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US economy glows red hot in third quarter report… your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 October 27, 2023 | [Read Online]( ☕️ Good Morning. Welcome to the weekend… The Fast Five → Biden [shifts tone]( on Israel war, US economy glows [red hot]( in third quarter report, Morgan Stanley’s new CEO said [investment banking]( will lead next cycle, [Xi on the hunt]( for real estate corruption, and SBF [tells judge]( he acted on legal advice… Here’s your 5-minute briefing for Friday: BEFORE THE OPEN As of market close 10/26/2023. MARKETS: - Nasdaq 100 futures up 0.8% after recent correction. - Amazon gains nearly 5% in after-hours trading on strong Q3 results. - Ford stock drops 3% due to missed Q3 earnings and guidance withdrawal. - Nasdaq in correction territory, down over 12% since July high. - S&P 500 teeters close to correction, down 9.8% from July high. - Upcoming focus on September's personal consumption expenditures (PCE) reading, a key inflation gauge. - Chevron and Exxon Mobil to report earnings before the bell. EARNINGS - [Full earnings calendar here]( NEWS BRIEFING [Morgan Stanley’s Ted Pick Says Investment Banking to Lead Next Cycle]( “In equities and fixed income and across investment banking, we’re focused on being No. 1," Pick said in a Bloomberg interview. Pick found out Wednesday that he will succeed Gorman atop bank. [Disney’s 100 Years: With an Uncertain Future, Will Disney Pull Off Yet Another Magic Trick?]( As Walt Disney Studios turns 100, investors worry it's beginning to show its age. The share price dropped to its lowest level in nearly nine years as the company stumbles in the age of streaming. - Israel War Latest: - Behind Biden's shift on Israel-Hamas war - Gaza deaths, international pressure ([more]() - Hamas' tunnel city beneath Gaza - a hidden front line for Israel ([more]() - US economy glows red hot with a 4.9% GDP reading for the third quarter ([more]() - Biden hails hot GDP report, but voters don’t see the rosy picture Wall Street does ([more]() - Yellen says yield surge is due to strong economy, not deficits ([more]() - New House Speaker meets Biden to discuss funding requests ([more]() - China rushes to swap Western tech with domestic options as U.S. cracks down ([more]() - Xi said to sacrifice economic growth in order to root out corruption in China’s troubled real-estate sector ([more]() - Ford workers to return to work as UAW turns to GM, Stellantis ([more]() - UAW makes new proposal to GM as sides bargain to end strike ([more]() - Sam Bankman-Fried tells judge he acted on legal advice ([more]() - CVS ditches common cold meds after FDA advisers say they’re useless ([more]() - Weight-loss drug worries add to US restaurants' weak traffic woes ([more]() - Tesla gets $100M US ultra-fast charger order from BP EV charging unit ([more]() - Uber begins offering rides in self-driving Waymo cars ([more]() - OpenAI is starting a new team to reduce risk from future AI ([more]() - Behind the donor revolt at Penn ([more]() TOGETHER WITH IBD’s MARKETSMITH Get the most powerful research platform available. 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DEALFLOW - Silver Lake says it’s working on offer to buy Endeavor Group ([more]() - Singapore-based fintech YouTrip picks up $50M led by Lightspeed ([more]() - Triveni Bio, a biotech company providing a genetics-informed precision medicine approach for I&I disorders, raised $92M in Series A funding ([more]() - AgentSync, a modern insurance infrastructure company, raised $50M in funding ([more]() - Garuda Ventures, a B2B-focused pre-seed and seed venture capital firm based on Bay Area, raised $31M for its debut institutional fund ([more]() - Omnidian, a solar asset management company, closed a $25M funding round ([more]() - sbe, a lifestyle hospitality company, raised $25M in Credit Facility from Feenix Venture Partners ([more]() - Cranium, an AI security company, raised $25M in Series A funding ([more]() - Traba, a marketplace platform for light industrial staffing, raised $22M in funding ([more]() - Betteromics, a provider of a clinical-grade compliant software-as-a-service platform, raised $20M in Series A funding ([more]() - FlyGuys, a reality data-capturing technology company, raised $10M in Series A funding ([more]() - Inlyte Energy, a grid battery developer, raised $8M in seed funding ([more]() - Upfort, a provider of a cyber security and insurance platform, raised $8M in Series A funding ([more]() - Direqt, a provider of a AI chatbot platform built exclusively for publishers, raised $4.5M in funding ([more]() - Midas Healthcare Solutions, Inc., a developer of tech-driven solutions to promote the safe use, storage, return, and disposal of controlled substances and other dangerous medications in hospitals, raised $2M in funding ([more]() - Web3 Pro, a provider of a SaaS MarTech solution, raised an undisclosed amount in new funding ([more]() - Aliro Qunatum, a quantum networking company, received an investment from Cisco Investments ([more]() - TowerBrook invests in Langan ([more]() M & A: - SmartBug Media, a digital agency for organizations looking to create resilient growth across the customer lifecycle, acquired Globalia, a Canadian digital agency known for its systems integration, implementation and digital transformation capabilities serving a global customer base ([more]() - Hull Street Energy acquires California Natural Gas-Fired Power Plant ([more]() - Pearl Street acquires Famous Brands franchising ([more]() - First National Realty Partners buys ShopRite-anchored center ([more]() - Sun Capital purchases Kovalus Separation Solutions ([more]() - FVLCRUM buys Burrell Communications Group ([more]() Was this briefing forwarded to you? ([Sign up here](.) CRYPTO - SBF grilled in court on deleted messages during testimony ([more]() - JPM Coin handles over $1B in daily transactions — JPMorgan exec ([more]() - Bitcoin cools off at $34K, but '5th bull market' has further to run, says analyst ([more]() BULLISH BITES 🫣 Business leaders are keeping a [low profile]( regarding the new Middle East conflict after a decade of public CEO statements on hot-button issues. 🍎 Inside Google's plan to [stop Apple]( from getting serious about search 🚀 [Taylor Swift]( vaults into billionaire ranks with blockbuster Eras tour. 😡 X users slam VC Jason Calacanis for [mocking]( a woman venting about her 9-5 job. ✈️ Wander is the [future of travel](—the guarantees of a quality hotel paired with the comforts (and space) of a home. DAILY SHARES [tw profile: Autism Capital 🧩] Autism Capital 🧩 @AutismCapital [tw] Summary of October 26th of the FTX trial: Oct 26, 2023 303 Likes 16 Retweets 13 Replies [tw profile: Trung Phan] Trung Phan @TrungTPhan [tw] The 9-to-5 job, explained Oct 26, 2023 408 Likes 36 Retweets 15 Replies [tw profile: Wall Street Silver] Wall Street Silver @WallStreetSilv [tw] The good old days 😢 Oct 26, 2023 2.46K Likes 270 Retweets 96 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 a comment or suggestion for MarketBriefing? We’d love to hear it! 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