💼 AI bill sparks debate

PLUS - Fed likely to cut rates by quarter point -your pre-market briefing inside...                                                                                                                                                                                                                                                                                                                                                                                                                 August 27, 2024 | [Listen Online]( | [Read Online]( First time here? [Sign up]([»]( A quick favor? Hit ‘reply’ and tell us your current top stock pick! Why? we are changing our send domain which may cause some bumps in delivery. When you ‘reply’ it “tells” your email provider to keep briefings in your primary inbox (plus we’ll share the stock picks!) - thank you. Good morning. The Fast Five → Dow closes at new [record high](, Fed likely to cut rates by [quarter point](, Apple announces [iPhone event](, OpenAI supports California AI bill requiring '[watermarking](', and SpaceX to launch billionaire on first-ever [private spacewalk](. Today’s briefing ahead, but first… 📈 [Some of Nvidia’s partners have already surged as much as 4,744%. These 3 are next »]( A message from Weiss Research Calendar: (all times ET) - Full calendar [here]( - Today: Consumer confidence, 10:00A - Tomorrow: [none] Your 5-minute briefing for Tuesday, August 27: BEFORE THE OPEN As of market close 8/26/2024. Pre-Market: US Investor % Bullish Sentiment: ↑51.61% for Wk of August 22 2024 Last week: 42.54%. Updates every Friday. Market Wrap: - Dow closed at a record, up 65 points; S&P -0.32%, Nasdaq -0.85%. - Tech fell; Nvidia dropped 2.3% ahead of key earnings. - Energy sector up 1% as traders rotated out of tech. - August began with a sell-off, but stocks have rebounded. - Powell hinted at rate cuts; traders expect Sept cut. EARNINGS Here’s what we’re watching this week: - Today: Nordstrom ([JWN]() - Wednesday: Abercrombie & Fitch ([ANF](), CrowdStrike ([CRWD](), Five Below ([FIVE](), Kohl's ([KSS]() - [Nvidia (NVDA)]( - earnings of $.57 per share (lower than Q1 due to the 10-for-1 stock split) on $25.6B revenue, nearly double the $13.5B it reported in the year-ago period. - [Salesforce (CRM)]( - earnings of $2.36 per share (+11.5% YoY) on $9.2B revenue (-3.8% YoY) - Thursday: American Eagle ([AEO](), Dollar General ([DG](), Gap ([GAP](), Lululemon ([LULU]() -  [Ulta Beauty (ULTA)]( - earnings of $5.52 per share (-8.3% YoY) on $2.6B revenue (+4% YoY) Full earnings calendar [here](. HEADLINES [Dow Closes at New Record High on Rate Cut Rally]( Remarks by Fed Chair Jerome Powell fueled a rally on Wall Street after he said on August 23 that the "time has come" for the US to start cutting interest rates. [AI Bill Sparks Fierce Debate in Silicon Valley]( The AI safety bill, SB 1047, would put more responsibility on any developer spending more than $100 million to build an AI model. - Fed likely to cut rates by quarter point next month, Daly says ([more]() - US business' equipment spending shows loss of momentum ([more]() - Oil jumps more than 3% on Libya production halt ([more]() - Goldman’s Rubner sees S&P new high this week, spurring FOMO ([more]() - Banks likely ‘end game’ for repo market as Treasury supply grows ([more]() - Nvidia mints millionaires too busy to bask in new wealth ([more]() - Apple announces iPhone event for Monday, Sept. 9 ([more]() - Apple’s Maestri to hand off CFO job ([more]() - JPMorgan sued over low rates on cash sweeps ([more]() - SpaceX to launch billionaire on first-ever private spacewalk ([more]() - OpenAI supports CA AI bill requiring 'watermarking' of synthetic content ([more]() - Meta platforms strikes geothermal energy deal to power data centers ([more]() A MESSAGE FROM OUR PARTNER Nvidia Ex-Partners Soared up to 4,744%: $1T AI Pivot Lures New Names Nvidia's past collaborations have often benefitted both parties, with one rising as much as 4,744%. As Nvidia pivots to capitalize on a new $1 trillion opportunity in AI, fresh alliances are forming. Dr. Martin Weiss has pinpointed three silent partners that could play a crucial role in this phase of the AI boom. [See Dr. Weiss's urgent presentation as he unveils Nvidia's new partners in its game-changing $1T AI pivot »]( - sponsored message - DEALFLOW M+A | Investments - Bronfman drops Paramount bid, clearing path for Skydance deal ([more]() - McKesson to buy stake in Florida cancer chain for $2.49B ([more]() - Trintech's owners explore $2 bln sale of financial software maker ([more]() - Avionté, a provider of enterprise staffing platforms acquired AkkenCloud, a staffing software company ([more]() - Dysrupt, a marketing agency, acquired Armscye, a performance marketing and brand strategy firm ([more]() - Enigma, a cybersecurity platform focusing exclusively on Zero Trust, acquired Onclave Networks, a cybersecurity company focused on diverse environments ([more]() VC - Butlr, a physical AI startup, raised $38M in Series B funding ([more]() - Slingshot AI, an AI mental health startup, reportedly raised approximately $30M in seed funding ([more]() - Home Run Dugout, an entertainment provider featuring indoor soft-toss baseball, raised $22.5M in Series A funding ([more]() - HomeLight, a real estate tech platform empowering innovative transactions, raised $20M in Series D extension funding ([more]() - PrivacyHawk, a company specializing in consumer data protection, raised additional $3M in funding ([more]() - Revenew, a provider of a payment operations and optimization platform, raised $4.6M in seed funding ([more]() - CancerIQ, a health platform that personalizes cancer prevention and early detection, received financing from Decathlon Capital Partners ([more]() CRYPTO - Bitcoin consolidates at $64K before next push higher ([more]() - Telegram-linked crypto token plunges after CEO is arrested in France ([more]() - Kraken must face SEC suit over crypto exchange registration ([more]() BULLISH BITES 📈 AI’s Big Pivot: [A massive $1 Trillion AI superproject is underway]( * 🏦 Pursuits: Will [TXSE]( make Dallas America's next financial titan? 👀 Inside Look: What to know about Telegram CEO [Pavel Durov](. 🎸 Spun Out: Martin Shkreli is ordered to give up a [one-of-a-kind]( Wu-Tang Clan album. DAILY SHARE [tw profile: sophie] sophie @netcapgirl [tw] my life in a chart… [tw profile: Citrini] Citrini @Citrini7 my life in a chart… x.com/david_h0s/stat… 5:43 PM • Aug 26, 2024 270 Likes 10 Retweets 10 Replies [tw profile: Autism Capital 🧩] Autism Capital 🧩 @AutismCapital [tw] Kamala looking at your unrealized asset gains. 8:33 PM • Aug 26, 2024 832 Likes 50 Retweets 35 Replies [tw profile: Dr. Parik Patel, BA, CFA, ACCA Esq.] Dr. Parik Patel, BA, CFA, ACCA Esq. @ParikPatelCFA [tw] They call me 007 0 net worth 0 motivation 7 samosas daily 7:41 PM • Aug 26, 2024 1.48K Likes 88 Retweets 55 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, a Capital Media publication 99 Wall St, Ste 314 New York, NY 10005, United States of America [[beehiiv logo]Powered by beehiiv]( [Terms of Service](