💼 All eyes on GME

GameStop set to jump as 'Roaring Kitty' reveals $180M position -your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 June 03, 2024 | [Read Online]( First time here? [Sign up]([»]( Good morning. The Fast Five → [GameStop set to jump]( as 'Roaring Kitty' reveals $180M position, [Nvidia announces]( next-Gen AI Platform for 2026, Key engines of consumer spending are [losing steam]( all at once, penny stock trading boom [prompts warnings]( of frothy markets, and homebuyers are [starting to revolt]( over steep prices… Calendar: (all times ET) TUE, 6/4: Job openings, 10:00a WED, 6/5: US trade deficit, 8:30a THU, 6/6: Initial jobless claims, 8:30a FRI, 6/7: Unemployment rate, 8:30a Your 5-minute briefing for Monday, June 3: BEFORE THE OPEN As of market close 5/31/2024. Bitcoin as of 6/2/2024. Pre-Market: US Investor % Bullish Sentiment: 39.04% for Wk of May 30 2024 (Last week: 47.04%). Market Recap: - Stock futures rise: Dow +0.3%, S&P +0.3%, Nasdaq +0.4%. - Strong May: Nasdaq up 6.9%, best since Nov 2023. - Rally lost steam: all indexes 1%+ below record highs. - Dow added 500+ points Friday; Nasdaq fell 1.1% last week. - Growth stocks, interest rates in focus ahead of Fed meeting. - Key economic updates: manufacturing data today, jobs report Friday. EARNINGS What we’re watching this week: - Tuesday: Bath & Body Works ([BBWI](), CrowdStrike ([CRWD](), Hewlett Packard Enterprise ([HPE](), Stick Fix ([SFIX]() - Wednesday: Campbell Soup ([CPB](), ChargePoint ([CHPT](), Dollar Tree ([DLTR](), Five Below ([FIVE](), Victoria's Secret ([VSCO]() - [Lululemon Athletica (LULU)]( - earnings of $2.38 per share, (+4.4% YoY) on $2.2B revenue (+10% YoY) - Thursday: Big Lots ([BIG](), DocuSugn ([DOCU](), Nio ([NIO]() - [Ciena (CIEN)]( - earnings of $0.15 per share (-79.7% YoY) on $894.9M revenue (-20.8% YoY) Full earnings calendar [here](. HEADLINES [Nvidia Announces Next-Generation Rubin AI Platform for 2026]( CEO Jensen Huang reveals plans for annual upgrade cycle. Company details plans for Blackwell Ultra and subsequent chips. [GameStop Set to Jump as 'Roaring Kitty' Post Reveals $180 Million Position]( Shares trading at the high end of range allowed by Robinhood. Closely-followed Reddit handle allegedly posts new positions. - Fed’s favored inflation gauge cools, spending unexpectedly drops ([more]() - Key engines of consumer spending are losing steam all at once ([more]() - Boom in penny stock trading prompts warnings of frothy markets ([more]() - Homebuyers are starting to revolt over steep prices across US ([more]() - Asia shares rally on promise of rate relief, factory pick up ([more]() - Markets in India react after polls suggest a resounding victory for Modi ([more]() - Saudi Aramco’s $12B stock offer sells out in hours ([more]() - Oil falls as US reports surprise fuel build, weak demand ([more]() - OPEC+ extends deep oil production cuts into 2025 ([more]() - US faces a China conundrum in chip licensing restrictions ([more]() - Nvidia set to overtake Apple as world's second-most valuable company ([more]() - Chinese spacecraft makes historic landing on far side of moon ([more]() - Tesla shareholder sues Musk for alleged $7.5B insider trading ([more]() - Bezos sells Amazon stock to bankroll nonprofit preschools ([more]() - VCs are selling shares of hot AI companies like Anthropic and xAI to small investors in a wild SPV market ([more]() PRESENTED BY 1440 News for humans, by humans. - Today's news. - Edited to be unbiased as humanly possible. - Every morning, we triple-check headlines, stories, and sources for bias. - All by hand with no algorithms. [Sign up now!]( DEALFLOW M+A | Investments - Paramount's special committee agrees to recommend Skydance deal ([more]() - Chobani billionaire acquires shuttered Anchor Steam Brewery ([more]() - Ackman's Pershing Square raising $1 billion, eyeing IPO ([more]() - OneWater in talks to buy rival boat dealer MarineMax ([more]() - Virrtue, a finance and accounting BPO company, acquired Virgate, a tech-driven accounting services company ([more]() - Applexus Technologies, a tech company providing SAP consulting, analytics, and business services, acquired Absoft, an SAP implementation and managed services company ([more]() - ACA acquires UMB Distribution Services ([more]() - PE-backed Flow acquires Dynamic Air Solutions ([more]() - insightsoftware, provider of comprehensive solutions for finance, accounting, and operations teams, acquires Fiplana, a financial planning and analysis software solution ([more]() - KKR buys majority ownership in Agiloft ([more]() - Mavenir, a cloud-native network infrastructure provider, raised up to $75M in investment ([more]() - Swift Anchor invests in Essential Turbines ([more]() - Balance Point invests in Firehook Bakery ([more]() - Satori Capital invests in Automatic Fire Protection ([more]() VC - Babylon, a company aiming to build a Bitcoin-secured decentralized world, raised $70M in funding ([more]() - Denim, a tech factoring partner for freight brokers, raised $63M in Warehouse Facility ([more]() - Valar Labs, a developer of computational histology AI tests for predicting cancer therapies, raised $22M in Series A funding ([more]() - Forward, a tech partner empowering SaaS companies to integrate and monetize payments, raised $16M in Seed funding ([more]() - RealReviews.io, provider of an AI-powered review platform, raised an undisclosed amount in funding ([more]() - CinRx Pharma, a hub-and-spoke biotech company, raised additional $73M in funding ([more]() CRYPTO - President Biden vetoes crypto custody bill ([more]() - The SEC ruling on Ethereum ETFs could mark a historic shift in crypto investing ([more]() - Hong Kong says 11 crypto exchanges are closer to getting permits ([more]() BULLISH BITES 🦍 Apes: How rage, boredom and WallStreetBets created a [new generation]( of young American traders. 💥 AI Boom: [The ONE AI Stock to own now](. (It’s not Nvidia.) * ⬆️ On the move: These are the [people to watch]( in finance in 2024. 🤖 WTF is AI? A [non-technical guide]( to understand how and why today’s AI works. 🥊 Battle of influence: ‘[Little Tech](’ sets its sights on Washington. DAILY SHARE [tw profile: Autism Capital 🧩] Autism Capital 🧩 @AutismCapital [tw] 🚨 RoaringKitty, aka The GameStop guy, has $115M of GME shares and $65M of call options expiring June 21st. He’s all in. Wow. Jun 3, 2024 913 Likes 73 Retweets 49 Replies [tw profile: Elon Musk] Elon Musk @elonmusk [tw] Jun 3, 2024 25.8K Likes 1.82K Retweets 1.54K Replies [tw profile: Dr. Parik Patel, BA, CFA, ACCA Esq.] Dr. Parik Patel, BA, CFA, ACCA Esq. @ParikPatelCFA [tw] Yeah I support LGBT Lassi Gulab Jamun Biryani Tandoori chicken Jun 1, 2024 6.73K Likes 614 Retweets 133 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. 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