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📈 Traders bet on wild swings
CPI report set to test the market, carry-trade blowup haunts markets, bonds are back as a hedge, investors snap up money market funds, and CrowdStrike accepts award for ‘most epic fail’…
Smart Owl
August 12, 2024
Good morning.
The Fast Five → CPI report set to test the market, carry-trade blowup haunts markets, bonds are back as a hedge, investors snap up money market funds, and CrowdStrike accepts award for ‘most epic fail’…
Calendar: (all times ET)
Today: Monthly Federal budget, 2:00 PM
Tomorrow: Producer price index (PPI), 8:30 AM
Your 5-minute briefing for Monday, August 12:
BEFORE THE OPEN
As of market close 8/9/2024. Bitcoin as of 8/11/2024.
PRE-MARKET
 |  |
MARKETS
US stocks rose on Friday to build on its recent comeback
All three major indexes nearly reversed the week's losses
Traders are pricing in a 51% chance of a 50 bps rate cut in September
Asia spot LNG is at a seven-month high amid Russian supply concerns
Investors are bracing for 1%+ swings ahead of Wednesday's crucial CPI print
EARNINGS
What we're watching this week:
Tuesday: Home Depot
Wednesday: UBS, Cisco
Thursday: Walmart, Alibaba, Applied Materials
Full calendar here
NEWS BRIEFING
As Wall Street nears the end of a tumultuous summer, the focus has shifted to this week’s consumer prices report.
CrowStrike's president, Michael Sentonas, took the stage at the Pwnie Awards to accept the award for Most Epic Fail.
Carry-trade blowup haunts markets rattled by rapid-fire unwind (link)
Harris says she would never interfere in Fed independence (link)
Investors snap up money market funds on fears of a slowdown (link)
Oil refiners in US slow down, stoking global crude glut worries (link)
Bonds are back as a hedge after failing investors for years (link)
Meta beats censorship lawsuit by RFK Jr's anti-vaccine group (link)
'Coerced' JPMorgan Chase seeks to end NY lawsuit against Russia's VTB Bank (link)
SEC says its settled fraud charges against Ideanomics' current (link)
Stellantis to lay off up to 2,450 factory workers as classic Ram production ends (link)
Dell staff say they aren't surprised about layoffs following its AI pivot (link)
CRYPTO
DAILY SHARES
Investment banking analysts buying a Rolex, Gucci loafers, and Patagonia vests after seeing their associates and VPs wearing them
— litquidity (@litcapital)
10:41 PM • Aug 7, 2024
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