Welcome Back,

Another big earnings week ahead!

Together with 🤝🏽

Market Headlines 👀 

• Oil set sets a high not seen since January 2022.

• Apple (AAPL) announces new features in future IPhones announcing charging port changes and introducing titanium edges.

• Doordash (DASH) is working on a AI chatbot to speed up food ordering.

• Advanced Micro Devices (AMD) announces it will invest $400 million in India by 2028.

• Private equity fundraising reaches lowest in 5 years.

• China manufacturing comes in lower for a fourth straight month, providing optimism for a stimulus soon.

Earnings 💸

• SoFi Technologies (SOFI)

  • EPS: $-0.06 beats (exp. $-0.07)

  • Revenue: $489m beats (exp. $473.4m)

• On Semiconductors (ON)

  • EPS: $1.33 beats (exp. $1.21)

  • Revenue: $2.09b beats (exp. $2.02b)

  S&P 500 Heat Map

A Note From Masterworks

A Banksy got everyday investors 32% returns?

Mm-hmm, sure. So, what’s the catch?

We know it may sound too good to be true. But thousands of investors are already smiling all the way to the bank, thanks to the fine-art investing platform Masterworks.

These results aren’t cherry-picking. This is the whole bushel. Masterworks has built a track record of 14 exits, including net returns of +17.6%, +21.5%, and +35.0%, even while financial markets plummeted.

But art? Really? Okay, skeptics, here are the numbers. Contemporary art prices:

• outpaced the S&P 500 by 131% over the last 26 years

• have the lowest correlation to equities of any asset class

• remained stable through the dot-com bubble and ’08 crisis

Got your attention yet? Readers can skip the waitlist with this exclusive link.

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Recap Around the Street 🧠

Still to be determined whether we see active listings recover to pre pandemic levels and to what extent multi family supply online will compete with single family listings.(Contributed by Benjamin Lavine, CIO at 3D/L Capital).

5% yields helping to drive significant savings seeking near risk free yields. (Contributed by Benjamin Lavine, CIO at 3D/L Capital).

Market Preview 🎞️

• Tuesday, August 1st: JOLTS job openings; S&P Global US manufacturing PMI; Construction spending; Ward vehicle sales

• Tuesday earnings: Uber (UBER), Advanced Micro Devices (AMD), and Pintrest (PINS)

• Wednesday, August 2nd: MBA mortgage applications; ADP employment

• Wednesday earnings: Shopify (SHOP), Mercado Libre (MELI), Robinhood (HOOD), Unity Technologies (U), Paypal (PYPL), Qualcomm (QCOM), Dynatrace (DT) and CVS Pharmacy (CVS)

• Thursday, August 3rd: Weekly jobless claims; Challenger job cuts; Nonfarm productivity; durable goods; ISM services index

• Thursday earnings: Apple (AAPL), Amazon (AMZN), Square (SQ), Airbnb (ABNB), Draftkings (DKNG), Coinbase (COIN, Cloudfare (NET), Digital Ocean (DCON), Atlassian (TEAM), Expedia (EXPE), Fiverr International (FVRR) and Moderna (MRNA)

• Friday, August 4th: US employment report

That’s all for today, folks! We’ll be back around the same time tomorrow with a curated list of important news, economic data and market highlights. 

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