📈 CPI @ 8:30am ET

Strategists see far deeper Fed rate cuts than the markets, Yellen disagrees with Moody’s negative outlook, Supreme Court adopts first code of conduct following controversies, House Speakers plan to avert gov shutdown faces critical last few hours, and Dubai faces down airline rivals with $50 billion jet orders...

November 14, 2023

☕️ Good Morning. Fed CPI announcement today at 8:30am ET.

The Fast Five → Strategists see far deeper Fed rate cuts than the markets, Yellen disagrees with Moody’s negative outlook, Supreme Court adopts first code of conduct following controversies, House Speakers plan to avert gov shutdown faces critical last few hours, and Dubai faces down airline rivals with $50 billion jet orders…

Your 5-minute briefing for Tuesday:

BEFORE THE OPEN

As of market close 11/13/2023.

MARKETS:

  • Stock futures flat ahead of today’s crucial inflation report.

  • Dow adds 6 points, S&P 500 and Nasdaq futures remain flat.

  • Focus on Tuesday's October consumer price index (CPI) for Fed rate insights.

  • Economists expect 0.1% monthly, 3.3% annual CPI increase; core index forecasted to rise 0.3% monthly, 4.1% annually.

  • Mixed Monday start, S&P 500 and Nasdaq down 0.1% and 0.2%, Dow gains 0.2%.

  • Watch for small business data and Fed officials' remarks.

  • Home Depot's earnings report awaited before the bell.

EARNINGS

Here’s what we’re watching this week:

  • Today: Home Depot (HD) - earnings expected: $3.58 per share (-15.6% YoY) on $35.7 billion revenue (-8.2% YoY)

  • Wednesday: Target (TGT)

    • Cisco Systems (CSCO) - earnings expected: 97 cents per share (+12.8% YoY) on $13.8 billion revenue (+3.6% YoY)

  • Thursday: Alibaba (BABA)

    • Walmart (WMT) - earnings expected: $1.41 per share (-6.0% YoY) on $149.8 billion revenue (-2.0% YoY)

  • Full earnings calendar here

NEWS BRIEFING

  • UBS Strategists See Far Deeper Fed Rate Cuts Than What Markets Are Pricing (Read More)

  • US Supreme Court Adopts First Code of Conduct Following Ethics Controversies (Read More)

  • House Speaker’s plan to avert US shutdown faces critical last few hours (Read More)

  • Yellen says she disagrees with Moody’s negative outlook on US (Read More)

  • Dubai faces down airline rivals with $50 billion jet orders (Read More)

  • Apple gets 36% of Google revenue in search deal, expert says (Read More)

  • Walmart, Target earnings to offer clues on crucial holiday season (Read More)

  • Moody’s warning on the massive US debt burden has turned into a nonevent (Read More)

  • Ban on surprise medical bills pushes more health bonds to brink (Read More)

  • Pfizer wants in on the weight loss drug market (Read More)

  • United Airlines will not resume flights to Israel (Read More)

  • Exxon makes lithium play in long-term bet on EV demand (Read More)

  • Bank of America’s $1.5B natural gas bond sale for BP casts doubt on Texas energy ‘boycott’ label (Read More)

  • Amazon cuts more than 180 jobs in gaming division (Read More)

  • Stellantis offering buyouts to about half its US salaried employees (Read More)

  • McDonald’s and Crocs are releasing a line of $75 shoes inspired by Grimace and the Hamburglar (Read More)

DEALFLOW

  • Siemens Energy $16B guarantee deal to be unveiled on Wednesday (Read More)

  • Greece starts process to sell 20% stake in National Bank (Read More)

  • UK petrol station group EG to buy Tesla ultra-fast chargers (Read More)

  • Divergent Technologies, a company providing end-to-end digital industrial manufacturing systems, raised $230M in Series D funding (Read More)

  • Imprint, a provider of co-branded credit cards for brands, raised $75M in Series B funding (Read More)

M & A:

  • Thoma Bravo, a San Francisco-based software investment firm, acquired NextGen Healthcare, a provider of cloud-based healthcare technology solutions, for $1.8 Billion (Read More)

  • Basic Resources buys Warners, Olga and True from PVH (Read More)

  • Branford-backed Lafayette acquires Actimetrics (Read More)

  • Ascend Partners-backed MSPB buys Tequesta Family Medical Center (Read More)

  • O2-backed 4M partners with LCS Facility Group (Read More)

CRYPTO

  • BlackRock announced that it was not intending to launch an XRP ETF after a fake regulatory filing began circulating on social media, sending XRP prices up 10% (Read More)

  • Taiwanese cryptocurrency exchange Bitgin is under investigation by local authorities for money laundering (Read More)

Keep the curation going! Buy the team a coffee ☕️

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