šŸ“ˆ Flutter debut

Draftkings challenger Flutter lists on the NYSE, Blackrock upgrades US stocks, popular ā€˜Smartlessā€™ podcast leaves Amazon for $100M SiriusXM deal, Sen. Warren pushes Powell to cut ā€˜astronomicalā€™ rates, and Musk says first human has received brain implantā€¦

Good morning.

The Fast Five ā†’ Draftkings challenger Flutter lists on the NYSE, Blackrock upgrades US stocks, popular ā€˜Smartlessā€™ podcast leaves Amazon for $100M SiriusXM deal, Sen. Warren pushes Powell to cut ā€˜astronomicalā€™ rates, and Musk says first human has received brain implantā€¦

Calendar:

  • Wednesday, 1/31: Fed interest-rate decision, 2:00p ET

  • Friday, 2/2: US unemployment rate, 8:30a ET

Your 5-minute briefing for Tuesday, January 30:

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BEFORE THE OPEN

As of market close 1/28/2024.

PRE-MARKET

MARKETS

  • US stocks rose and the S&P closed at a fresh high ahead of this weekā€™s big tech earnings and the Fedā€™s rate decision

  • The Nasdaq led indices with a 1.12% gain

EARNINGS

  • What we're watching this week:

  • Today: Microsoft, Alphabet, AMD, Starbucks, GM, UPS, JetBlue

  • Wednesday: Qualcomm, Boeing, Novo Nordisk

  • Thursday: Apple, Amazon, Meta, Royal Caribbean, Altria

  • Friday: Exxon, Chevron, Bristol Myers Squibb, AbbVie, Cigna

  • Full calendar here

NEWS BRIEFING

FanDuel parent Flutter listed on the New York Stock Exchange, its first U.S. listing, under the ticker symbol FLUT. Jefferies analysts believe Flutter could get a 20% premium on DraftKingsā€™ valuation.

The popular interview program has spent three years at Amazon. Actors Will Arnett, Jason Bateman and Sean Hayes host the show.

  • Sen. Elizabeth Warren pushes Fed Chair Powell to cut ā€˜astronomicalā€™ rates, ease housing pressure (link)

  • BlackRock upgrades US stocks, says AI-driven rally could broaden this year (link)

  • Oil steady as market waits for US response to deadly attack (link)

  • Bank mergers face tougher, slower process under OCC proposal (link)

  • Amazon is now charging prime members extra for ad-free streaming (link)

  • Elon Muskā€™s Neuralink implants brain tech in human patient for the first time (link)

  • Top Goldman Sachs executive to depart (link)

  • JPMorganā€™s Kolanovic sees tech earnings testing rich valuations (link)

  • NASCAR president talks new streaming deal, says Amazon is ā€˜here to stayā€™ in sports (link)

  • Cathie Wood buys Tesla stock as stock tumbles 25% this year (link)

  • Treasury cuts quarterly borrowing estimate to $760B (link)

  • Netflix co-founder gives $1.1B in shares to Silicon Valley Charity favored by billionaires (link)

  • Alaska Airlines plane appears to have left Boeing factory without critical bolts (link)

CRYPTO

Invesco and Galaxy Asset Management cut their spot Bitcoin ETF expense ratio from 0.39% to 0.25% (link)

Global crypto funds saw ~$500M in outflows last week (link)

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BULLISH BITES

šŸ˜Ž Good vibes: The 3 big reasons Americans are suddenly psyched about the economy.

ā˜•ļø Today: Starbucks to launch olive oil-infused Oleato drinks across the US - the same day as fourth-quarter earining.

šŸ“Š FYI: High-yield savings account vs. a CD: Whatā€™s the difference?

šŸ’° Who knew: Walmart store managers can make up to $400,000 with stock grants.

FEATURED TRADES

Before-Merger Arbitrage ($PARA)

Paramount Global, formerly known as ViacomCBS, is an American multinational media conglomerate that focuses on television, film production and distribution, and interactive media, with well-known brands such as Paramount Pictures, CBS, MTV, Nickelodeon, and Showtime.

Ticker: PARA | Price: $13.75 | Price Target: $40.43 (+194%)

Market Cap: $9B | Timeframe: N/A

šŸŽ„ Entertainment/Media | šŸšØ Event Driven | šŸ’° 1.5% Dividend | šŸ“ˆ Bullish Idea

Read the full article here. Read time: 12 min

DAILY SHARES

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