💼 Powell's testimony

Powell tells Congress economy no longer overheated -your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 July 10, 2024 | [Read Online]( In partnership with First time here? [Sign up]([»]( Good morning. The Fast Five → [Powell tells Congress]( economy no longer overheated[, key takeaways]( from testimony, Tesla's US market share [drops below 50%]( for first time, Goldman sees stocks and [economy slowing](, and [Adidas]( set to benefit as [Nike’s turnaround]( efforts falter… Calendar: (all times ET) Today: Jerome Powell testimony to House, 10 AM THU, 7/11: Initial jobless claims, 8:30 AM Consumer price index (CPI), 8:30 AM FRI, 7/12: Producer price index (PPI), 8:30 AM Consumer sentiment, 10:00 AM Your 5-minute briefing for Wednesday, July 10: BEFORE THE OPEN As of market close 7/9/2024. Pre-Market: US Investor % Bullish Sentiment: ↓ 41.74% for Wk of July 04 2024 (Last week: 44.49%) Market Recap: - Stock futures flat after S&P 500 hits record. - Nasdaq, S&P hit new records; Fed Chair Powell warns on high rates. - S&P +0.07%, Nasdaq +0.14%, Dow -0.13%. - Today: Powell testifies to House Committee. - Key data: May wholesale inventories, June CPI Thu, June PPI Fri. - CPI seen as key test for rate cuts. EARNINGS It’s a light week. Here’s what we’re watching: - Thursday: PepsiCo ([PEP]() - [Delta Air Lines (DAL)]( - earnings of $2.37 per share (-11.6% YoY) on $15.5B revenue (+5.8% YoY) - Friday: Citigroup ([C](), Wells Fargo ([WFC]() - [JPMorgan Chase (JPM)]( - earnings of $4.55 per share (-4.2% YoY) on $44B revenue (+3.9% YoY) Full earnings calendar [here](. HEADLINES [US Economy No Longer Overheated, Fed's Powell Tells Congress]( Fed Chair Jerome Powell said in remarks to Congress that suggested the case for interest rate cuts is becoming stronger. [Tesla’s Share of US EV Market Falls Below 50% for First Time]( A new report estimates that Tesla accounted for just under half of all battery-powered vehicles sold in the second quarter of the year. - Key takeaways from Fed Chair Powell’s testimony on Capitol Hill ([more]() - Yellen: inflation will continue to ease over time ([more]() - Biden announces new NATO aid for Ukraine, as his reelection campaign teeters ([more]() - Fed may tweak rule saving biggest US banks billions ([more]() - Oil edges lower as focus turns from hurricane to Fed ([more]() - China bond traders draw red lines as PBOC gears up to calm rally ([more]() - China’s ETF market sees ‘explosive’ growth, inflows jump 5-fold in three years ([more]() - U.N. Aviation Council launches audit of US air safety oversight ([more]() - Goldman Sachs asset managers see economy, stocks slowing ([more]() - Growth stalls at Elon Musk’s X ([more]() - Nike’s new chief runs into trouble as turnaround efforts falter ([more]() - Adidas set to benefit as Nike struggles ([more]() - Dyson to cut a quarter of UK workforce ([more]() - Etsy loses its ‘handmade’ and ‘vintage’ labels as it takes on Temu and Amazon ([more]() Intercom for Startups Join [Intercom’s]( Early Stage Program to receive a 90% discount. Get a direct line to your customers. Try the only complete AI-first customer service solution. [Apply now]( DEALFLOW M+A | Investments - Athletic Brewing raises $50M as nonalcoholic wave sweeps beer making ([more]() - Tyson to sell chicken plant as streamlining push continues ([more]() - Vista Outdoor rejects MNC's buyout offer, agrees to CSG's sweetened bid for unit ([more]() - StanChart crypto unit in talks to buy Alan Howard-backed firm ([more]() - Uberdoc, a healthcare platform, received an investment from CharmHealth and Bioverge ([more]() VC - Captions, a generative video creation and editing platform, raised $60M in Series C funding, at $500M valuation ([more]() - DigniFi, a fintech company specializing in automobile repair financing, raised $175M in funding ([more]() - ZwitterCo, a company empowering water treatment through membrane technologies, raised $58.4M in Series B funding ([more]() - Volley, a creator of voice-controlled games played on TVs and smart speakers, raised $55M in Series C funding ([more]() - Gymdesk, a member management software for fitness and wellness businesses, raised $32M in funding ([more]() - NOWDiagnostics, a developer of over-the-counter and point-of-care diagnostic tests, raised $22.5M in Series B funding ([more]() - Command Zero, an autonomous and user-led cyber investigation platform, raised $21M in Seed funding ([more]() - Courier Health, a tech company specializing in chronic conditions or rare diseases, raised $16.5M in Series A funding ([more]() - Scaler, a platform for decarbonizing real estate with machine learning and ESG data collection, raised $10M in Series A funding ([more]() - The Lasso, an online car bidding platform, raised $9.8M in funding ([more]() - Biostate AI, a biodata foundry startup, raised $4M in funding ([more]() - NodaFi, a company specializing in facility operations platforms, raised $3.5M in Seed funding ([more]() - Niva, a global business identity platform, raised more than $3.3M in funding ([more]() - Accend, a company helping fintechs and banks accelerate business customers’ onboarding process, raised $3.2M in Seed funding ([more]() - Maximum Fidelity Surgical Simulations (MaxFi), a company providing lifelike cadavers to create highly realistic surgical simulations for medical education, raised $2.25M in Seed funding ([more]() Sponsored [What’s Nvidia doing next??]( Nvidia ruled the first wave of the AI boom. Its chips are needed by anyone who is serious about artificial intelligence. But Nvidia recently pivoted to a massive new sector. One that is vital to the future of AI. This pivot is already worth at least $1 trillion. And now, three small companies could benefit greatly from Nvidia’s pivot.[Click here to learn about Nvidia's next AI move.]( [Privacy Policy/Disclosures]( CRYPTO - German gov’t transfers another $900M in Bitcoin, adding to BTC’s selling pressure ([more]() - Trump's official Republican platform pledges to halt crypto 'crackdown' ([more]() - Ethereum to launch first $2M protocol-wide ‘Attackathon’ ([more]() BULLISH BITES 🏆 Check it out: The [top 250 global fintechs]( — from banking challengers to crypto heavyweights. 📈 Stock Alert: Prepare for a “[cash avalanche](” * 🗑 Trash Talk: McKinsey's $4M trash deck for NYC is 95-slides long and titled “The Future of Trash” - [see it here](. 💼 Huh? Greece defends new [six-day work week]( legislation, says it’s an ‘exceptional measure’. 🚨 July Warning: [Why are tech stocks stocks swinging?]( * DAILY SHARE [tw profile: Enguerrand VII de Coucy] Enguerrand VII de Coucy @ingelramdecoucy [tw] Oh my god New York City paid McKinsey $4,000,000 to do a study on if trash cans work 3:44 PM • Jul 9, 2024 4.24K Likes 643 Retweets 249 Replies [tw profile: Douglas A. Boneparth] Douglas A. Boneparth @dougboneparth [tw] If you're bad at spending money, just remember that NYC paid McKinsey $4 million for a study on whether trash bags should go in trash cans. 1:20 PM • Jul 9, 2024 40.4K Likes 3.97K Retweets 339 Replies [tw profile: sophie] sophie @netcapgirl [tw] ngl it must have been pretty sick to be the person at mckinsey who told new york city “hmm, maybe start using trash cans?” 7:22 PM • Jul 9, 2024 486 Likes 20 Retweets 22 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. 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