💼 Higher for longer

Powell signals rates will be higher for longer... your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 April 17, 2024 | [Read Online]( In partnership with First time here? [Sign up]([»]( Good morning. The Fast Five → [Powell signals]( rates will be higher for longer, the biggest Wall Street banks [book gain](, gold shining ‘[bright like a diamond](’, [DOJ sues]( Ticketmaster, Live Nation over ticketing monopoly, and [Bitcoin halving]( is likely this week… Calendar: (all times ET) THU, 4/18: Jobless claims, 8:30a Your 5-minute briefing for Wednesday, April 17: BEFORE THE OPEN As of market close 4/16/2024. Pre-Market: US Investor % Bullish Sentiment: 43.44% for Wk of Apr 11 2024 (Last week: 47.29%) Market Recap: - S&P 500 slips 0.21%, Nasdaq down 0.12%. - Dow rises 0.17%, breaking 6-day loss streak. - Fed Chair Powell hints at maintaining elevated rates amid inflation. - UnitedHealth boosts Dow with over 5% rally on strong Q1 revenue. - Morgan Stanley beats, up 2.5%; BofA falls 3.5%. - Early earnings: 80% of S&P 500 firms beat forecasts. - 2-year US Treasury yield briefly tops 5% post-Powell comments. - Dow's losing streak erases YTD gains, reversing from near 40,000 levels. EARNINGS What we’re watching this week: - Today: US Bancorp ([USB](), Discover Financial Services ([DFS]() - Thursday: Blackstone ([BX]() - [Netflix (NFLX)]( - expect NFLX to report Q1 earnings of $4.20 per share (+45.8% YoY) on revenue of $8.6 billion (+5.8% YoY) - Friday: American Express ([AXP]() - [Proctor & Gamble (PG)]( - earnings of $1.31 per share (-4.4% YoY) on revenue of $19.0 billion (-5.5% YoY) Full earnings calendar [here]( HEADLINES [Powell Signals Rates Will Be Higher for Longer]( If inflation persists, the Fed can keep rates steady for “as long as needed," he says. [The Biggest Wall Street Banks Book Gain]( Plain old trading picked up the slack at Wall Street banks. - Market fear signals are flashing red as stocks pull back from record highs ([more]() - Dollar steady, yen fragile after Fed comments dash rate cut bets ([more]() - Oil prices dip as demand concerns outweigh Middle East supply fears ([more]() - US to grow at double the rate of G7 peers this year, says IMF ([more]() - Biden admin partners with states to protect airline customers ([more]() - Gold is shining ‘bright like a diamond’ and could hit $3,000, says Citi ([more]() - US funding rates rise modestly on tax outflows, Treasury supply ([more]() - Bitcoin halving is likely this week ([more]() - DOJ to sue Ticketmaster, Live Nation for alleged monopoly over ticketing industry ([more]() - Boeing’s problems just cost United $200 million ([more]() - Trump Media shares plunge more than 14% on news Truth Social to launch TV streaming ([more]() - American Airlines pilots union sees 'significant spike' in safety-related issues ([more]() - Andreessen Horowitz raises $7.2 billion, a sign that tech startup market may be bouncing back ([more]() - Bid to bring private assets to masses fires up meme crowd ([more]() SPONSORED BY AI TOOL REPORT Learn AI in 5 Minutes a Day AI Tool Report is one of the fastest-growing and most respected newsletters in the world, with over 550,000 readers from companies like OpenAI, Nvidia, Meta, Microsoft, and more. 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[Sign up with 1-Click]( DEALFLOW M+A | Investments - Microsoft to invest $1.5B in Emirati AI firm G42 for minority stake ([more]() - International Paper agrees to buy DS Smith for $7.2B ([more]() - Permira considers sale of German chemicals firm CABB ([more]() - Amundi to merge unit with Victory Capital in US growth push ([more]() - Exyte, a company specializing in the design, engineering, and delivery of high-tech facilities, acquired Kinetics Group, a provider of installation services, equipment, and tech facility management ([more]() - Accenture Federal Services, is to acquire Cognosante, a provider of digital transformation and cloud modernization solutions for federal health, defense, intelligence, and civilian agencies ([more]() - BeyondTrust, a