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TOKYO (AP) — Asian shares declined Wednesday as markets awaited a decision on interest rates by the Federal Reserve. Trade data for Japan showed exports fell 0.8% last month from a year ago, marking the second straight month of declines, as exports to China lagged, dropping 11%. Markets have see-sawed for weeks on uncertainty about whether the Fed is done with its market-shaking hikes to interest rates. The Fed began its latest meeting on interest rates Tuesday, with an announcement scheduled for Wednesday. Traders are split on whether the Fed may raise rates again this year, but they’re largely expecting the Fed to begin cutting rates next year.

Persons: Australia's, Robert Carnell, they’re, homebuilders, Brent Organizations: TOKYO, Federal Reserve, Nikkei, Finance Ministry, ING, Dow Jones, Nasdaq, Fed, Wednesday, Traders, Instacart, Walt Disney Co, U.S . Steel, United, Detroit’s Big, Ford, General Motors, UAW, New York Mercantile Exchange, U.S Locations: Hong, Shanghai, Japan, China, U.S, Europe, Asia, Pacific, Beijing

☆ US debt rises to $33 trillion as government shutdown looms
▼ + stars: | 2023-09-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —As the US national debt passes $33 trillion and a government shutdown looms, Wall Street feels defensive. What’s happening: The gross national debt has grown at an alarming pace since then — by $1 trillion in the last three months alone. Political finger pointing around what caused the accelerated debt accrual, meanwhile, has left the government at an impasse around the budget. The recent increase in interest rates has already made it much more expensive for the government to pay back what it owes. That would leave the door open for another rate increase, which could come when the following meeting concludes, on November 1.

Persons: Fitch, ”, Michael Peterson, Peter G, Peterson, Biden, Gary Schlossberg, Jennifer Timmerman, Gregory Daco, Bryan Mena, Jerome Powell, Instacart, Jordan Valinsky Organizations: CNN Business, Bell, New York CNN, AAA, AA, GOP, UAW, Wells, Investment Institute, Fed, Federal, Financial, Walmart Locations: New York, —, Amazon

☆ Insider Today: Ex-Goldman partners dish
▼ + stars: | 2023-09-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

This post originally appeared in the Insider Today newsletter. In today's big story, former Goldman Sachs partners explain what led them to leave their prestigious positions within the bank. A recent Insider investigation by Dakin Campbell and Emmalyse Brownstein found that at least 202 partners have left the firm during CEO David Solomon's volatile five-year tenure. And while Solomon's strategic missteps were a key talking point for many, not all the former partners bashed the CEO. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Goldman Sachs, it's, Goldman, David Solomon, Dakin Campbell, Emmalyse Brownstein, David Solomon's, Dakin, It's, Julian Salisbury, Dina Powell McCormick, Fred Baba, Solomon, Lloyd Blankfein, Apoorva Mehta, Instacart, Daniel Sundheim, Michael Moritz, Here's, Instacart's, Beck, Apoorva, Mehta, Tyler Le, Steve Squeri, Squeri, AEW, Tony Khan, Lauren Boebert, Anna Moneymaker, General Merrick Garland, Kim Kardashian, General Mills, Getty, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, D1 Capital Partners, Sequoia, Getty, Sequoia Capital, Northwestern Mutual Wealth Management's, American Express, Wrestling, WWE's, Fed, U.S, FedEx, General Locations: Wall, Silicon, What's, —, ChatGPT, Cerebral, Colorado, Mostar, Bosnia, Herzegovina, Greece, Bulgaria, Moldova, New York City, San Diego, London, New York

☆ Instacart's IPO flops as the stock slumps. Here are 7 reasons why.
▼ + stars: | 2023-09-20 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

This is one of the concerns that has turned Instacart's IPO into a flop on its second day as a public company. To be successful, an IPO must deliver a big pop to the investors who signed on to buy stock when it debuts. He came out with an analysis of Instacart's business on Tuesday, valuing the company at $29 a share. The reason: The grocery business is low-margin, so there's not a lot of room for Instacart to skim more fees. "In short, the growth in online grocery sales will be higher than total grocery sales growth, but not overwhelmingly so."

Persons: Aswath Damodaran, Fidji Simo, Instacart, Rowe Price, Damodaran, there's, Uber, Instacart doesn't Organizations: Service, Fidelity, DST Global, NYU's Stern School of Business, Instacart Shoppers, Shoppers, Tech Locations: Wall, Silicon, Aswath, COVID

☆ Watch CNBC's full interview with Instacart founder Apoorva Mehta
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Instacart founder Apoorva MehtaApoorva Mehta, Instacart founder, joins 'Squawk Box' to discuss the company's IPO offering, how he came up with the idea of Instacart, why the company didn't go public earlier when valuation was higher, and more.

