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SECURITY THREAT?


APPLE DEBUTS AI TOOLS, INCLUDING CHATGPT PARTNERSHIP, MUSK THREATENS IPHONE BAN
OVER APPLE-OPENAI DEAL, NVIDIA STOCK RISES AFTER STOCK SPLIT, FOMC MEETING
STARTS TODAY, AND THE UAW PRESIDENT IS UNDER INVESTIGATION…

Market Briefing
June 11, 2024



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GOOD MORNING.

The Fast Five → Apple debuts AI tools, including ChatGPT partnership, Musk
threatens iPhone ban over Apple-OpenAI deal, Nvidia stock rises after stock
split, FOMC meeting starts today, and the UAW president is under investigation.
Full briefing ahead after this message from Netpicks…

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Calendar: (all times ET)

WED, 6/12:

Consumer Price Index (CPI), 8:30a
Fed Chair Powell press conference, 2:30p

THU, 6:13:

Initial jobless claims, 8:30a
Producer Price Index (PPI), 8:30a

FRI, 6:14:

Consumer sentiment, 10:00a



Your 5-minute briefing for Tuesday, June 11:



BEFORE THE OPEN

As of market close 6/10/2024.


PRE-MARKET:






US INVESTOR % BULLISH SENTIMENT:
↓ 38.97% FOR WK OF JUNE 06 2024 (LAST WEEK: 39.04%).





MARKET RECAP:

 * Stock futures dip ahead of Fed's June meeting.

 * S&P 500 and Nasdaq hit new records; Dow up 0.2%.

 * Fed meeting starts today; decision and press conference Wed.

 * No rate change expected; CME’s FedWatch Tool shows no cut.

 * Oracle and Rubrik earnings after close.



EARNINGS

What we’re watching this week:

 * Today:
   
   * Oracle (ORCL) - earnings of $1.65 per share (-1.2% YoY) on $14.6B revenue
     (+5.4% YoY)

 * Wednesday: Dave & Busters Entertainment (PLAY), Oxford Industries (OXM)
   
   * Broadcom (AVGO) - earnings of $10.80 per share for (+4.7% YoY) on $12.0B
     revenue (+37.9% YoY)

 * Thursday: 
   
   * Adobe (ADBE) - earnings of $4.39 per share (+12.5% YoY) on $5.3B revenue
     (+10.4% YoY)

Full earnings calendar here.

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HEADLINES


APPLE DEBUTS IOS 18, AI TOOLS, INCLUDING CHATGPT PARTNERSHIP

Ensuring that customer data is secure was a major theme of the presentation.


MUSK THREATENS TO BAN IPHONES OVER APPLE-OPENAI DEAL

He said visitors to his companies would have to check their devices at the door.

 * Stocks settle higher ahead of FOMC meeting (more)

 * Dollar firm ahead of key inflation test, Fed update (more)

 * Oil holds biggest gain since March ahead of OPEC report (more)

 * Bond traders will follow the new Fed Dots all the way into 2025 (more)

 * BlackRock cautious on long-term Treasuries ahead of elections (more)

 * Asia stocks range-bound as EU politics adds new risks (more)

 * UAW president under investigation by federal monitor (more)

 * Dockworkers at ports from Boston to Houston halt labor talks (more)

 * Nvidia stock rises after 10-for-1 stock split (more)

 * Toyota, Mazda, Honda, Suzuki shares fall after safety scandal (more)

 * OpenAI hires new CFO and product chief (more)

 * Elliott disrupts CEOs’ summer plans with $400B in new targets (more)

 * NYC landlord to sell office building at roughly 67% discount (more)



A MESSAGE FROM BEHIND THE MARKETS



China to Launch Gold-Backed Currency

A mountain of evidence compiled over the past 20 months makes it clear to us
that China will make this announcement as soon as July 6, 2024.

How you handle this situation will be one of the most important financial
decisions you ever make.