company specializing in intelligent identity, access security, acquired Entitle, a privilege management solution company ([more]() - BMC, a company specializing in software solutions for the autonomous digital enterprise, acquired Netreo, a provider of smart and secure IT network and application observability solutions ([more]() - Bernhard Capital’s department of energy services platform acquires SMSI ([more]() - Bluestar-backed Nova buys HyFuels ([more]() - Wynnchurch invests in Handgards ([more]() - Sunstone Partners invests in Accuhealth ([more]() - Apax acquires Zellis Group from Bain Capital ([more]() VC - Rivos, an RISC-V accelerated platform targeting data analytics and Gen AI, raised more than $250M in Series A-3 funding ([more]() - Upstage, an AI company specializing in large language models (LLMs) and Document AI, raised $72M in Series B funding ([more]() - Two Chairs, a behavioral health company, closed a $72M Series C equity and debt financing ([more]() - Bcomp, a provider of natural fiber composites for the mobility, recreational and mass transportation sectors, raised $40M in Series C funding ([more]() - CarNow, a provider of a live-data automotive technology platform, received a $40M loan from Runway Growth Capital ([more]() - Quilt, a smart home climate solution company, raised $33M in Series A funding ([more]() - Evergreen Theragnostics, a clinical-stage radiopharmaceutical company, raised $26M in funding ([more]() - Snappy, a provider of a gifting platform, raised $25M in Series D funding ([more]() - Loft Labs, a creator of vCluster and DevPod and provider of platform engineering building blocks, raised $24M in Series A funding ([more]() - LQDX, a developer of materials for advanced semiconductor manufacturing, raised $10M in Equity and Government funding ([more]() - RFX Solutions, a SaaS compliance software for healthcare facilities, raised $9M in Series A funding ([more]() - BreachRx, a provider of an intelligent incident response platform for the entire enterprise, closed a $6.5M seed funding round ([more]() - Take2 AI, a provider of an AI-powered job simulation platform for sales recruiting, raised $3M in Seed funding ([more]() First time reading? [Get tomorrow’s briefing here with one click »]( CRYPTO Powered by [MILKROAD]([Â]([- Get smarter about crypto in 5 min.]( - Bitcoin miners fall even as CEOs say they’re ready for halving ([more]() - Spot Bitcoin ETF hype dies down, normalcy sets in ([more]() - Barclays, Citi are among banks testing tokenized deposits in UK ([more]() - 'DePIN' is venture capitalists' latest crypto obsession ([more]() BULLISH BITES 📈 Curious: What if Fed rate hikes are actually sparking US [economic boom](? 🚀 Financial warfare? The [REAL]( reason gold prices are up.* 🐝 The buzz: [Airchat]( is Silicon Valley’s latest obsession. 🤖 In training: Is there enough text to feed the AI beast? [This Stanford study]( made headlines this week... 🎓 Survey says: [College costs]( the biggest barrier for most Americans. DAILY SHARES [tw profile: Elon Musk] Elon Musk @elonmusk [tw] Whoa, I just realized that raising a kid is basically 18 years of prompt engineering 🤯 Apr 16, 2024 128K Likes 10.4K Retweets 8.38K Replies [tw profile: Trung Phan] Trung Phan @TrungTPhan [tw] Red Lobster’s bankruptcy, explained Apr 16, 2024 281 Likes 29 Retweets 10 Replies [tw profile: Adam Singer] Adam Singer @AdamSinger [tw] You bastards unusual_whales @unusual_whales Seafood restaurant chain Red Lobster is considering a Chapter 11 bankruptcy filing, per Bloomberg. Apr 16, 2024 154 Likes 12 Retweets 10 Replies What did you think about today's briefing? - [⭐️⭐️⭐️⭐️⭐️ Excellent, keep it comin'!]( - [⭐️⭐️⭐️⭐️ Good stuff]( - [⭐️⭐️⭐️ It was alright]( - [⭐️ Needs work]( ☀️ Get your briefings before everyone else, [go PRO »]( Have a comment or suggestion? We’d love to hear it! 💌 [Send us a message](mailto:hello@marketbriefing.com) [ADVERTISE]( | [SUBSCRIBE]( *from our sponsors Disclaimer: Market Briefing© is a news publisher. 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