Persons: Apoorva Mehta Apoorva Mehta

☆ CNBC Daily Open: High rates are still haunting IPOs
▼ + stars: | 2023-09-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Downbeat marketsU.S. markets dipped and U.S. Treasury yields rose as investors braced themselves for the outcome of the Federal Reserve's meeting. [PRO] A revival in IPO markets? But many companies are still holding off going public because of lower valuations — which is precisely what investors are looking for in today's market, CNBC Pro's Bob Pisani writes.

Persons: Europe's, Instacart, Huawei's, Justin Trudeau, Hardeep Singh Nijjar, Bob Pisani Organizations: CNBC, Treasury, Huawei, Huawei —, Canadian Locations: U.S, China, British Columbia, Ottawa, Indian, India, Canadian, today's

☆ CNBC Daily Open: High rates are still hobbling IPOs
▼ + stars: | 2023-09-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Downbeat marketsU.S. markets dipped and U.S. Treasury yields rose Tuesday as investors braced themselves for the outcome of the Federal Reserve's meeting. At its open, Instacart popped 40% to hit $42, but pared gains as investors sold off to lock in their initial gains. Analysts who once predicted China would become the biggest economy globally are perplexed as to why the country's blunting its own growth.

Persons: Kospi, Hong, Instacart, Fereidun Fesharaki, Wood Mackenzie Organizations: CNBC, Treasury, Analysts, Global Locations: Asia, Pacific, China

☆ Klaviyo stock surges 23% as investors cheer the 3rd IPO in a week
▼ + stars: | 2023-09-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Klaviyo stock soared on its debut Wednesday, within days of Instacart and Arm's initial public offerings. The software company, founded in 2012, priced 19.2 million shares on Tuesday at $30 each, giving Klaviyo about a $9 billion valuation, fully diluted. Klaviyo helps companies build user profiles for targeted marketing. In 2020 and 2021, scores of companies initiated IPOs, but many now trade below their IPO price. Still, she said the likes of Arm, Instacart, and Klaviyo offer a "good litmus test" for what's to come in 2024.

Persons: Klaviyo, Wharton, David Erickson, Erickson, IPOs, Rachel Gerring, Gerring Organizations: Service, New York Stock Exchange, Venture, Wall Locations: Instacart, Wall, Silicon, Americas

☆ Klaviyo rises 9% in muted NYSE debut after software vendor priced IPO at $30 a share
▼ + stars: | 2023-09-20 | by ( Ari Levy | ) www.cnbc.com time to read: +4 min

Klaviyo priced 19.2 million shares late Tuesday at $30 a piece, valuing the company at just over $9 billion on a fully diluted basis. Of those shares, 11.5 million were sold by the company, resulting in $345 million in cash added to the balance sheet. Instacart and Klaviyo are trying to crack open a tech IPO market that's been virtually shuttered for 21 months. The e-commerce software vendor owns roughly 11% of Klaviyo's shares, and invested $100 million in the company last year. — CNBC's Annie Palmer contributed to this reportWATCH: Klaviyo follows Instacart in tech IPO down rounds

Persons: Andrew Bialecki, Ed Hallen, Instacart, Arm, Japan's SoftBank, Klaviyo, Shopify, Bialecki, —, Annie Palmer Organizations: New York Stock Exchange, Inc, Nasdaq, Klaviyo's, CNBC Locations: Weds, U.S

☆ Instacart founder Apoorva Mehta on IPO: Excited to see what the company does in the future
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInstacart founder Apoorva Mehta on IPO: Excited to see what the company does in the futureApoorva Mehta, Instacart founder, joins 'Squawk Box' to discuss the company's IPO offering, how he came up with the idea of Instacart, why the company didn't go public earlier when valuation was higher, and more.

Persons: Apoorva Mehta

☆ Instacart's 11% plunge on second day of trading wipes out almost all of its IPO gains
▼ + stars: | 2023-09-20 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Instacart shares slumped nearly 11% in their second day of trading Wednesday, continuing a slide that began immediately after the stock hit the Nasdaq on Tuesday, and leaving it narrowly above its initial public offering price. On Monday, Instacart sold shares in its long-awaited IPO at $30 apiece. Trading under ticker symbol CART , the stock popped 40% to open at $42, but then sold off throughout the day to close at $33.70. Instacart's offering helped reignite a sleepy IPO market, which has been mostly closed since late 2021 as companies were plagued by inflationary pressures and rising interest rates. Analysts at Needham issued a hold rating on Instacart's stock in a Tuesday note.

