FlexAI Launches with $30 Million in Seed Funding to Deliver Universal AI Compute ========== FlexAI, the universal AI compute company, has launched with $30 million in seed funding led by Alpha Intelligence Capital (AIC), Elaia Partners, and Heartcore Capital. The company aims to address the obstacles inhibiting AI innovation by rearchitecting compute infrastructure to accelerate breakthroughs in AI. FlexAI's universal AI compute allows developers to build and train AI applications with heterogeneous compute architectures. The company works with hardware leaders and cloud providers, including AMD, Amazon Web Services, Google Cloud, Intel, and NVIDIA. FlexAI plans to unveil its first commercial product, an on-demand cloud service, later this year. The company is headquartered in Paris and is founded and led by veterans from Apple, Intel, NVIDIA, Tesla, Lifen, and Zoox. Investors in FlexAI include Bpifrance, Frst Capital, Motier Ventures, Partech, and InstaDeep CEO Karim Beguir. https://www.tradingview.com/news/reuters.com,2024-04-24:newsml_GNX6ClM04:0-flexai-launches-with-30-million-in-seed-funding-to-deliver-universal-ai-compute/

Walmart-Backed Digital Marketing Company Ibotta Set For IPO Amid AI Buzz: Details ========== Ibotta, a digital marketing company backed by Walmart, is set to have an initial public offering (IPO) and aims to raise $577.3 million with a valuation of around $2.7 billion. The company plans to offer 6.56 million shares of its Class A common stock at $88 per share. The IPO comes as there is increased interest in artificial intelligence (AI) and optimism about the U.S. IPO market. Ibotta was incorporated in 2011 and will trade on the New York Stock Exchange under the ticker symbol 'IBTA.'

Walmart-Backed Digital Marketing Company Ibotta Set For IPO Amid AI Buzz: Details — TradingView News

Dollar soars as investors eye ECB rate cuts, yen hits new 34-year low ========== The euro dropped to its lowest level in five months after the European Central Bank signaled it could soon cut rates. The dollar's rally pushed the Japanese yen to a new 34-year low. The ECB is likely to start cutting rates in the summer, while the Federal Reserve may hold off until later in the year. The difference in interest rate expectations has pushed the gap between U.S. bond yields and German euro zone benchmark yields to the highest since 2019, boosting the dollar. The strong dollar also affected the British pound, which was trading at its lowest since mid-November. The Japanese yen remained under pressure, with the U.S. currency rising to its highest since mid-1990. Japanese authorities may intervene to support the yen. The Chinese yuan was little changed after data showed March exports contracted sharply. The dollar also gained sharply against Sweden's crown after Swedish inflation slowed more than expected in March. https://www.tradingview.com/news/reuters.com,2024:newsml_L2N3GL0NQ:0-dollar-soars-as-investors-eye-ecb-rate-cuts-yen-hits-new-34-year-low/

PIMCO trims 2024 Fed rate cut expectations to 2 after jobs report ========== U.S. bond giant PIMCO has revised its expectations for interest rate cuts by the Federal Reserve in 2024 to two, down from the previous estimate of two to three cuts. The revision comes after data showed that the U.S. economy created more jobs than expected in March. U.S. nonfarm payrolls grew by 303,000 jobs, surpassing expectations for an increase of 200,000. PIMCO's managing director and generalist portfolio manager, Mike Cudzil, stated that the economy's resilience to high interest rates suggests that it can handle higher rates. As a result, U.S. Treasury yields rose, and expectations for a rate cut in June decreased from 59% to 51%. PIMCO has been underweight duration in portfolios, as it believed the market was too optimistic about rate cuts. Traders initially expected 150 basis points of cuts in 2024, but that has now been revised down to 67 basis points, aligning with PIMCO's expectations. Cudzil mentioned the possibility of getting overweight on duration in the future. https://www.tradingview.com/news/reuters.com,2024:newsml_L2N3GE1GJ:0-pimco-trims-2024-fed-rate-cut-expectations-to-2-after-jobs-report/

Treasury Yields Below Recent Highs, Jobs Data Awaited ========== The yield on the US 10-year Treasury was around 4.34% on Friday, remaining below four-month highs of 4.4% touched early in the week. Traders are awaiting the key jobs report due later in the day to adjust their bets for the timing of the first interest rate cut by the Fed. The odds for an ease in monetary policy in June currently stand around 65%. Fed Chair reinforced that it will likely be appropriate to begin lowering the policy rate at some point this year. The US economy continues to show strength with a slight cooling in the labor market.

