- Bull Street
- Posts
- 📈 Boeing pleads guilty
📈 Boeing pleads guilty
Boeing agrees to plead guilty, more House Democrats want Biden to quit race, this week’s inflation report could have serious implications on market, earnings season to test investors' faith in Big Tech, and Nvidia gets rare downgrade…
Smart Owl
July 08, 2024
Good morning.
The Fast Five → Boeing agrees to plead guilty, more House Democrats want Biden to quit race, this week’s inflation report could have serious implications on market, earnings season to test investors' faith in Big Tech, and Nvidia gets rare downgrade…
Calendar: (all times ET)
TUE, 7/9: Jerome Powell testimony to Senate, 10 AM
WED, 7/10: 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 Monday, July 8:
Want to gain deeper insights into public companies' financial health? Subscribe to Pulse and receive bi-weekly breakdowns of financial statements from a variety of public companies.
|
Stay informed and make better investment decisions with our expert analyses. Subscribe to Pulse today and elevate your financial acumen!
BEFORE THE OPEN
As of market close 7/5/2024. Bitcoin as of 7/7/2024.
PRE-MARKET
 |  |
MARKETS
All three major US stock indexes ended the shortened Fourth of July trading week higher as a cooling labor market increased hopes for Fed rate cuts
S&P and Nasdaq hit new ATHs again
Markets are now pricing in an ~80% chance of a September rate cut
Bitcoin fell below $55k in its worst week since 2021
Investors are looking ahead to J Pow's Congressional testimony, crucial inflation data, and European election reactions this week
EARNINGS
Constellation Brands beat Q1 profit estimates as demand for its core beer brands offset sluggish wines and spirits businesses (link)
What we're watching this week:
Thursday: Delta, PepsiCo
Friday: JPMorgan, Wells Fargo, Citigroup
Full calendar here
NEWS BRIEFING
Boeing has agreed to plead guilty to a criminal fraud conspiracy charge to resolve a DOJ investigation linked to two 737 MAX fatal crashes, a gov't official said on Sunday.
A softer-than-expected number could pressure the Fed to signal an interest rate cut is likely in September — or even open the door to one later this month.
Top House Democrats say Biden should drop out in call with Jeffries (link)
Democratic power players are circulating a proposal for Biden to exit, launch ‘blitz primary’ (link)
Labor market losing steam as unemployment rate climbs to 4.1% (link)
Fed rate cut debate to heat up as US job market cools (link)
US consumer goods companies are losing upper hand on pricing (link)
Earnings season to test investors' faith in Big Tech stocks (link)
Nvidia gets rare Wall Street downgrade on valuation concerns (link)
Tesla makes it onto Chinese government purchase list (link)
Samsung really wants to outsmart Apple in the Galaxy-iPhone battle (link)
Revolut CEO to sell part of stake in $500 million share sale, Sky News reports (link)
Kenworth announces hundreds of layoffs in chillicothe (link)
CRYPTO
Grayscale ethereum trust discount to NAV quietly switches to a premium ahead of anticipated spot ETF launch (link)
Crypto crash pushes fear & greed index to lowest since Bitcoin traded at $17K in early 2023 (link)
Automotive blockchain market to reach $4.1 billion by 2032 (link)
Investment firm Multicoin Capital promises to match SOL up to $1 million to back crypto friendly candidates (link)
Ready to take control of your finances without spending hours on research? Join The Money Maniac and master your money in just 5 minutes every Friday.
|
Transform your financial habits with minimal time investment. Subscribe to The Money Maniac today and join a community of financially savvy individuals!
DAILY SHARES
average mckinsey employee
— sophie (@netcapgirl)
11:23 PM • Jul 3, 2024
Keep the curation going! Buy the team a coffee ☕️