💼 T+1 trading starts today

Wall Street returns to T+1 stock trading after a century -your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 May 28, 2024 | [Read Online]( In partnership with First time here? [Sign up]([»]( Good morning. The Fast Five → Wall Street returns to [T+1 stock trading]( after a century, Elon’s [xAI raises $6B]( in race against ChatGPT, China creates largest-ever $47.5B [chip investment fund](, gold and silver poised to [resume uptrend](, and Alibaba's AliExpress signs [David Beckham]( as new brand ambassador… Calendar: (all times ET) Today: Consumer confidence, 10:00a THU, 5/30: Initial jobless claims, 8:30a FRI, 5/31: PCE Index, 8:30a Your 5-minute briefing for Tuesday, May 28: BEFORE THE OPEN As of market close 5/24/2024. Bitcoin as of 5/27/2024. Pre-Market: US Investor % Bullish Sentiment:  47.04% for Wk of May 23 2024 (Last week: 40.86%). Market Recap: - Stock futures up Monday night ahead of key inflation data. - Dow, S&P, Nasdaq 100 futures all slightly higher. - May ending strong: S&P up 5.3%, Nasdaq up 8%, Dow up 3.3%. - Concerns over consumer spending and strong economic data impact rate cut outlook. - Key earnings: Costco, Ulta Beauty. EARNINGS Here’s what we’re watching this week: - Wednesday: Abercrombie & Fitch ([ANF](), American Eagle Outfitters ([AEO](), Chewy ([CHWY](), HP ([HPQ]() - [Salesforce (CRM)]( - earnings to rise 40.2% (YoY) to $2.37 per share on $9.1 billion (+10.9% YoY) - Thursday: Asana ([ASAN](), Best Buy ([BBY](), Birkenstock Holding ([BIRK](), Costco Wholesale ([COST](), Cracker Barrel ([CBRL](), Gap ([GPS](), Kohl's ([KSS](), Nordstrom ([JWN](), Ulta Beauty ([ULTA]() - [Dell Technologies (DELL)]( - earnings of $1.26 per share (-3.8% YoY) on $21.7B revenue (+6.9% YoY) - [Dollar General (DG)]( - earnings of $1.57 per share (-32.9% YoY) on $9.9B (+6.5%) Full earnings calendar [here]( HEADLINES [Elon Musk’s xAI Raises $6B from Valor, a16z, and Sequoia]( xAI has raised $6 billion in a new funding round, it said today, as Musk shores up capital to aggressively compete with rivals including OpenAI, Microsoft, and Alphabet. [Wall Street Returns to T+1 Stock Trading After a Century]( Starting today, trades will settle in one day for the first time in 100 years. SEC sees potential for ‘short-term uptick’ in failed deals. - Dow Jones futures rise after holiday weekend ([more]() - Dollar bulls retreat as US economic print cools ([more]() - Gold and silver poised to resume uptrend after last week's correction ([more]() - Oil steadies as geopolitical tensions rise before OPEC+ meeting ([more]() - ECB ready to start cutting interest rates, chief economist says ([more]() - Macron renews calls to “buy European" in the face of US and China competition during visit to Germany ([more]() - Bank of Japan sees scope for gradually raising interest rates ([more]() - China creates its largest-ever chip investment fund to boost the domestic industry ([more]() - Amazon in talks with Italy to invest billions of euros in cloud plan ([more]() - Nvidia CEO Jensen Huang and US lawmakers are paying a visit to Taiwan ([more]() - China slams G-7 for 'hyping' overcapacity as trade tensions soar ([more]() - Alibaba's AliExpress recruits Beckham to 'score more' global sales ([more]() - AI is driving 'the next industrial revolution' - Wall St is cashing in ([more]() - Private credit lures $100B fund seeing sticky inflation ([more]() In partnership with Betterment Make your money rise and grind while you sit and chill, with the automated investing and savings app that makes it easy to be invested. [Learn more.]( DEALFLOW M+A | Investments - Jio Financial plans $4.33B deal with Reliance Retail ([more]() - AuditBoard, an audit, risk, compliance and ESG management platform, is acquired by Hg, an investor in compliance, risk and accounting software, valued at over $3 Billion ([more]() - Vedanta said to weigh $1 Billion share sale as soon as June ([more]() - ABN Amro buys German bank Hauck & Aufhäuser from China’s Fosun ([more]() - BP Southern Africa, Shell downstream to sell refinery assets ([more]() - Persimmon considers £1 Billion takeover bid for Cala ([more]() - KKR set for unconditional EU antitrust okay for Telecom Italia deal ([more]() - Coventry Building Society to buy Co-op Bank for $990M ([more]() - FileCloud, a content governance data company, acquired Signority, an e-Signature and document workflow platform ([more]() - LeadsOnline, a data, technology, and intelligence tools for law enforcement agencies, acquired Nighthawk.Cloud, an investigative data visualization and analysis ([more]() - SugarCRM, provider of an intelligence-driven sales automation platform, acquired sales-i, a revenue intelligence solution ([more]() - Aduro Advisors, a fund administrator to venture capital and private equity firms, has secured a strategic growth investment from Vitruvian Partners ([more]() VC - CBiGroup, a global financial services company for businesses, raised $15M in Series A funding ([more]() - Plume Network, a modular EVM Layer-2 built to bring any real-world asset on-chain, raised $10M in Seed funding ([more]() - ThinkLabs AI, a startup focused on developing technology to enhance grid planning, raised $5M in Seed funding ([more]() - OncoveryCare, a company providing whole-person care to cancer survivors, raised $4.5M in Seed funding ([more]() - TadHealth, a mental health platform, raised $1.6M in funding ([more]() CRYPTO - Crypto traders eye Ether record, rising volatility from US ETF hype ([more]() - SEC embrace of ether ETFs highlights cryptocurrency's shifting political fortunes ([more]() - Donald Trump promises to protect the future of Bitcoin and crypto in the US ([more]() - Ripio CEO sees crypto gaining corporate fans in Latin America ([more]() BULLISH BITES 💊 Revolution: How digital health companies are [capitalizing]( on the GLP-1 boom. 📈 Breakthrough: Invest in the “[Holy Grail](” of weight loss. * 🖼 For the joy: Meet the art collectors with [home galleries](: ‘The stock market doesn’t give me any fulfillment.’ 💸 $100M Club: World's most remote city does [booming]( business catering to ultra-rich. 🧺 Al Fresco: Paris' famous Champs-Élysées transformed into a massive [picnic blanket]( with treats from famous chefs. [An AI Super-Event is on the Horizon: Less Than Three Months Away. Uncover the Insights.]( [(Privacy Policy/Disclosures)]( DAILY SHARE [tw profile: Rothmus 🏴] Rothmus 🏴 @Rothmus [tw] May 28, 2024 1.48K Likes 104 Retweets 149 Replies [tw profile: Dr. Parik Patel, BA, CFA, ACCA Esq.] Dr. Parik Patel, BA, CFA, ACCA Esq. @ParikPatelCFA [tw] I asked Google AI what to do if I am homeless and it told me to buy a house May 24, 2024 668 Likes 38 Retweets 54 Replies [tw profile: High Yield Harry] High Yield Harry @HighyieldHarry [tw] Underpaid VP who quarterbacks the deal and barely has any carry Managing Partner who no one has been able to push out May 27, 2024 438 Likes 7 Retweets 4 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. 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