💼 Inflation cools

PLUS - Biden confuses Kamala for Trump -your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 July 12, 2024 | [Read Online]( First time here? [Sign up]([»]( Good morning. The Fast Five → [Inflation broadly cools]( paving way for rate cuts, see [inflation breakdown]( in one chart, [Biden confuses]( Kamala for Trump, Zelenskiy for Putin, Tesla shares drop after [robotaxi]( unveiling delay, and some pics from Sun Valley's '[summer camp for billionaires]('… Poll: Should Biden drop out of the Presidential race? [YES]( | [NO]( Calendar: (all times ET) Today: Producer price index (PPI), 8:30 AM Consumer sentiment, 10:00 AM Your 5-minute briefing for Friday, July 12: BEFORE THE OPEN As of market close 7/11/2024. Pre-Market: US Investor % Bullish Sentiment: ↑ 49.18% for Wk of July 04 2024 (Last week: 41.74%) Chart updates every Friday. Market Recap: - Stock futures flat after S&P's worst session since April. - S&P -0.88%, Nasdaq -1.95%, both end 7-day winning streaks. - Nvidia fell 5.6%, Meta dropped 4.1%. - June CPI report showed 0.1% decline, spurring tech sell-off. - Russell 2000 jumped 3.6% on Fed rate cut hopes. - Earnings: JPMorgan, Wells Fargo, Citigroup report Friday. EARNINGS It’s a light week. Here’s what we’re watching: - Today: Citigroup ([C](), Wells Fargo ([WFC]() - [JPMorgan Chase (JPM)]( - earnings of $4.55 per share (-4.2% YoY) on $44B revenue (+3.9% YoY) Full earnings calendar [here](. HEADLINES [Biden Confuses Kamala Harris for Trump, Zelenskiy for Putin]( A series of high-profile gaffes during the NATO summit on Thursday renewed concerns about Biden's age and acuity threatening his presidential campaign. [Inflation Broadly Cools, Likely Sealing Deal for Fed Cut]( Traders all but fully price in September and December interest-rate cuts. - Here’s the inflation breakdown for June 2024 - in one chart ([more]() - Nasdaq sharply lower as investors rotate out of Big Tech ([more]() - Stock rotation hits megacaps on bets Fed will cut ([more]() - Emerging-market currencies highest since May on CPI data ([more]() - US June budget deficit shrinks to $66B after calendar shifts ([more]() - Oil rises for third day on improving demand and weaker dollar ([more]() - Asian tech stocks drop as Yen whipsaws after rally ([more]() - China in Microsoft deal with Emirati AI firm has lawmakers concerned ([more]() - Xi’s campaign to feed China is turning wasteland into farms ([more]() - Olympics will cost Delta $100 million as travelers skip Paris ([more]() - Tesla shares down 8% after report of robotaxi unveiling delay ([more]() - Pfizer moving ahead with plans for once-daily weight loss pill ([more]() Keep up with AI How do you keep up with the insane pace of AI? Join The Rundown — the world’s largest AI newsletter that keeps you up-to-date with everything happening in AI, and why it actually matters in just a 5-minute read per day. [Sign up with one click]( DEALFLOW M+A | Investments - Axel Springer, KKR in talks to break up media empire ([more]() - Hedge funds make rival takeover bid for energy firm Martin Midstream ([more]() - Software provider SNP weighs sale amid takeover interest ([more]() - Bain, Reverence near $3.5B deal for Envestnet ([more]() - BlueConic, a customer data platform, announced the acquisition of Jebbit, a first-party data-capture software for marketers ([more]() - Infor, an industry cloud company, acquired Albanero, a data migration partner, and Acumen, a revenue growth consulting company ([more]() - Pay Ready, a provider of post-resident recovery solutions for property management, acquired EvictionAssistant, an eviction management software company ([more]() - Sharon AI, a provider of a high-performance computing business focused on AI cloud GPU compute infrastructure, acquired Distributed Storage Solutions, an Australian Filecoin storage provider, for $25M ([more]() - Sparq, a provider of outsourced digital engineering for technology driven and Fortune 1000 companies, acquired Amplify Consulting Partners, a data-first consulting firm ([more]() - Thrive, a technology outsourcing provider for cybersecurity, Cloud, and IT managed services, acquired The Longleaf Network, an IT managed services provider ([more]() - Benchmark Analytics, an enterprise SaaS analytics platform, received a Strategic Growth investment from PSG Equity ([more]() - Heartbeat Health, a cardiovascular care company, received a growth investment by Cressey & Company ([more]() - Buildots, an AI construction software company, raised $15M in funding ([more]() - Seismos, a company leveraging AI-powered acoustic sensing to provide insights for any enclosed structure from drill-holes to pipelines, received a $15M investment from Edison Partners ([more]() VC - Active Membranes, developer of electrically-conducting membranes used in desalination, closed initial round of Seed funding ([more]() - ProofPilot, a provider of clinical experience platform, raised an undisclosed amount in Series C funding ([more]() - Element Biosciences, a developer of technologies to empower science, raised over $277M in Series D funding ([more]() - Regard, an AI-powered clinical insights platform for clinicians, raised $61M in Series B funding ([more]() - Fireworks AI, a genAI inference platform provider, raised $52M in Series B Funding, valued at $552M ([more]() - Armada, an edge computing company, raised $40M in funding ([more]() - Soda, an AI data quality company, raised $14M in funding ([more]() - Medal, an AI company providing the MedalTV clipping app, raised $13M in funding, at $333M valuation ([more]() - 3Daughters, a clinical development company fueling revolutionary healthcare for women, raised $4.7M in Seed funding ([more]() CRYPTO - Biden officials open crypto line ([more]() - Firms launch options on swap-based Bitcoin ETF ([more]() - JPMorgan expects crypto market recovery beginning in August ([more]() - Goldman Sachs to launch three tokenization projects by end of year ([more]() BULLISH BITES 🏆 Rankings: America’s [top states]( for business 2024. 🚨 AI Pivot: [What’s Nvidia doing next?]( * 🤝 Risky Business: [Inside Goldman Sachs']( expanding but risky financing engine. 😎 Mogul Style: Sun Valley's '[summer camp for billionaires](' 🤡 King of Chum: [The man behind the AI gaffes]( at Sports Illustrated and USA Today has a history of filling the internet with garbage. DAILY SHARE [tw profile: Not Jerome Powell] Not Jerome Powell @alifarhat79 [tw] The world is laughing at us 12:22 AM • Jul 12, 2024 15.3K Likes 2.13K Retweets 220 Replies [tw profile: ettingermentum🥥🌴] ettingermentum🥥🌴 @ettingermentum [tw] PROOF of collaboration between Putin and Trump👇 12:44 AM • Jul 12, 2024 21.9K Likes 2.13K Retweets 67 Replies [tw profile: Autism Capital 🧩] Autism Capital 🧩 @AutismCapital [tw] KJP thinking of new bullshit for tomorrow. 2:18 AM • Jul 12, 2024 284 Likes 24 Retweets 22 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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