TLDR

MARKET RECAP → The S&P 500 (VOO) and Nasdaq (QQQ) jumped back to new record highs Thursday as hopes of lower inflation experienced a revival. Spirits were lifted following news that the European Central Bank lowered its annual inflation and growth forecasts (both things that typically pressure Central Banks to lower rates).

BANK RESCUES GO PRIVATE → 💼 In a trend of private equity playing hero, NYCB's $1 billion lifeline, spearheaded by Mnuchin's Liberty Strategic Capital, underscores the swift, behind-the-scenes maneuvers saving banks from market perils and speculative spirals.

AI UNIFIES FACEBOOK VIDEOS → 🎥 Meta's (META) bold AI pivot aims to streamline Facebook's video vibe with a single model, promising a smarter, seamless watch experience that's already boosting Reels engagement and setting the stage for a hyper-connected content future.

MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Bank Rescues Go Private

💰 Private Equity to the Rescue: New York Community Bank's recent $1 billion-plus cash infusion, led by $450 million from Steven Mnuchin's Liberty Strategic Capital, exemplifies a growing trend of private equity stepping in to support struggling banks, offering a lifeline amid financial turbulence.

🔒 Speed and Secrecy: The preference for private equity deals over public market fundraising highlights the need for swift and discreet capital injections. Public attempts can trigger stock volatility and speculation, as seen with Silicon Valley Bank's collapse, underscoring the delicate balance banks must maintain in their financial strategies.

🤝 Mnuchin's Intervention: Former Treasury Secretary Mnuchin's proactive outreach to NYCB, drawing on his experience with bank turnarounds, signals a vote of confidence in the bank's stability. This move grants NYCB crucial time to address its issues, demonstrating the strategic importance of private equity in stabilizing the banking sector.

TODAY’S TOP NEWS

AI Unifies Facebook Videos

🤖 AI Overhaul: Meta (META) is developing a single AI system to revolutionize Facebook's video recommendations across all platforms, aiming to merge the Reels and traditional video services under one tech umbrella by 2026, as part of a broader, ambitious AI strategy involving billions in Nvidia (NVDA) tech.

🚀 Performance Boost: The new model architecture has already shown promise, boosting Reels watch time by 8% to 10% on the Facebook app, demonstrating a more efficient learning process from data compared to previous systems.

📈 Future Vision: Meta's "phase 3" focuses on extending this unified AI model across its entire video ecosystem, potentially enhancing user engagement and content relevancy. This approach could lead to a more responsive and interconnected content experience, where users' interactions with one product influence recommendations in another.

KEEP READING

MoneyLion roars ahead with positive earnings (American Banker - paywall)

New Jersey man charged with trafficking 675 SpaceX Starlink terminals (CNBC)

Epic Games says Apple retaliated over lawsuits by banning company’s developer account (CNBC)

Elon Musk’s pick for district attorney of Texas’ Travis County lost on Tuesday (CNBC)

AI is the talk of the town, but businesses are still not ready for it, survey shows (CNBC)

Landmark rule requires some companies to share how much they pollute. But it was scaled back (CNN)

Tesla’s Berlin plant shut after arson attack on electricity pylon. Far-left group claims responsibility (CNN)

Apple iPhones sales fall 24% in China amid competition and headwinds (CNN)

Global pop star says she can’t afford to take a week off due to how little she gets paid from streaming (Fortune)

The Highest-Paid Actors Of 2023 (Forbes)

Know Your Liquidity Needs to Invest Smarter (ML)

Top 15 Side Hustles for Women in 2024 (ML)

2024 Salary Increase Projection: What to Expect? (ML)

How to Find Free Instant Online Cash Advances (ML)

BULL VS. BEAR

NOTABLE POSTS

WHAT WE’RE WATCHING

OUR FAVORITE TOOLS & RESOURCES

• The Market Ear — Live news, analysis and commentary on what moves markets and trading

• Coinmarketcap.com — crypto market data

• Finviz — financial visualizations

• Trading Economics — Economic calendar

• CME FedWatch Tool — Market-implied probabilities of future levels of interest rates 

• Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett

• ChatGPT — Large language model-based chatbot powered by generative AI

• Vimcal — Lightning-fast calendar and AI scheduling assistant

• Notion AI — Notion AI is a writing assistant that can help you write, brainstorm, edit, summarize, and more.

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