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Market Point Down - 16 Business and Private Equity Stories We Are Following Today.
1. The markets point down again today after a down day yesterday.
2. Between escalating tensions in the Middle East, lack of clarity re the election and the uncertain prospects for a soft landing we expect a good deal of volatility in the markets over the next few weeks.
3. Nike, a somewhat embattled company, is down nearly 6% premarket.
4. Private equity funds are finding it harder to find health care services platforms to invest in and relying further on trying to improve operations and add ancillaries. A challenge.
5. KKR is considering a takeover bid for the roughly $5 billion semiconductor and electronics equipment maker ASMPT Ltd. Bloomberg. Another sign the largest PE funds are very active.
6. Humana dropped nearly 12% yesterday.
7. Blackstone and Vista Equity Partners are teaming up to buy Smartsheet for nearly $8.4 billion. The big PE funds are getting active with a vengeance.
8. Oil is rising on Middle East tensions and back near $75 a barrel.
9. Coinbase and Bitcoin each fell significantly yesterday. Coinbase more than 7%. Bitcoin opens around $62000.
10. Apollo Global Management, Inc. jumped nearly 6% yesterday and is up nearly 42% year to date.
11. Tesla reports 3rd quarter deliveries today. It's been on track to sell around 1.8 million cars this year. It's stock is up over the last month but down for the year.
12. The federal deficit is a set to baloon to a record $35 trillion. The Congressional Budget Office has projected that it could make up 6% of US GDP by the end of this year, which would far outpace the 50-year average of 3.7%. Business Insider. Debt kills countries, companies and families.
13. Americans are quitting jobs at the lowest rates since 2000.
14. General Motors had a solid quarter and delivered 660000 cars, down 2% from a year ago.
15. NVIDIA dropped more than 3.5% yesterday. Don't bet against Jensen Huang, Elon Musk or Epic.
16. Apple dropped nearly 3% yesterday amidst weak demand for the iPhone 16.
Listen at Becker Private Equity and Business Podcast.
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