Good Morning, Traders!…👋

U.S. stock futures are mixed on Monday as investors anticipate the Federal Reserve's upcoming monetary policy meeting.

There is growing speculation that the Fed might implement a larger rate cut than previously expected. In today’s market, Trump Media (TRUM) shares are extending their gains, while Boeing (BA) stock is inching higher after recent declines triggered by a strike at the company’s largest union.

Oil prices have risen on the back of expectations for a rate cut by the Fed later this week, despite recent data indicating persistent weakness in Chinese domestic demand.

Meanwhile, the dollar has fallen to a one-and-a-half-week low, driven by increasing bets on a significant interest rate cut by the Fed on Wednesday.

Happening Today

✓ 08:30 AM ET – NY Empire State Manufacturing Index (Sep)

PREMARKET SNAPSHOT📈

Market futures are mixed, with the S&P 500 down 0.07%, the Dow up 0.21%, and the NASDAQ declining by 0.44%.

SECTOR SNAPSHOT✨

Today's market update shows continued growth across most sectors. Consumer Discretionary and Consumer Staples both enjoyed gains, indicating robust consumer confidence. The Energy sector saw a modest increase, while Financials experienced a slight uptick. Health Care posted a small gain, maintaining its steady performance. Industrials and Materials showed solid growth, reflecting a positive economic outlook. Real Estate had a moderate rise, signaling stability in the sector. Information Technology and Communication Services also performed well, with Information Technology continuing its upward trend. Utilities led the day with the most significant increase, highlighting strong performance in this sector.

PreMarket Unusual Volume Stocks

📈 Dermata Therapeutics Inc (DRMA): Dermata Therapeutics Inc saw a significant increase in trading activity with a volume of 7,355,865, well above its average volume of 2,189,960. This surge in activity led to a 65.19% price change, indicating strong market interest.

📈 NuCana plc ADR (NCNA): NuCana plc ADR experienced a remarkable rise in volume, trading 7,287,913 shares compared to its average of 135,560. This substantial increase resulted in a 187.80% price change, reflecting heightened investor activity.

📈 Agape ATP Corp (ATPC): Agape ATP Corp's trading volume rose to 3,628,359, significantly higher than its average of 3,080,990. The stock's price change of 25.14% aligns with this spike in trading volume.

📈 Zentalis Pharmaceuticals Inc (ZNTL): Zentalis Pharmaceuticals Inc saw its volume rise to 2,738,340, surpassing its average of 1,486,330. This increase in trading activity resulted in a 36.42% price change.

📈 Exicure Inc (XCUR): Exicure Inc's volume reached 1,980,308, a considerable increase from its average of 611,570. The stock experienced a 38.19% price change, indicating the impact of the heightened trading activity.

Premarket Picks

AdvanSix Inc. (ASIX) saw a notable surge of 16.98% in premarket, with shares climbing to $32.10. This boost follows the company’s receipt of a $12 million grant from the USDA's Fertilizer Production Expansion Program, aimed at enhancing American fertilizer production and supply chains while fostering economic growth.

Nuvalent, Inc. (NUVL) experienced an 18.93% increase in pre-market activity, bringing its stock price to $104. The rise is attributed to the company’s announcement of a public offering of common stock.

Zentalis Pharmaceuticals, Inc. (ZNTL) shares rose by 16.66% to $3.78 in pre-market trading after the FDA lifted the partial clinical hold on the company's Azenosertib studies, a positive development for the company’s ongoing research.

NuCana plc (NCNA) saw an extraordinary pre-market surge of 205.51%, with its stock price reaching $7.76. This dramatic increase follows the presentation of final data from the Phase 2 NuTide:701 study at the ESMO Congress, showcasing the effectiveness of NUC-7738 in combination with pembrolizumab for patients with metastatic melanoma who had relapsed or were refractory to prior PD-1 inhibitor therapy.

Below is a list of other hot stocks in pre-market today:

Top Upgrades:

1. Kinder Morgan, Inc. (KMI)

Analyst Firm: Morgan Stanley
Upgrade: Underweight to Equal Weight
Price Target: $24
Friday’s Close: $21.14

Morgan Stanley has revised its rating for Kinder Morgan, Inc. from Underweight to Equal Weight, maintaining the price target at $24. Analysts have set a varied range for Kinder Morgan's stock price target, with estimates ranging from a low of $19.00 to a high of $25.00. The median target is $22.50, and the average is $22.44. Kinder Morgan operates primarily in North America, focusing on energy infrastructure through its Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments.

2. Builders FirstSource, Inc. (BLDR)

Analyst Firm: Truist
Upgrade: Hold to Buy
Price Target: $220
Friday’s Close: $183.30

Truist has upgraded Builders FirstSource, Inc. from Hold to Buy, raising the price target to $220 from the previous $165. Analyst price targets for Builders FirstSource range from a low of $165.00 to a high of $205.00, with a median estimate of $182.00 and an average of $182.33.

Builders FirstSource manufactures and supplies building materials and construction services across the United States, catering to a wide range of customers, including homebuilders, subcontractors, remodelers, and consumers.

3. Oracle Corporation (ORCL)

Analyst Firm: Melius Research
Upgrade: Hold to Buy
Price Target: $210
Friday’s Close: $162.03

Melius Research has upgraded Oracle Corporation from Hold to Buy, setting a price target of $210. Oracle's stock price target ranges from a low of $130.00 to a high of $210.00, with a median estimate of $187.50 and an average of $178.12.

Oracle is a global leader in enterprise IT solutions, offering a broad suite of cloud-based applications, including Oracle Fusion ERP, performance management tools, and services for sales, service, and marketing. Oracle also provides specialized platforms like Cerner for healthcare and NetSuite for business management.

Happy investing,

Maeve Grace
Editor In Chief
Premium Trade Alerts

Important: This newsletter does not provide investment advice. The stocks mentioned should not be taken as recommendations. Your investments are solely your decisions.

Disclosure: I hold no positions in any companies mentioned, either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.