📈 Wall Street's 'KHive'

Wall Street’s ‘KHive’ fired up to back Harris, Wiz rejects Alphabet’s $23 billion offer, SEC approves first spot Ether ETFs to start trading Tuesday, Xi cements role as ‘Chief Economist,’ and Google cancels plans to kill off cookies…

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The Fast Five → Wall Street’s ‘KHive’ fired up to back Harris, Wiz rejects Alphabet’s $23 billion offer, SEC approves first spot Ether ETFs to start trading Tuesday, Xi cements role as ‘Chief Economist,’ and Google cancels plans to kill off cookies…

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Calendar: (all times ET)

  • WED, 7/24: New home sales, 10:00 AM

  • THU, 7/25: GDP, 8:30 AM

    • Initial jobless claims, 8:30 AM

    • Durable-goods orders, 8:30 AM

  • FRI, 7/26: PCE index, 8:30 AM

    • Consumer sentiment, 10:00 AM

Your 5-minute briefing for Tuesday, July 23:

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BEFORE THE OPEN

As of market close 7/22/2024

PRE-MARKET

MARKETS

  • US stocks surged yesterday as investors bought back in after a major tech selloff

    • S&P had its best day since early-June

  • Oil fell to a five-week low

EARNINGS

  • What we're watching this week:

    • Today: Tesla, Alphabet, Spotify, UPS, Visa

    • Wednesday: Chipotle, Ford, AT&T, IBM

    • Thursday: American Airlines

  • Full calendar here

NEWS BRIEFING

Democratic donors join officials in endorsing vice president. Lazard president predicts more in finance will come around.

CEO Assaf Rappaport told employees the company would pursue an IPO as originally planned.

  • Wall St closes higher as investors return to megacap stocks category (link)

  • SEC approves first spot Ether ETFs to start trading Tuesday (link)

  • Xi cements role as ‘Chief Economist’ shrinking space for debate (link)

  • Google cancels plans to kill off cookies for advertisers (link)

  • Tesla to use humanoid robots next year (link)

  • Warner Bros. Discovery's TNT Network matches bid for NBA rights (link)

  • Nvidia preparing version of new flagship AI chip for Chinese market, Reuters reports (link)

  • Intel identified a microcode issue causing instability in some 13th/14th Gen desktop processors. A patch release is planned for mid-August (link)

  • McDonald's extends $5 meal deal at most US outlets into August (link)

  • Big Lots closing 3 Connecticut locations (link)

  • Meta's mass layoff severance agreements illegal (link)

CRYPTO

  • SEC approved the first spot Ethereum ETFs to start trading on July 23 (link)

  • US Bitcoin ETFs hit a record $17 billion in net inflows (link)

  • Hong Kong launched Asia's first inverse Bitcoin ETF (link)

  • Superstate introduced a tokenized fund using the "cash and carry" strategy (link)

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