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Top stories today:
- French stocks, EUR unchanged after leftist alliance wins plurality
- U.S. private equity exit value -18% YoY to $63.6B in Q2
- $600B in AI revenue required for high CAPEX spend: Sequoia report
- Hackers stole $1.38B in crypto YTD, up vs. 2023, down vs. 2022
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. French stocks, EUR unchanged after leftist alliance wins plurality but no majority
CAC still -4% since Macron called the snap elections.
The leftist alliance won 178 seats, 31% of the 577 total seats, meaning they will need to form a coalition to govern
2. U.S. private equity exit value -18% YoY to $63.6B in Q2
Likely motives: āpersistent valuation gap between buyers and sellers, election uncertainty and high interest rates.ā
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