Good Morning, Traders!…👋

U.S. stock futures were trending slightly higher ahead of Thursday’s market open, with investors hoping to build on the positive reaction to Wednesday's inflation report. The Federal Reserve is now expected to move forward with a quarter-point interest rate cut at its upcoming monetary-policy meeting next week.

Tech stocks are poised to lead the charge once again after the Nasdaq Composite surged 2.2% on Wednesday, driven by mixed consumer price index data. While overall price increases showed signs of easing, core inflation—excluding food and energy—remains stubbornly high.

Early Thursday, the yield on the 10-year Treasury note ticked up to 3.672%, slightly higher than the previous day.

Next on investors' radar is the August producer price index (PPI), scheduled for release at 8:30 a.m. ET. Economists are predicting a modest 0.2% month-over-month increase in PPI, with the year-over-year rise cooling to 1.8% from 2.2% in July.

Meanwhile, gold prices are inching higher as traders brace for further U.S. inflation data, following the CPI report that has heightened expectations of a 25-basis-point rate cut by the Fed.

Happening Today

✓ 08:30 AM ET – Initial Jobless Claims

✓ 08:30 AM ET – PPI (MoM) (Aug)

✓ 12:00 PM ET – WASDE Report

✓ 01:00 PM ET – 30-Year Bond Auction

✓ 02:00 PM ET – Federal Budget Balance (Aug)

✓ 04:30 PM ET – Fed's Balance Sheet

PREMARKET SNAPSHOT📈

Market futures are slightly up, with the S&P 500 rising 0.13%, the Dow up 0.16%, and the NASDAQ showing a modest gain of 0.05%.

SECTOR SNAPSHOT✨

Today's market showed varied performances across sectors. Consumer Discretionary experienced a solid increase, continuing its positive trend. However, Consumer Staples, Energy, Financials, and Health Care all faced declines. Industrials and Materials both recorded modest gains, while Real Estate saw a slight decrease. On the upside, Information Technology led with a strong rise, and Communication Services also saw a notable improvement. Utilities ended the day with a small gain, contributing to a mixed but generally resilient market performance.

PreMarket Unusual Volume Stocks

📈 Pineapple Energy Inc (PEGY): Pineapple Energy Inc experienced a significant increase in trading activity with a volume of 36,535,113, far exceeding its average volume of 3,112,170. This surge in activity led to a 28.19% price change, reflecting heightened market interest.

📈 Smart for Life Inc (SMFL): Smart for Life Inc saw an extraordinary rise in volume, trading 14,436,709 shares compared to its average of 2,628,440. This dramatic increase resulted in a 58.82% price change, indicating strong investor activity.

📈 N2OFF Inc. (NITO): N2OFF Inc.'s trading volume rose to 11,174,678, significantly higher than its average of 3,004,920. The stock's price change of 46.06% mirrors this spike in trading volume.

📈 Protagenic Therapeutics Inc (PTIX): Protagenic Therapeutics Inc saw its volume rise to 7,511,380, far surpassing its average of 43,240. This increase in trading activity resulted in a 12.00% price change.

📈 Tenon Medical Inc (TNON): Tenon Medical Inc's volume spiked to 4,701,658, a substantial increase from its average of 20,640. The stock's 203.27% price change highlights the impact of the increased trading activity.

Premarket Picks

N2OFF, Inc. (NITO) saw its stock price surge by 56.83%, reaching $0.47, after it announced an update on its Solar PV Joint Venture Project with Solterra Renewable Energy Ltd.

Tenon Medical, Inc. (TNON) experienced a dramatic 210.23% increase in its stock price during early trading, hitting $9.40, following the company's filing of an 8-K form with the SEC.

Champions Oncology, Inc. (CSBR) saw its stock rise by 24.69% to $5.00 after releasing its financial results for the first quarter of fiscal 2025, which ended on July 31, 2024. The company reported a 12% increase in total revenue, reaching $14.1 million.

Smart for Life, Inc. (SMFL) saw its stock climb by 58.82% to $1.35 after news broke that HRT Financial LP, a major investment firm, had acquired a new stake in the company.

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

Top Upgrades:

1. BILL Holdings, Inc. (BILL)

Analyst Firm: Exane BNP Paribas
Upgrade: Neutral to Outperform
Price Target: $90
Yesterday's Close: $52.24

Exane BNP Paribas analyst Thomas Poutrieux has raised Bill’s rating from Neutral to Outperform and set a $90 price target.

BILL Holdings, Inc., known for its financial operations platform designed for small and midsize businesses, is projected to have a stock price target ranging from $45.00 to $100.00. The average target is set at $69.00, with a median estimate of $66.00. The company offers software-as-a-service, cloud-based payments, and spend management products.

2. Diageo plc (DEO)

Analyst Firm: BofA
Upgrade: Neutral to Buy
Yesterday's Close: $128.76

BofA analyst Andrea Pistacchi has increased Diageo’s rating from Neutral to Buy.

Diageo plc, a major player in the production and marketing of alcoholic beverages including scotch, gin, vodka, rum, tequila, wine, and beer, has an estimated stock price target between $105.44 and $167.19. The average target stands at $136.84, with a median estimate of $138.45.

3. PotlatchDeltic Corporation (PCH)

Analyst Firm: BofA
Upgrade: Neutral to Buy
Price Target: $51
Yesterday's Close: $42.55

BofA analyst George Staphos has upgraded PotlatchDeltic from Neutral to Buy, with a price target of $51.

PotlatchDeltic Corporation, a prominent Real Estate Investment Trust (REIT) that manages approximately 2.2 million acres of timberlands across several states, has a stock price target ranging from $42.00 to $55.00. The average target is $50.00, which also reflects the median estimate for the company.

Happy investing,

Maeve Grace
Editor In Chief
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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.