Persons: Instacart, Uber, Gene Munster, CNBC's, Munster, it's, Needham Organizations: Nasdaq, Deepwater Asset Management

☆ Uber Eats to roll out AI features, more payment options
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

A delivery worker with a backpack of Uber Eats rides a bike in Nice, France, October 25, 2022. REUTERS/Eric Gaillard Acquire Licensing RightsSept 20 (Reuters) - Uber Technologies (UBER.N) will accept more payment options on its food delivery platform and roll out an artificial intelligence (AI)-powered assistant to help users find deals and explore different food options, the company said on Wednesday. Uber Eats will get a dedicated section to showcase promotional offers called "Sales Aisle". Food delivery platforms have been investing in AI as they attempt to offer a more curated service and make their apps more convenient. Uber said it has also tied up with federal healthcare programs such as Managed Medicaid and Medicare Advantage, and would begin accepting relevant waiver payments on both Uber and Uber Eats in 2024.

Persons: Eric Gaillard, OpenAI, Uber, Arsheeya, Shilpi Majumdar Organizations: REUTERS, Technologies, Bloomberg News, Assistance, Thomson Locations: Nice, France, Bengaluru

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Sept 20 (Reuters) - Shares of Arm Holdings fell for a fourth straight session on Wednesday after the chip designer's stellar market debut last week, with short seller interest picking up. That was up from 5.12 million shares on loan, or 2.7% of the stock's free float, on Tuesday. Short sellers need to borrow a stock to short it, and the relationship between shares on loan and shorted is normally quite close, Ortex said. Arm and Instacart were "pumped up to do the IPO," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Arm also has a limited number of publicly traded shares, with SoftBank (9984.T) holding a roughly 90% stake.

Persons: Dado Ruvic, Ortex, Peter Tuz, Caroline Valetkevitch, Lewis Krauskopf, Saqib Iqbal Ahmed, Lance Tupper, Richard Chang Organizations: REUTERS, Arm Holdings, Chase Investment, People, Thomson Locations: Charlottesville , Virginia

☆ Instacart's IPO gave investors 'everything they wanted', says venture capital firm
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInstacart's IPO gave investors 'everything they wanted', says venture capital firmRashaun Williams of Manhattan Venture Partners shares what he liked about Instacart's IPO and why other start-ups might struggle to follow in their footsteps.

Persons: Rashaun Williams Organizations: Manhattan Venture Partners

(Reuters) - U.S. stock index futures inched higher on Tuesday ahead of a Federal Reserve monetary policy meeting and as investors awaited grocery delivery app Instacart’s Nasdaq debut to assess a potential recovery in the IPO market. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. Arm Holdings last week had a stellar market debut, raising hopes of a bounce back in the initial public offering (IPO) market. Investors will closely monitor the Fed’s quarterly report on economic projections to gauge participating members’ longer-term policy outlook. While most of the key data releases on inflation are out, investors will keep an eye on U.S. housing data for August, due at 8:30 a.m.

Persons: Brendan McDermid, ”, Matthew Morgan, Alyssa Henry Organizations: Reuters, Federal, Nasdaq, New York Stock Exchange, REUTERS, Inc, Arm Holdings, Fed, Jupiter Asset, Traders, Dow e, Block, CVS Health Corp, ISI, Intel Locations: New York City, U.S, “

☆ Instacart Shares Climb 12% in Stock Market Debut
▼ + stars: | 2023-09-19 | by ( Jaewon Kang | Corrie Driebusch | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: nasdaq

☆ Instacart Prices IPO at $30 a Share, at Top End of Expectations
▼ + stars: | 2023-09-19 | by ( Corrie Driebusch | Jaewon Kang | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/retail/instacart-prices-ipo-at-30-a-share-at-top-end-of-expectations-a33bb62c

Persons: Dow Jones

☆ Watch Slow Ventures’ Sam Lessin and Axios’ Dan Primack discuss Instacart
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Slow Ventures’ Sam Lessin and Axios’ Dan Primack discuss InstacartSam Lessin, Slow Ventures co-founder, Dan Primack, business editor at Axios, joins 'The Exchange' to discuss Instacart as the company started trading on Tuesday, why advertising business matters to the grocery-delivery company, and more.

Persons: Sam Lessin, Dan Primack Organizations: Ventures, Slow Ventures

☆ Instacart's IPO will likely succeed despite a major cut to valuation, says two experts
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInstacart's IPO will likely succeed despite a major cut to valuation, says two expertsSarah Kunst, Managing Director at Cleo Capital, and Stacey Widlitz, President at SW Retail Advisors, discuss their expectations for Instacart's first day of trading.