Treasury Yields Below Recent Highs, Jobs Data Awaited — TradingView News

US 10-Year Treasury Yield Slumps from 4-Month High ========== The yield on the US 10-year Treasury note sank to 4.34% after touching a four-month high of 4.38% earlier in the session. Initial jobless claims surged to a two-month high in the end of March, while the Challenger report showed that job cuts were the highest in 14 months. Data from the ISM showed that inflation for services providers slowed to a 4-year low, in addition to a moderation of growth in the sector. The yield on the 10-year note remains 50bps higher year-to-date. About 40% of the market expects the Fed to hold rates unchanged beyond June due to the broad resilience of the US economy to restrictive borrowing costs.

US 10-Year Treasury Yield Slumps from 4-Month High — TradingView News

CS MEDICA A/S Breaks Through Asian Market Barrier with Approval of Protective Nasal Gel in Malaysia ========== CS MEDICA announces the approval of CANNASEN® Protective Nasal Gel in Malaysia, marking a breakthrough in overcoming regulatory barriers in Asia. The CEO, Lone Henriksen, expresses the significance of this achievement and the potential for future opportunities in Asia. CS MEDICA plans to expand its product range throughout Asia, leveraging the insights gained and strategies developed through this process. The Protective Nasal Gel, CANNASEN®, offers a natural solution for preventing allergies, hay fever, and viral infections by forming a protective barrier over the nasal mucous membranes. CS MEDICA is a Danish-based MedTech company focused on creating over-the-counter treatments for autoimmune and stress-related diseases. They are listed on the Spotlight Stock Market in Stockholm. https://www.tradingview.com/news/reuters.com,2024-04-04:newsml_Wkr6FNzYC:0-cs-medica-a-s-breaks-through-asian-market-barrier-with-approval-of-protective-nasal-gel-in-malaysia/

Identiv, Levi Strauss, cannabis firms ========== Wall Street's main indexes advanced on Wednesday after softer-than-expected services sector data offered relief to investors worried about the Federal Reserve taking a cautious approach to monetary easing due to resilience in the U.S. economy. The Dow Jones Industrial Average was up 0.14% at 39,226.61. The S&P 500 was up 0.36% at 5,224.45 and the Nasdaq Composite was up 0.49% at 16,320.81. The top three S&P 500 percentage gainers were GE Aerospace, up 7.9%; NRG Energy, up 6.1%; and Caesars Entertainment, up 3.8%. The top three S&P 500 percentage losers were Ulta Beauty Inc, down 14.5%; Intel Corp, down 7.3%; and Estee Lauder, down 4.3%. The top Nasdaq percentage gainer was ARCA Biopharma, up 78.4%. The top Nasdaq percentage loser was DigiAsia Corp, down 42.6%. Levi Strauss & Co was up 0.9%. Identiv Inc was down 18.2%. Aurora Cannabis Inc was up 39.5%. Canopy Growth Corp was up 6.5%. Tilray Brands Inc was up 13.6%. Canadian cannabis firms gained on the potential for lower taxes in the budget next week. https://www.tradingview.com/news/reuters.com,2024:newsml_L3N3GC1XL:0-identiv-levi-strauss-cannabis-firms/