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DEALFLOW


M+A | INVESTMENTS

 * Textainer in talks to buy HNA’s Seaco in $5B deal (more)

 * Bain makes $1.2B bid for Australian car parts shop Bapcor (more)

 * Daiwa Securities to buy Aozora Bank stake from activist fund (more)

 * Cognizant to acquire Belcan for $1.3B (more)

 * JobGet, an app-first hiring platform connecting workers with brands, acquired
   Wirkn, a frontline recruitment platform provider (more)

 * Greater Sum Ventures, acquired Kologik, a provider of software for law
   enforcement (more)

 * Cvent, a meetings, events, and hospitality technology provider, acquired
   Reposite, an AI-powered vendor and supplier sourcing platform (more)

 * Cognizant acquires Belcan, a global supplier of ER&D services, for approx
   $1.3B in cash and stock (more)

 * Radiant Logistics, Inc. (RLGT) a tech-enabled global transportation logistics
   company, acquired the operations of DVA Associates, Inc., a transportation
   and logistics company (more)

 * Omega Systems, an MSP and MSSP, acquired Amnet Technology Solutions and
   Cloudpath (more)

 * OneRail, a last mile delivery fulfillment solution provider, acquired
   Orderbot, a distributed order management solution (more)

 * insightsoftware, solutions for the Office of the CFO, acquired FXLoader, an
   automated exchange rate loading software for ERP systems and financial
   applications (more)

 * Netsurit, an MSP industry leader, acquired Avaunt Technologies, Inc., an MSP
   company offering technical services to SMB’s (more)

 * Health Catalyst, Inc. (HCAT), a provider of data and analytics tech to
   healthcare orgs, acquired Carevive Systems, an oncology-focused health
   technology company (more)

 * Apex Infusion, a provider of ambulatory infusion therapy services, received
   an investment from FFL Partners (more)


VC

 * Atlantic Street Capital, made an add'l $70M investment in its portfolio
   company, Zips Car Wash (more)

 * Relay, a cloud-based communications platform for frontline teams, raised $35M
   in Series B funding (more)

 * Nexus, a zero-knowledge cryptography company, raised $25M in Series A funding
   (more)

 * Anterior, an AI-powered healthcare administration platform, raised $20M in
   Series A funding (more)

 * Whoosh, a provider of a club operations software solution, raised $10.3M in
   Series A funding (more)

 * OnStation, a provider of digital stationing solutions for the heavy highway
   industry, raised $8.5M in Series A funding (more)

 * FirmPilot, an AI marketing engine for law firms, raised $7M in Series A
   funding (more)

 * PPC.io, a pay-per-click marketing startup, raised $5M in Seed funding (more)

 * Jump, a provider of AI software for financial advisors, raised $4.6M in
   funding (more)

 * Tomato.ai, a speech AI company specializing in accent softening software,
   raised $2.1M+ in extension seed funding (more)



CRYPTO

 * Bitcoin bags $2B inflows, Ether sees highest institutional buying since March
   (more)

 * Bitfarms adopts ‘poison pill’ after riot takeover offer turns hostile (more)

 * Fidelity International tokenizes money market fund on JPMorgan’s blockchain
   (more)



BULLISH BITES

📊 Learn: How the new ‘T+1’ rule settles US stocks in a day.

🙏 Tough Love: Starbucks' Howard Schultz on the time Steve Jobs screamed at him.

😬 Sketchy: The shortcut that allows risky startups to raise billions from
rookie investors.

🌯 Buzz: "Chipotle boys" are taking NYC by storm.

🎓 Inspiring: Roger Federer's speech to recent Dartmouth graduates is going
viral (for all the right reasons).



DAILY SHARE






WHAT DID YOU THINK ABOUT TODAY'S BRIEFING?

 * ⭐️⭐️⭐️⭐️⭐️ Excellent, keep it comin'!
 * ⭐️⭐️⭐️⭐️ Good stuff
 * ⭐️⭐️⭐️ It was alright
 * ⭐️ Needs work

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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
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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.

 



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