Welcome Back,

IPOs are coming back, one of them being your grocery delivery app.

Together with Sauce Bae 🤝🏽

^{Sauce Bae: The healthy low sodium pineapple habanero and turmeric infused hot sauce that was featured on the multi-million viewer show Hot Ones.}

Market Headlines 👀 

• Apple (AAPL) Iphone 14 was the most shipped smartphone through the first half of this year globally.

• OpenAI announces ChatGPT for corporations with its newest enterprise suite.

• Doordash (DASH) announces AI powered voice ordering technology.

• Instacart (CART) Instacart grocery delivery app files for its IPO and will become one of the few private tech companies to come public this year.

• Klaviyo (KVYO) marketing automation company files to go public later this year.

• Goldman Sachs (GS) is selling down its wealth advisory business.

• Databricks is having discussions to raise a private round at a $43b valuation.

• Rite Aid (RAD) company is preparing to file for chapter 11 bankruptcy in the coming weeks.

Earnings 💸

• No major earnings to report today! But some big software names to report through the week, calendar below.

  S&P 500 Heat Map

Recap Around the Street 🧠

Stocks stuck in between 50% remain above there 200d moving average as we approach end of month and head into historically the worst month for stocks (September).

This reflects the preferred hedge against short term event risks as longer dated vol protection is viewed as less desirable despite its relative cheapness.(Contributed by Benjamin Lavine, CIO at 3D/L Capital).

Market Preview 🎞️

• Tuesday, August 29th: JOLTS job openings; consumer confidence; Dallas Fed services activity

• Tuesday earnings: Nio (NIO), Best Buy (BBY), HP (HPQ),and Pinduoduo (PDD)

• Wednesday, August 30th: MBA mortgage applications; ADP employment change; trade balance; Q2 second revision GDP; Personal consumption; pending home sales

• Wednesday earnings: Crowdstrike (CRWD), Salesforce (CRM), Okta (OKTA), Chewy (CHWY), and Veeva Systems (VEEV)

• Thursday, August 31st: Weekly jobless claims; Challenger job cuts; PCE (personal income and spending)

• Thursday earnings: UBS (UBS), Polestar (PSNY), Broadcom (AVGO), MongoDB (MDB), LuluLemon (LULU), and SentinelOne (S)

• Friday, September 1st: US monthly jobs report; ISM manufacturing/prices paid/ employment/ new orders; Ward vehicle sales

• —> Podcast spotlight: Pounding the Table 👊 : listen now; where you will find in-depth analysis around these highlights, read company deep dives, and interviews with public CEO's!

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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