📈 New Direction for Southwest

Elliot Investment Management looks to fly Southwest in a new direction, X still blocked in Brazil, Disney and ESPN go dark on DirecTV, Nvidia wants to be one-stop shop for data centers, HP to pursue lawsuit against dead tech mogul.

Author

Evelio Silvera
September 03, 2024

Good morning.

⚡ The Fast Five → Elliot Investment Management looks to fly Southwest in a new direction, X still blocked in Brazil, Disney and ESPN go dark on DirecTV, Nvidia wants to be one-stop shop for data centers, HP to pursue lawsuit against dead tech mogul. 

Today’s briefing ahead, but first…

  • We are starting a new era for this newsletter, we have shortened the name to simply Bull Street.

  • We have added new contributors and sources for the insights and analysis we provide everyday.

  • We are working on launching a podcast so that you can listen or watch on the go.

  • We want your thoughts and ideas… later this week we will link to a survey to get your feedback and opinion on the future of Bull Street

And now…

⏱️ Your 5-minute briefing for Tuesday, September 3, 2024:

MARKET BRIEF
Before the Open

As of market close 8/30/2024.

Pre-Market

Fear & Greed

Trends

  • US stock rally broadens as investors await Fed

  • Dow notches record high close after upbeat economic data

  • Solid US consumer spending pushes against hopes for hefty Fed rate cut

  • US Futures Ease to Kick Off September

WHAT WE’RE WATCHING
Events

  • Today: ISM Manufacturing PMI, 10AM

  • Tomorrow: Job Openings and Labor Turnover Survey, 10AM

Earnings Reports

  • Today: Zscaler

  • Tomorrow: HP, Dick’s Sporting Goods, Dollar Tree, Hormel Foods

MARKET BRIEF
Headlines

Elliott Investment Management now holds 10% of Southwest Airlines' (LUV.N), opens new tab common stock, crossing the threshold that allows the hedge fund to call a special meeting at the carrier, according to a person familiar with the matter.

Musk and his companies have said they view the court orders as “illegal” and issued without due process. Musk has repeatedly called to impeach the court’s top justice, Alexandre de Moraes, and called him a “criminal.”

  • Nvidia's Huang trying to make the chipmaker a one-stop shop for data centers (link)

  • Disney networks go dark on DirecTV amid ongoing feud (link)

  • Apple Gears Up To Push Back Against Legislation Enforcing Age Restrictions In App Store (link)

  • Huawei To Release New Apple, Tesla Rivals Hours After iPhone Event (link)

  • Starlink emerges as fresh battleground between Musk, Brazil (link)

  • Tesla’s Chinese EV Sales Surge amid Rising Competition (link)

  • Hewlett Packard to pursue suit against tech mogul Mike Lynch, who died when his yacht sank (link)

  • Intel CEO's cost-cutting pitch to include Altera spin-out and retreat from German plant (link)

CRYPTO
Fear & Greed

Headlines

  • Key Week for Bitcoin and the Dollar Index (link)

  • Looser Fed policy, global macro trends point to bullish outlook for Bitcoin (link)

  • BlackRock Pioneers Asset Tokenization, Paving the Way for Blockchain’s Mainstream Adoption (link)

DAILY SHARE
On the Socials