💼 Next big industry

PLUS - China buying gold like there’s no tomorrow -your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 May 06, 2024 | [Read Online]( First time here? [Sign up]([»]( Good morning. The Fast Five → [China is buying gold]( like there’s no tomorrow, Buffett talks [succession plan]( at annual meeting - says AI scamming will be the next big ‘[growth industry](’ (full recap [here](), UAW workers ratify labor deal with [Daimler Truck](, and [Sony and Apollo]( officially in talks to acquire Paramount… Calendar: (all times ET) TUE, 5/7: Consumer credit, 3:00p WED, 5/8: Wholesale inventories, 10:00a THU, 5/9: Initial jobless claims, 8:30a FRI, 510: Consumer sentiment, 10:00a Your 5-minute briefing for Monday, May 6: BEFORE THE OPEN As of market close 5/3/2024. Bitcoin as of 5/5/24. Pre-Market: US Investor % Bullish Sentiment: 38.49% for Wk of Apr 25 2024 (Last week: 32.13%) Market Recap: - Stocks surged Friday on soft April jobs report, boosting rate cut hopes. - Dow up 1.18%, S&P 1.26%, Nasdaq 1.99%. - Weekly gains: Dow 1.14%, Nasdaq 1.43%, S&P 0.55%. - April nonfarm payrolls missed at 175K jobs, unemployment at 3.9%. - Weaker job growth prompts expectations of second rate cut. - 10-year Treasury yield briefly below 4.5%, lifting tech stocks. - Apple up nearly 6% on share buyback, earnings beat. - Amgen soars nearly 12% on strong earnings, positive drug update. EARNINGS What we’re watching this week: - Monday: Palantir Technologies ([PLTR](), Tyson Foods ([TSN]() - Tuesday: Robot ([IRBT](), Lyft ([LYFT](), Twilio ([TWLO](), ZoomInfo ([ZI]() - [Walt Disney (DIS)]( - expect $1.10 EPS (+18.3% YoY), on $22.1B revenue (+1.4% YoY) - [Reddit (RDDT)]( - expect $8.71 EPS loss on $212.8M revenue - Wednesday: Airbnb ([ABNB](), AMC Entertainment ([AMC](), Anheuser-Busch ([BUD](), Duolingo ([DUOL](), Instacart ([CART](), Klaviyo ([KVYO](), News Corp ([NWSA](), Robinhood ([HOOD](), Uber Technologies ([UBER]() - [Arm Holdings (ARM)]( - expect revenue improvement of +6.6% to $878.2M and +$.30 EPS - Thursday: Roblox ([RBLX](), Tapestry ([TPR](), Warner Bros. Discovery ([WBD]() Full earnings calendar [here]( HEADLINES [China Is Buying Gold Like There’s No Tomorrow]( The global price of gold has reached its highest levels as Chinese investors and consumers, wary of real estate and stocks, buy the metal at a record pace. [Buffett Talks Succession Plan at Annual Meeting]( Buffett said he would support Berkshire Hathaway trusting Greg Abel, his designated successor as CEO, handling investment allocations. - April US jobs report shows looser labor market, good news for Fed ([more]() - Treasury rally risks running into a $125B brick wall ([more]() - Dollar steady after soft US jobs report; yen starts week on back foot ([more]() - Oil advances after weekly slump as Saudi Arabia jacks up prices ([more]() - China stocks to play catchup as Asia opens higher ([more]() - EU targets Chinese EVs ahead of Xi Jinping’s visit ([more]() - Zero-day options boom will only grow even as some investors fear disaster ([more]() - Full recap of Buffett’s comments at Berkshire annual meeting ([more]() - Buffett praised Apple after trimming, drops Paramount stake ([more]() - Warren Buffett says AI scamming will be the next big ‘growth industry’ ([more]() - Sony and Apollo officially in talks to acquire Paramount ([more]() - UAW workers ratify US labor deal with Daimler Truck ([more]() DEALFLOW M+A | Investments - Paramount will let exclusive talks with Skydance lapse ([more]() - FTC seeks more info on Novo Nordisk parent-Catalent deal ([more]() - Jaguar Growth Partners acquires Multi Property Residential Platform in NYC ([more]() - Trinity Hunt-backed Dataprise buys Hooks Systems ([more]() - Kelly purchases MRP from Littlejohn ([more]() - Danone acquires Functional Formularies from Swander Pace ([more]() - Emerald purchases Optimum Design Associates ([more]() - EnviroSpark, an EV charging company, received a $50M investment from Basalt Infrastructure Partners ([more]() - Rosemont invests in Northside Capital Management ([more]() - Wynnchurch Capital invests in Reagent Chemical & Research ([more]() VC - Latus Bio, a biotech company developing novel gene therapy candidates for disorders of the central nervous system (CNS), raised $54M in Series A funding ([more]() - Lamini, a startup that is building a platform to help enterprises deploy generative AI applications, raised $25M in seed and Series A funding ([more]() - Volta, a digital asset company providing Volta Circuit, a multi-signature, non-custodial platform, raised $4.1M in Seed funding ([more]() - SoBet, provider of a sports betting creator platform, raised $3.7M in initial funding ([more]() Any news or data you wish was included in your briefing? …just hit reply and tell us! CRYPTO - Bitcoin hits $62K as cryptos bounce; expect a 'slow grind higher,' Arthur Hayes says ([more]() - Grayscale's Bitcoin ETF sees first inflow after billions lost since January ([more]() - Friend.tech social-media platform’s token tumbles 98% after debut ([more]() - Lamborghini bros no more: Crypto is creating a new wealth effect ([more]() BULLISH BITES 💊 Future: Generative AI will be designing new drugs [all on its own]( in the near future. 👔. Updated fashion tips for "[finance bros](." 🎓 Class of ‘24: The [bummer]( generation - the most disruptive and unconventional college experiences in modern history. 🤖 New normal? The teens [making friends]( with AI chatbots. 💤 Sleep deprived? Try [Sleep Baseball]( - no yelling, no loud commercials - it’s "baseball radio ASMR". DAILY SHARES [tw profile: Autism Capital 🧩] Autism Capital 🧩 @AutismCapital [tw] “Call in the hit squad.” May 6, 2024 89 Likes 6 Retweets 9 Replies What did you think about today's briefing? - [⭐️⭐️⭐️⭐️⭐️ Excellent, keep it comin'!]( - [⭐️⭐️⭐️⭐️ Good stuff]( - [⭐️⭐️⭐️ It was alright]( - [⭐️ Needs work]( Have a comment or suggestion? 💌 [Send us a message](mailto:feedback@marketbriefing.com) [ADVERTISE]( | [SUBSCRIBE]( *from our partners Disclaimer: Market Briefing© is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. Please conduct your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Market Briefing team. [tw]( Update your email preferences or unsubscribe [here]( © 2024 Market Briefing 99 Wall St, Ste 314 New York, NY 10005, United States of America [[beehiiv logo]Powered by beehiiv](