Dow, S&P 500, Nasdaq futures slide as focus turns to jobs report to test rate-cut bets

💵 Swedish fintech Klarna aims to raise up to $1.27 billion in long-awaited IPO:

Swedish fintech Klarna is looking to raise as much as $1.27 billion in its much-anticipated U.S. initial public offering, a regulatory filing showed on Tuesday.

The company, which has been eyeing a New York listing for years, paused its plans in April due to choppy global markets after the U.S. under President Donald Trump announced sweeping tariffs on major trading partners.

Klarna and some of its investors plan to sell 34.3 million shares in the IPO, with the price expected to be between $35 and $37 per share. Reuters reports.


🍝 Kraft Heinz to split and become separate companies 10 years after their packaged-food megamerger:

Kraft Heinz said on Tuesday it would split into two publicly-listed companies, one focusing on the sauces business and the other on groceries, as the U.S. packaged goods maker aims to revive growth after years of muted sales.

The one, called the "Global Taste Elevation Co," houses brands such as Heinz, Philadelphia and Kraft Mac & Cheese, while the other, called "North American Grocery Co," consists of Oscar Mayer, Kraft Singles and Lunchables labels.

The sauces unit raked in about $15.4 billion in sales in 2024, while the grocery business generated about $10.4 billion in sales. Yahoo Finance reports.


🏛️ Fed at a potential pivot point on jobs as storylines diverge:

Job growth over the last three months has hit one of the weakest patches, outside the pandemic, since the U.S. economy was limping to recover from the 2007 to 2009 financial crisis and recession.

Yet the unemployment rate is the same as it was a year ago at 4.2%, around Federal Reserve estimates of full employment.

Wage growth of roughly 4% annually is enough to keep workers ahead of inflation but not so much it raises inflation concerns. Yahoo Finance reports.


🤖 Winklevoss bitcoin twins' Gemini seeks up to $317 million in US IPO:

Gemini is seeking a valuation of up to $2.22 billion in its U.S. initial public offering, the cryptocurrency exchange said on Tuesday, following a blockbuster debut by rival Bullish earlier this year.

The company, backed by billionaire twins Cameron and Tyler Winklevoss, plans to sell 16.67 million shares at $17 to $19 each, raising as much as $317 million at the top of the range.

Recent IPOs, including those of digital bank Chime Financial and a space technology firm, drew strong investor demand on their first day of trading.

Goldman Sachs and Citigroup are lead bookrunners on the deal. Yahoo Finance reports.


✈️ Boeing lands fresh 30 jet order as Macquarie Airfinance expands fleet ambitions:

Boeing Company announced winning an order for 30 737-8 jets from Macquarie AirFinance.

The 737-8, recognized for its versatility, seats up to 210 passengers based on configuration and offers a range of 3,500 nautical miles (6,480 km).

With this order, Macquarie AirFinance will expand its 737 MAX portfolio to 70, providing its airline customers with access to the latest generation aircraft.

This order now makes up nearly 25% of Boeing’s 737 MAX order book. Benzinga reports.


⚙️ Blackstone-backed Legence targets nearly $3 billion valuation in US IPO:

Engineering and maintenance services provider Legence is targeting a valuation of up to $2.95 billion in its U.S. initial public offering, it said on Tuesday, as the new listings market kicks back into action after the seasonal summer slowdown.

San Jose, California-based Legence, a Blackstone portfolio company, is seeking up to $754 million by offering 26 million shares priced between $25 and $29 apiece. Yahoo Finance reports.

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