Weekly Market Recap | Aug 12 – Aug 18

Key Takeaways

Middle Eastern sovereign wealth funds, with $4 trillion in influence, are asserting their clout by demanding local presence and tailored investment approaches from Western asset managers.
Ukraine’s military has made significant gains, advancing into Russian territory and securing control of 1,150 square kilometers of land, 82 villages and towns, and establishing a command office in Sudzha, Kursk region.
UBS Group AG is liquidating a $2.2 billion former Credit Suisse real estate fund due to heavy redemptions and a 12% asset value drop, sparked by declining office property values amidst reduced demand and higher interest rates.
The US DOJ is considering breaking up Google, potentially divesting assets like Android or Chrome and banning exclusive contracts, in the most significant antitrust action since the Microsoft case 20 years ago.

Safe Pro Group Inc., a software solutions provider, is going public on NASDAQ Capital Market on August 16, 2024, offering 1,200,000 shares at $4.25-$5.75, aiming to raise $7,935,000, to further develop its cloud-based drone imagery analysis platform utilizing AI, ML, and computer vision.
SilverBox Corp IV, a blank check company, is going public on NYSE with a $10.00 per share IPO of 20,000,000 shares on August 16, 2024, aiming to acquire businesses and assets through mergers, acquisitions, and reorganizations.
HCM II Acquisition Corp., a subsidiary of HCM Investor Holdings II, LLC, is going public on Nasdaq with a $10.00 per share IPO of 20,000,000 shares, focusing on mergers and acquisitions in various industries.
Actuate Therapeutics (ACTU) is a clinical-stage biopharmaceutical company developing innovative cancer therapies. Listed on Nasdaq at $8.00, its lead product is Elraglusib Injection for metastatic pancreatic cancer and other cancers. Headquartered in Fort Worth, Texas, since 2015.
Cantor Equity Partners, Inc. (CEP) launched its IPO on August 13, 2024, raising $100 million by offering 10 million shares at $10.00 each on the Nasdaq stock exchange. As a blank check company, CEP seeks to acquire or merge with a target

Fears of an Iranian attack on Israel are unsettling markets, with potential major impacts on stocks and rising crude oil and gold prices. Investors are on edge as geopolitical tensions add to an already volatile market.
Middle Eastern sovereign wealth funds are using their $4 trillion influence to demand local offices and practice adjustments from Western asset managers like Apollo and Blackstone.
UBS Group AG will liquidate a former Credit Suisse real estate fund valued at $2.2 billion due to heavy redemption requests and a 12% drop in asset value. The fund, largely invested in declining office properties, is impacted by reduced demand and higher interest rates, with remaining investors facing delays in receiving their returns.

Judge blocks Fox-Disney sports streaming service amid FuboTV lawsuit. Companies vow to appeal Friday’s ruling.
Google has moved its Pixel launch to August, aiming to outpace Apple’s upcoming releases. This early launch reflects Google’s growing focus on hardware,
Threads, a Meta platform, has introduced new tools for businesses and creators, including audience insights and multi-draft posting, to enhance content creation and online management.
Extended-range electric vehicles (EREVs), which run on battery power but use a small gas engine to recharge for longer trips, are gaining popularity in China. EREVs address range anxiety and cost concerns, making them a promising option for SUVs and trucks.
The Czech town of Roznov pod Radhostem will become a tech hub with a $2 billion investment from ON Semiconductor, boosting chip production and creating jobs while supporting Europe’s semiconductor industry.
The U.S. Department of Justice is considering breaking up Google after a court ruling found it monopolized the online search market. Potential remedies include divesting major assets like Android or Chrome and banning exclusive contracts. This marks the most significant antitrust action since the Microsoft case two decades ago.

Former President Donald Trump interviewed with Elon Musk, last Monday(08/12) night on X(formerly Twitter).
Ukraine’s military advanced into Russian territory, seizing 1,150 square kilometers and controlling 82 villages and towns. A military command office has been established in the occupied town of Sudzha in Russia’s Kursk region to maintain order and support the local population.
Israel is engaging in truce talks in Qatar with international mediators, including the US and Egypt, to ease tensions with Iran amid the ongoing Gaza conflict. While Hamas is not directly participating, mediators will update them on the discussions, which focus on a proposed cease-fire, hostage exchanges, and increased aid to Gaza. The negotiations face challenges, including disagreements on the terms and duration of the truce.
Thailand’s Constitutional Court ousted Prime Minister Srettha Thavisin, highlighting the royalist establishment’s enduring power. The ruling raises uncertainty for the Thaksin-backed Pheu Thai party as they prepare to select a new leader.

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