💼 Selloff

Nvidia’s three-day selloff has traders scouring charts for supportNvidia’s three-day selloff has traders scouring charts for support -your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 June 25, 2024 | [Read Online]( First time here? [Sign up]([»]( Good morning. The Fast Five → [Nvidia’s three-day selloff]( has traders scouring charts for support, ocean shipping prices are near [pandemic-era]( highs, David Rubenstein says Fed rate [cuts not likely]( before election, Trump Media stock ([DJT]() soars 30%, and [Julian Assange is ‘free’](… Calendar: (all times ET) Today: Consumer confidence, 10:00a WED 6/26: New home sales, 10:00a THU 6/27: Initial jobless claims, 8:30a Durable-goods orders, 8:30a FRI 6/28: PCE index, 8:30a Consumer sentiment, 10:00a Your 5-minute briefing for Tuesday, June 25: BEFORE THE OPEN As of market close 6/24/2024. Pre-Market: US Investor % Bullish Sentiment: ↓ 44.37% for Wk of June 20 2024 (Last week: 44.59%) Market Recap: - Dow +260.88 points (0.67%) S&P -0.31%; Nasdaq -1.09%. - Tech fell 2%+; energy up 2.7%; financials & utilities ~1%. - Nvidia fell 6.7%; still up 140% YTD. - AI enthusiasm lifts market despite rate cut concerns. - S&P 500 up 14% YTD after 31 record closes. - May PCE inflation data due Friday. EARNINGS Here’s what we’re watching this week: - Today: - [FedEx (FDX)]( - earnings of $5.36 per share on $22.1B revenue (+0.7% YoY) - Wednesday: General Mills ([GIS](), Levi Strauss ([LEVI]() - [Micron Technology (MU)]( - earnings of $0.51 per share on $6.7B (+77.6% YoY) - Thursday: Lindsay ([LNN](), McCormick & Company ([MKC](), Walgreens Boots Alliance ([WBA]() - [Nike (NKE)]( - earnings of $0.84 per share (+27.3% YoY) on $12.9B revenue (+0.2% YoY) Full earnings calendar [here](. [2024 Opportunities Await: Explore "9 Stocks To 10x"]( *By clicking the link you are subscribing to the Summa Money Newsletter and may receive up to 2 additional free bonus subscriptions. Unsubscribing is easy [(Privacy Policy/Disclosures)]( HEADLINES [Nvidia’s 13% Stock Rout Has Traders Scouring Charts for Support]( [Ocean Shipping Prices Pushing to Pandemic-Era Highs as Congestion Swells]( Disruptions from the diversions around the Red Sea violence are backing up vessels with the peak shipping season still looming. - David Rubenstein says Fed not likely to cut rates before the election ([more]() - Fed floats weaker version of planned bank-capital overhaul ([more]() - US approves Freddie Mac pilot program to buy second mortgages ([more]() - Julian Assange is ‘free,’ will plead guilty to leaking national security secrets ([more]() - Hedge funds turn most bearish on US gasoline in five years ([more]() - Nvidia enters correction territory as slump erases $400B ([more]() - Trump Media stock (DJT) soars 30%, breaking weekslong decline ([more]() - Apple is first company charged with violating EU's DMA rules ([more]() - Novo Nordisk to build $4B factory in US amid weight-loss drug shortages ([more]() - Target taps Shopify to juice its Amazon-like platform ([more]() - Shein files for London IPO as US listing stalls ([more]() - Pfizer testing new non-GLP-1 mechanism for weight-loss drug, CEO reveals ([more]() - Oracle warns that a TikTok ban would hurt business ([more]() From Stansberry Research "This Could be Worth Even More than A.I." Whitney Tilson's nailed many of the most famous stocks of the last 25 years – including Netflix, Amazon, and Apple. Now he's pounding the table on a new technology rolling out across America, which early estimates say could create more wealth than A.I., the personal computer, and the smartphone combined. [Click here to see how it could become the No. 1 investment of the next decade.]( - please support our sponsor - DEALFLOW M+A | Investments - KKR seeks $20 billion for new North America buyout fund ([more]() - Rite Aid wins $200M dispute over Elixir sale to MedImpact ([more]() - Russia's MTS to buy back foreigners' blocked shares for $29M ([more]() - Covestro opens door to ADNOC deal after it raises bid to $12.5B ([more]() - Resource Innovations, a tech-enabled services company focused on energy efficiency and sustainability, acquired Cadeo, a clean energy consulting firm ([more]() - Naomi Watts, actress and advocate for women’s health, and L Catterton, a consumer-focused investment firm, announced their partnership in the acquisition of Stripes Beauty ([more]() - JF Fitness, a Crunch Fitness franchisee serving the Mid-Atlantic and Southeastern U.S., received an investment from Trive Capital and 808 Capital Partners ([more]() VC - BillionToOne, a precision diagnostics company, raised $130M in Series D funding at an over $1B+ valuation ([more]() - HeyGen, an AI video generation platform for businesses, raised $60M in Series A funding at a $500M post-money valuation ([more]() - The Picklr, an indoor pickleball franchise, raised a Series B funding, at $59M valuation ([more]() - Daydream, a search and discovery shopping platform, raised $50M in Seed funding ([more]() - Amplify Life Insurance, a digital platform for wealth-building through permanent life insurance, raised $20M in Series B funding ([more]() - Maxterial, a material science company, raised nearly $8M in Series A funding ([more]() - MEandMine, a startup for classroom well-being using AI to identify psychological risks in children, raised $4.5M in funding ([more]() - Coeptis Therapeutics (COEP), a biopharmaceutical company developing cell therapy platforms closed on $4.3M in financing ([more]() - Backstroke, a generative AI messaging platform, raised $2M in Seed funding ([more]() CRYPTO - Bitcoin tumbles back to $60,000 to start the week ([more]() - Meme coins are having a moment ([more]() - Trump in talks to speak at Bitcoin convention in July ([more]() - Former Mt. Gox crypto users set to get repayments ([more]() BULLISH BITES 🇺🇸 Influence: How Jeff Yass became one of the [most influential]( billionaires in the 2024 election. 📈 Google CEO: [This is likely bigger than electricity]( * 🚖 Inside Look: How a [cyberattack]( took 15,000 car dealers offline. 🏎 Ferrari: Ferrari races into new territory with line of [$500,000]( electric cars. 🍷 Haute: The best [new rosé]( wines aren’t from France. DAILY SHARE [tw profile: Autism Capital 🧩] Autism Capital 🧩 @AutismCapital [tw] Save us, Daddy. Jun 24, 2024 76 Likes 2 Retweets 18 Replies [tw profile: Not Jerome Powell] Not Jerome Powell @alifarhat79 [tw] Nvidia is down 12% since Cramer said this. Legend! Jun 24, 2024 1.03K Likes 98 Retweets 63 Replies [tw profile: john (not a computer)] john (not a computer) @AlignDeez [tw] leaving chipotle with a burrito the size of a football big strong guy, he’s a big strong guy @HESaBSG if i were a betting man I’d be short Chipotle going into q2 earnings significant increase in bowl size MoM. talking close to 100% increase feels like the chipotle of yesteryear Jun 24, 2024 5K Likes 172 Retweets 4 Replies [tw profile: Dr. Parik Patel, BA, CFA, ACCA Esq.] Dr. Parik Patel, BA, CFA, ACCA Esq. @ParikPatelCFA [tw] Startup idea: a dating app that matches H1B visa holders with American citizens for green card marriage purposes The company then gets 5% equity in the H1B holder’s future startup for facilitating the green card marriage Jun 24, 2024 686 Likes 27 Retweets 43 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. 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