Relentless US credit demand seen driving second-quarter rally ========== Investors are scrambling to lock in returns before the Federal Reserve cuts rates, driving a rally in the US corporate bond market. Credit markets are experiencing a buying frenzy as investors bet on a soft landing by the Fed, taming inflation without causing a recession, and then cutting interest rates later this year to support growth. The premium paid by companies over Treasuries, called credit spreads, on investment grade rated and junk-rated bonds touched their tightest levels in two years. Large bond investors such as insurance companies and pension plans are seeing an influx of money from clients looking to capitalize on higher interest rates, leading them to seek corporate bonds. However, there may not be enough new issuance to meet the demand. In the first quarter, investment grade companies raised a record $538 billion, which is 40% of the expected $1.3 trillion of bond supply for the entire year. Morgan Stanley's credit strategist Vishwas Patkar believes spreads could go as low as 75 basis points, levels not seen since the 1990s, if a soft landing is achieved. Bank of America strategists expect spreads to tighten to around 80 basis points over the next month. The strong demand for corporate debt is allowing companies to fund themselves more cheaply, but some investors warn that tighter spreads mean they are getting paid less for the risk they take on. Despite the risks, Wall Street strategists believe the market's tailwind is likely to continue for now, driven by insurance companies buying corporate bonds to match a rise in liabilities and reinvestments of coupons being paid by companies on their existing bonds. https://www.tradingview.com/news/reuters.com,2024:newsml_L2N3G51V6:0-relentless-us-credit-demand-seen-driving-second-quarter-rally/

Stocks Set to Open Higher as Investors Await U.S. Jobs Data and Fed Speak ========== June S&P 500 E-Mini futures (ESM2024) are up +0.37% and June Nasdaq 100 E-Mini futures (NQM2024) are up +0.54% this morning. Wall Street's major averages closed mixed, with the benchmark S&P 500 reaching a new all-time high. Estee Lauder climbed over +6% after an upgrade from Bank of America. Walgreens Boots Alliance advanced more than +3% after reporting better-than-expected Q2 results. RH surged over +17% after providing a stronger-than-expected FY24 revenue growth forecast. MillerKnoll tumbled more than -18% after reporting mixed Q3 results and issuing below-consensus Q4 guidance. U.S. core PCE price index came in at +0.3% m/m and +2.8% y/y in February. U.S. personal spending climbed +0.8% m/m in February. U.S. personal income rose +0.3% m/m in February. Fed Chair Jerome Powell stated that the U.S. central bank is not in a hurry to lower interest rates. U.S. rate futures have priced in a 3.9% chance of a rate cut in May and a 65.9% probability of a rate cut in June. The upcoming week will feature the U.S. Nonfarm Payrolls report for March and other economic data releases. Several Federal Reserve officials, including Jerome Powell, will be making appearances this week. China's Shanghai Composite Index closed higher, with signs of economic recovery boosting sentiment. Japan's Nikkei 225 Stock Index closed lower due to a slight deterioration in confidence among large manufacturers. Pre-market U.S. stock movers include Torrid Holdings, Applied Therapeutics, T-Mobile, Cameco, Devon Energy, and Oracle. Major European markets are closed for Easter Monday. Asian stock markets settled mixed. United States 10-year rates are at 4.202%. #StockMarket #UsJobsData #FederalReserve

Stocks Set to Open Higher as Investors Await U.S. Jobs Data and Fed Speak — TradingView News

Stocks Tread Water Before the Open as Investors Brace for U.S. Economic Data ========== Stock futures are mixed as investors await U.S. economic data. Yesterday, major indexes on Wall Street closed higher, with Cintas and Merck & Company among the top gainers. Fed Governor Christopher Waller stated that there is no urgency to cut interest rates, but market expectations for rate cuts may need to adjust. U.S. rate futures have priced in an 8.7% chance of a rate cut in May and a 55.4% chance in June. Today, focus is on the final U.S. GDP reading, U.S. Chicago PMI, U.S. Pending Home Sales, U.S. Michigan Consumer Sentiment Index, and U.S. Initial Jobless Claims. In the bond markets, U.S. 10-year rates are at 4.228%. In Europe, the Euro Stoxx 50 futures are up, while the U.K.'s GDP fell by 0.3% in Q4. In Asia, China's Shanghai Composite Index closed higher, and Japan's Nikkei 225 closed lower. Pre-market U.S. stock movers include GameStop, Google, MillerKnoll, Sprinklr, and Citi. Today's U.S. earnings spotlight includes Walgreens Boots, BRP Inc, Semtech, and Oxford Industries. #StockMarket #UsEconomicData #Fed #InterestRates #Gdp #ChicagoPmi #PendingHomeSales #MichiganConsumerSentimentIndex #InitialJoblessClaims #BondMarkets #EuroStoxx50 #UkGdp #China #Japan #PremarketStockMovers #EarningsSpotlight

Stocks Tread Water Before the Open as Investors Brace for U.S. Economic Data — TradingView News