💼 All roads lead to Google

Microsoft CEO says they can’t compete with Google during antitrust trial... your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 October 04, 2023 | [Read Online]( [Market Briefing] ☕️ Good Morning. The Fast Five → [Microsoft CEO]( says they can’t compete with Google during antitrust trial, Kevin [McCarthy ousted]( as US House Speaker in historic vote, SBF [shows up]( for court, 10-year Treasury yield at [16-year]( high, and [Chipotle]( tests burrito bowl automation… Here’s your 5-minute MarketBriefing for Wednesday: BEFORE THE OPEN As of market close 10/3/2023. MARKETS: - Stocks plummet as 10-year Treasury yields reach 2007 levels. - Dow down 430.97 points (1.29%), S&P 500 drops 1.37%, Nasdaq falls 1.87%. - Dow slips into the red for the year (-0.4%), but S&P 500 still up 10% for 2023. - 10-year Treasury yield hits 4.8%, 30-year at 4.925%, 30-year mortgage rates near 8%. - Stocks and bond yields move opposite; job openings survey indicates tight labor market. - Fear escalates, Cboe Volatility Index at highest since May. - SPDR S&P Homebuilders ETF (XHB) down over 2%, impacting Home Depot and Lowe's. - Big Tech, including Nvidia and Microsoft, hit by higher interest rates. EARNINGS Here’s what we’re watching this week: - Today: Tilray (TLY) - Thursday: Lamb Weston (LW), Conagra (CAG) - [Full earnings calendar here]( NEWS BRIEFING [The Internet Is Really Just The “Google Web,” Microsoft CEO Says During Google’s Antitrust Trial]( Microsoft CEO Satya Nadella said the tech mammoth is simply unable to compete with Google. [Sam Bankman-Fried Shows Up for Court Leaner, With Famous Locks Shorn]( The 31-year-old FTX co-founder arrived in Manhattan federal court for jury selection Tuesday dressed in a navy suit that seemed bigger on him than in previous appearances. - Kevin McCarthy ousted as US House Speaker in historic vote ([more]() - Here’s who might testify in Sam Bankman-Fried fraud trial: Parents, ex-girlfriend Ellison, Scaramucci ([more]() - 10-year Treasury yield reaches highest level in 16 years ([more]() - Short fast food credit because of Ozempic, Barclays says ([more]() - Taiwan tech companies are helping Huawei build a secret network of chip plants ([more]() - New ETF boom defies saturation warnings in $7 trillion industry ([more]() - Tech IPOs could burn firms who bought into hot startups too late ([more]() - Wall Street thinks America's homes are overvalued ([more]() - Mortgage rates plunge for biggest one-day drop in 6 months ([more]() - More than 40% of labor force to be affected by AI in 3 years, Morgan Stanley forecasts ([more]() - Ford sweetens wage offer in proposal to striking UAW workers ([more]() - Intel plans to IPO programmable chip unit within three years; stock rises after hours ([more]() - Chipotle tests automation for burrito bowls and salads ([more]() - Macy’s to triple small-format store count in move away from malls ([more]() - UPS and FedEx customers regain upper hand in delivery price battle ([more]() - TikTok testing out advert-free monthly subscription ([more]() - Samsung to develop AI chips with Canadian startup Tenstorrent ([more]() - Dish Is First Company to Be Fined By F.C.C. Over Space Junk Rule ([more]() - Gucci, Chanel and other luxury retailers splurge on American real estate ([more]() - Colleges find real estate bargains in empty office spaces ([more]() Was this briefing forwarded to you? ([Sign up here](.) DEALFLOW - BP explores $1 billion US pipelines stake sale ([more]() - Krispy Kreme looks to sell Insomnia Cookies unit ([more]() - Lilly eyes targeted cancer therapies with $1.4 billion Point Biopharma deal ([more]() - Carlyle seeks $2.5B debt for Medtronic units bid ([more]() - Defense startup Anduril is in talks to raise more than $400 million from investors ([more]() - Kelso closes Fund XI at $3.25B ([more]() - Farther, a wealth management firm, raised $31M in Series B funding; valued at $131M ([more]() - League One Volleyball (LOVB), a volleyball professional league, raised $35M in funding ([more]() - Health Data Analytics Institute (HDAI), an artificial intelligence (AI) company focused on empowering clinicians, optimizing care pathways, and improving patient outcomes, received $31M in Series C financing ([more]() - AI Clearing, a provider of an AI-powered autonomous construction progress tracking and quality control platform, raised $14M in Series A funding ([more]() - Kafene, a provider of a point-of-sale financing platform, raised additional $12.6M in Series B funding ([more]() - Cultivate Power, a distributed solar and storage project developer, raised a $10M investment from Generate Capital ([more]() - Titan Flood, a managing general agent (MGA) specializing in the private residential flood market, received an investment from K2 Insurance ([more]() - Health Data Innovations, a healthcare data integration platform for care providers and payers, received an investment from Hughes & Company ([more]() - Health Data Analytics Institute (HDAI), an artificial intelligence (AI) company focused on empowering clinicians, optimizing care pathways, and improving patient outcomes, received $31M in Series C financing ([more](investment from Hughes & Company ) - Qube Technologies, a provider of continuous emissions monitoring technology, received a Series B funding from Riverbend Energy Group ([more]() - BXVentures, a venture studio and climate tech specialist, launched a global climate tech venture studio fund ([more]() - InvestBev invests in Thomas Ashbourne Craft Spirits ([more]() M & A: - Ex-BTG Partners’ investment firm buys Brazil fund manager ([more]() - Alterna-backed Mod Op purchases DPrism ([more]() - PNC buys book of Signature Bank’s private equity loans From FDIC ([more]() - ACP buys Avenu ([more]() - Solace-backed Fabcon acquires Bristol Precast ([more]() - iA Financial Group purchases J.C. Flowers-backed Vericity (more) - Pritzker Private Capital buys Sugar Foods ([more]() CRYPTO - SEC pushes ahead with case against Coinbase crypto exchange ([more]() - Cryptoverse: 'It's a knife fight' as traders get tokenized ([more]() - Binance collaborates with Royal Thai Police to seize $277M from scammers ([more]() BULLISH BITES ⌛️ The Pros and Cons of Starting a Business as an Older Entrepreneur → [WSJ]( 🧐 The Inside Story of Dave Clark’s Tumultuous Last Days at Flexport: Standoffs, Politics, and Spin → [CNBC]( 💬 Social Media Is Entering a New, Less Toxic Era People are leaving big platforms for smaller online circles. Is it the start of a new, healthier era of social media? → [Insider]( DAILY SHARES [tw profile: David Forum 🦅 🇨🇺 tha Smokin’ Nephew] David Forum 🦅 🇨🇺 tha Smokin’ Nephew @zlingerrr [tw] dispatch from dc Oct 3, 2023 1.1K Likes 109 Retweets 14 Replies [tw profile: High Yield Harry] High Yield Harry @HighyieldHarry [tw] “Your Honor, Michael Lewis said he didn’t do anything wrong.” Oct 3, 2023 205 Likes 6 Retweets 7 Replies Know someone who would enjoy this? [CLICK TO SHARE 🔥Â]( What did you think about today's briefing? - [⭐️⭐️⭐️⭐️⭐️ Excellent, keep it comin'!]( - [⭐️⭐️⭐️⭐️ Good stuff]( - [⭐️⭐️⭐️ It was alright]( - [⭐️ Needs work]( Like what you see? [Subscribe Now]( Keep the curation going! [Buy the team a coffee]( ☕️ Have any suggestions for MarketBriefing? We’d love to hear it. 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