austria are down. Futures in the States point towards a down open for the cash market.
————— Online Course: Jason Leavitt’s Masterclass in Trading —————
The dollar is up. Oil and copper are down. Gold and silver are up. Bonds are up.
Stories/News from Seeking Alpha…
Writer’s block
The drama in Hollywood is heating up just as there appeared to be a breakthrough for the creative industry. On Sunday, the Directors Guild of America inked a tentative three-year contract with major studios and streamers, though the Writers Guild of America and Screen Actors Guild are still holding out. In fact, the former has been on strike for six weeks, while the latter just authorized a potential strike if an agreement cannot be reached by June 30.
What are the fights about? At issue are wages and benefits, as well as royalty payments like global streaming residuals. Artificial intelligence is also at play, with the unions fighting for protections so that AI won’t replace its members. Writers additionally say that tech companies like Netflix (NFLX) are hiring for shorter stints and lower wages, which is hindering the creative process. It comes as many studios absorb heavy losses associated with streaming, making them think twice about their bottom line during the negotiations.
A walkout by the Writers Guild of America has already shut down the final season of Netflix’s Stranger Things, an HBO (WBD) prequel of Game of Thrones, and paused production on Disney’s (DIS) Thunderbolts and Blade. A strike by actors would trigger a broader shutdown across Hollywood, while ramping up pressure on companies that need to support their streaming services and TV programming schedules. Other studios involved include Amazon (AMZN), Apple (AAPL), NBCUniversal (CMCSA), Paramount (PARA) and Sony (SONY) – under the umbrella of the Alliance of Motion Picture and Television Producers.
What’s next? “For now, the studios/streamers aren’t in a rush to be flexible because the strike could eventually allow them to shed unprofitable long-term deals,” writes SA analyst The Entertainment Oracle, “but that’s also a dangerous long-term game.” If prolonged, studios could turn to reality or unscripted shows, and internationally produced content, but the financial impacts will eventually catch up. Moody’s has warned that an extended strike could hurt the credit ratings of “weakly positioned” media companies, while Paramount CEO Bob Bakish has said that the situation will “ultimately depend on the duration of the strike.” (16 comments)
Vision Pro
Apple (AAPL) unveiled its mixed-reality headset at its annual Worldwide Developers Conference on Monday, ushering in a new era of what CEO Tim Cook called “spatial computing.” Unlike joystick-powered rival devices like the Meta Quest (META), Apple’s headset relies on hand tracking, with the user gesturing in midair to control the interface. However, the new super-premium device was priced at $3,499, and the overwhelming majority of WSB subscribers feel that the product is too niche for the market, with the stock closing down 0.8% after hitting a new all-time high. As previously mentioned, SA analyst Ash Anderson said WWDC would likely be a “sell the news” event for Apple following its biggest product launch in nearly a decade. (608 comments)
In hot water
The SEC has sued cryptocurrency exchange Binance and its CEO Changpeng Zhao for allegedly violating U.S. securities regulations. The news pushed cryptocurrency prices lower, with Bitcoin (BTC-USD) down 3.8% at $25.78K today and ether (ETH-USD) 2.7% lower at $1.82K. Thirteen charges were filed against Binance and CZ, as he is known, including deceiving investors about the sufficiency of its systems to detect and control manipulative trading. The SEC also accused the platform of taking insufficient steps to prohibit U.S. investors from accessing its unregulated exchange. Binance is disputing the allegations, saying it is “disappointed” with the SEC suit and “will vigorously defend” its business. (45 comments)
Manufacturing boost
New plans from General Motors (GM) will see it invest more than $1B in two of its manufacturing sites in Flint Michigan. The investment will bolster the Detroit automaker’s U.S. manufacturing operations, which include more than 50 assembly, stamping, propulsion and component plants and parts distribution centers nationwide. It will also highlight the company’s commitment to continue providing customers a strong portfolio of ICE vehicles for years to come. The rapidly changing automotive market was recently discussed by SA analyst Manuel Paul Dipold, who takes a deeper dive into GM’s future and market share. (16 comments)
Today’s Economic Calendar
No events scheduled
What else is happening…
Supreme Court rejects oil firms’ challenge to California offshore fracking ban.
OPEC+ meeting failure? Saudi output cut fails to sustain oil price gains.
‘Forever chemicals’ trial delayed as 3M (MMM) negotiates a settlement.
Intel (INTC) to sell 35M Mobileye (MBLY) shares in secondary offering.
Taiwan Semiconductor (TSM) eyes 3%-6% price hikes starting 2024.
Apollo Global (APO) to invest $2B in AT&T’s (T) wireless carrier unit.
Bed Bath & Beyond (OTCPK:BBBYQ) eyes sale of Buybuy Baby.
Elon Musk’s Neuralink valued at $5B after private stock trades.
Spotify (SPOT) announces cuts at global podcast division.