Persons: Sarah Kunst, Capital, Stacey Widlitz, Instacart's Organizations: Retail Advisors

☆ Instacart CEO: This IPO about giving employees liquidity on stock they worked hard for
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInstacart CEO: This IPO about giving employees liquidity on stock they worked hard forFidji Simo, Instacart CEO, joins 'Squawk on the Street' to discuss why now was the time to finally go public, how the company arrived at the decision to price where they have, and

Persons: Fidji Simo

The IPO gave Instacart a valuation of nearly $9.9 billion, a fraction of the $39 billion it was worth in 2021, the company's last funding round. Reuters GraphicsSeveral startups' valuations have shrunk since 2022 as inflation, geopolitical tensions and the Federal Reserve's rapid rate hikes soured the economic climate. But a lukewarm reception to Neumora Therapeutics' (NMRA.O) IPO last week hinted at limited investor enthusiasm for new listings. Arm soared on its first day of trading but has dropped every day since then. Goldman Sachs and J.P. Morgan are the lead underwriters for Instacart's IPO.

Persons: Eric Cohn, Cheney Orr, Hogan, Riley, Instacart, Apoorva Mehta, Fidji Simo, Goldman Sachs, J.P, Morgan, Niket, Noel Randewich, Devika Syamnath, Anil D'Silva, Nick Zieminski, Richard Chang Organizations: Safeway, REUTERS, Nasdaq, SoftBank's Arm, San, Maplebear Inc, Reuters, Federal, Investors, Neumora Therapeutics, Instacart's, Thomson Locations: Tucson , Arizona, U.S, San Francisco, Bengaluru, Oakland , California

☆ Instacart has set itself up for success in the post-Covid world, says early investor Alexis Ohanian
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInstacart has set itself up for success in the post-Covid world, says early investor Alexis OhanianAlexis Ohanian, 766 founder and Reddit co-founder, joins 'Squawk Box' to discuss Instacart's IPO offering, which will be priced at $30/share, what he saw in the grocery delivery company as an early investor, growth outlook for the company, and more.

Persons: Alexis Ohanian Alexis Ohanian, Reddit

☆ Stock Market Today: Dow, Nasdaq Close Lower Ahead of Fed Meeting Tomorrow
▼ + stars: | 2023-09-19 | by ( ) www.wsj.com time to read: +1 min

Stocks closed Tuesday lower, while bond yields climbed to their highest levels in years, as the Federal Reserve's two-day September meeting got under way. Shares of Amazon.com, one of the biggest stocks in the market, dragged down indexes with a nearly 2% slide. Walt Disney’s $60 billion spending plan was not well-received: Its stock traded about 3% lower, weighing on the blue-chip Dow. The benchmark 10-year Treasury yield settled at 4.366%, its highest closing level since 2007. The two-year yield settled at around 5.109%, its highest level since 2006.

Persons: Stocks, Read, Walt Disney’s, specter Organizations: Federal, Dow, Nasdaq, Brent, Treasury Locations: Canada

☆ U.S. stocks close lower as investors take cover ahead of Fed decision
▼ + stars: | 2023-09-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

All three indexes ended the session lower in a broad sell-off ahead of the Fed's interest rate announcement on Wednesday, which is expected to culminate in a decision to leave key interest rates unchanged. The Fed is also due to release its Summary Economic Projections, including its dot plot, which should provide a glimpse into the Federal Open Markets Committee's forecast trajectory of interest rates, inflation and economic growth. On the economic front, a jump in Canada's annual inflation rate due to rising gasoline prices, and a bigger-than-expected plunge in U.S. housing starts helped feed investor uncertainty. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. Starbucks (SBUX.O) lost ground following TD Cowen's decision to downgrade the coffee chain's shares to "underperform."

Persons: Bill Northey, Helena Montana, Northey, Michael Green, Brendan McDermid, Walt Disney, Stephen Culp, Ankika Biswas, Shristi, Aurora Ellis Organizations: Disney, Dow, Nasdaq, U.S . Federal Reserve, Federal Reserve, U.S, Bank Wealth Management, Federal, Management, Fed, Maplebear Inc, chipmaker, Holdings, New York Stock Exchange, REUTERS, Arm Holdings, Dow Jones, Starbucks, General Motors, Ford Motor, United Auto Workers, NYSE, Thomson Locations: Helena, Philadelphia, New York City, U.S, Bengaluru

☆ Instacart's team was realistic when it came to assessing market demand, says Jim Cramer
▼ + stars: | 2023-09-19 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

'Mad Money' host Jim Cramer talks Instacart's IPO today and the IPO landscape moving forward. Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email

Persons: Jim Cramer

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