Advertising watch: Twitter U.S. sales reportedly sink 59%.
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Good morning. Happy Monday. Hope you had a good weekend.
The Asian/Pacific markets leaned to the upside. Japan, Hong Kong, Austria and Singapore led, while China lagged. Europe, Africa and the Middle East are currently posting solid gains. The UK, Poland, Turkey, Norway, Hungary, Austria, Sweden and Saudi Arabi are up; South Africa is down. Futures in the States point towards a mixed and unchanged open for the cash market.
————— Online Course: Jason Leavitt’s Masterclass in Trading —————
The dollar is up. Oil is up; copper is flat. Gold and silver are down. Bonds are down.
Stories/News from Seeking Alpha…
iReality
Apple (NASDAQ:AAPL) is slated to host its Worldwide Developers Conference this week and all expectations are that the tech giant will finally take the wraps off its long-awaited mixed reality headset. The device, which has caused some recent press reports to question Apple’s strategy, is likely to be the tech giant’s first major product expansion in years, following the 2015 unveiling of the Apple Watch. While the Cupertino, California-based company is likely “well prepared” to bring the device to market, additional time may be given to developers to build apps and features for it.
The leaks: The headset, which could cost as much as $3,000, is likely to be called the Reality Pro or XR Pro, with a new operating system called xrOS. It’s expected to launch with both augmented and virtual reality technologies (with an option to switch modes) and have a lightweight design similar to ski goggles. The device also comes with an external battery that can be worn on a person’s body, incorporates Apple’s processors and Siri, and may even feature an external screen and several external cameras.
Chief Executive Officer Tim Cook said “Yes” to the headset because he believes the long-term survival of the company depends on it, writes Investing Group Leader Trading Places Research. While SA analyst Ash Anderson takes a similar angle, he predicts WWDC might be a “sell the news” event for the tech giant. Today’s keynote is scheduled for 1 PM ET, though the annual developer conference is slated to run from June 5 to June 9.
What else to watch: The headset is likely to focus on communication and video, as well as wellness and gaming, but Apple (AAPL) has a number of other announcements in the works. The company is likely to reveal new MacBooks at the event, perhaps showing off a new 15-inch MacBook Air. In addition, Apple is slated to unveil updates to its various operating systems – iOS, iPadOS, macOS, watchOS and tvOS. (65 comments)
OPEC+ takeaways
Previously warning speculators to “watch out,” Saudi Arabia has gone through with additional voluntary cuts of 1M bbl/day of crude oil starting in July. The move would come on top of the 500K bbl/day voluntary cut announced in April, reducing total Saudi production to 9M bbl/day and marking its lowest output level since June 2021. WTI crude futures (CL1:COM) initially rose about 1% to $73/bbl on the news, though the rest of the OPEC+ group confirmed it would keep official production targets unchanged for 2023 and limit combined oil output from January-December 2024. The UAE will get to boost its production next year, coming at the expense of African members who were asked to give up part of their unused quotas. (248 comments)
System resilience
Large U.S. lenders like Morgan Stanley (NYSE:MS) may soon face revised capital rules following the collapse of smaller regional players earlier this year. Overall capital requirements could be raised by about 20% at institutions with at least $100B in assets, compared to the current $250B threshold that regulators currently reserve for their toughest rules. Credit card giants that are heavily dependent on fee income could also be impacted, as well as those involved in investment banking and wealth management. Michael Barr, the Fed’s vice chair of supervision, previously hinted at tougher rules in a Congressional hearing last month, while the central bank has also admitted that its supervisors didn’t fully appreciate the extent of the vulnerabilities. (31 comments)
Part 2
While the debt ceiling drama that could have put the U.S. in default is now in the rearview mirror, the aftermath could still spell trouble. The Treasury’s next move will be to refill the Treasury General Account, or TGA, at the New York Fed, which could lead to a “potent liquidity squeeze.” At the same time, the Fed’s quantitative tightening, or QT, will go from having no impact so far this year to a big bite. Taken together, the replenishing process could profoundly impact stocks, the economy and even GDP. (48 comments)
Today’s Economic Calendar
9:45 PMI Composite Final
10:00 Factory Orders
10:00 ISM Service Index
12:30 PM Investor Movement Index
What else is happening…
Fitch keeps U.S. on Rating Watch Negative despite debt ceiling deal.
Energy industry says the bill doesn’t include enough permitting.
Disney (DIS) taking $1.5B charge tied to pulling streaming content.
Restaurant chain Cava (CAVA) set to start IPO roadshow this week.
NVO and LLY facing increased competition in obesity drug market.
Mixed jobs report doesn’t make Fed rate decision any easier.
Real estate investors buy 49% Y/Y fewer homes in Q1 – Redfin.
YouTube (GOOGL) to allow claims of fraud about past elections.
Sony (SONY) CEO downplays cloud gaming risks on console market.
Walmart (WMT) talks AI and international growth at annual meeting.
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