Good Morning, Traders!…👋

U.S. stock futures declined Monday morning after President Trump reignited trade tensions with a new tariff threat, confirming that country-specific duties will begin on August 1. The move adds fresh uncertainty to markets just as the temporary pause on his sweeping tariff policy nears its end.

Trump warned late Sunday that nations aligning with what he called the "Anti-American policies of BRICS" will face an additional 10% tariff—without exceptions. The statement came in response to criticism of U.S. trade policy at the weekend’s BRICS summit, which includes major U.S. trading partners such as China and India.

Despite a strong June jobs report that pushed the S&P 500 and Nasdaq to record highs last Thursday, the mood on Wall Street has shifted. Markets were closed on Friday for Independence Day, and trading ended early on Thursday. Now, with equities sitting near all-time highs, investors are on edge. Many fear that an escalation in trade disputes could trigger a wave of volatility just as earnings season kicks off.

Treasury Secretary Scott Bessent confirmed that letters outlining new tariff rates would be sent this week, but implementation won’t begin until August 1. That timeline gives global markets a narrow window to digest—or react to—the rapidly evolving trade landscape.

Earnings Watch

Earnings hit today from Aegon $AEG, R1 RCM $RCM, and Allovir $ALVR before open, plus Nordstrom $JWN, Altair Engineering $ALTR, and AssetMark Financial $AMK after close.

Analysts expect AEG to post $0.12 EPS with insurance sector stability, RCM to hit $0.03 EPS on healthcare tech demand, ALVR at -$0.14 EPS amid biotech challenges, JWN to deliver $0.23 EPS with retail recovery hopes, ALTR at $0.22 EPS driven by software growth, and AMK at $0.30 EPS with wealth management steady.

Happening Today

✓ 03:30 PM ET – CFTC Speculative Net Positions

✓ 04:30 PM ET – Fed's Balance Sheet

SECTOR SNAPSHOT✨

Sector performance was overwhelmingly positive on the last trading day, with nearly all sectors showing gains, including strong surges in Information Technology and Financials. Materials remained flat, indicating broad market strength.

PreMarket Unusual Volume Stocks

📈 Inno Holdings Inc. (INHD) is up +24.58% at $1.18 with significant volume, potentially driven by speculative interest despite recent Nasdaq non-compliance notifications regarding its share price.

📈 Mediaco Holding Inc. (MDIA) is gaining +20.91% at $1.10 with substantial volume, following recent reports of robust audience growth for its television and radio segments.

📈 Bit Origin Limited (BTOG) is up +8.26% to $0.1720 with high volume, likely reacting to its recent announcement of regaining compliance with Nasdaq's minimum stockholders' equity requirement.

📈 INNEOVA Holdings Limited (INEO) is seeing a +5.74% rise to $1.22 with notable volume; while recent financial results showed a significant net income drop, earlier news of strategic transformations in renewable energy may be contributing to interest.

📈 Regencell Bioscience Holdings Limited (RGC) is gaining +12.14% at $22.99 on increased volume, following its recent announcement of a joint venture to provide Traditional Chinese Medicine (TCM) treatments for COVID-19 across several regions.

Premarket Picks

Apogee Therapeutics, Inc. (APGE) shares are soaring in pre-market trading, up 43.26% to $67.99. The surge follows positive 16-week data from Part A of its Phase 2 APEX trial evaluating APG777, a potential best-in-class anti-IL-13 antibody for moderate-to-severe atopic dermatitis.

Northern Dynasty Minerals Ltd. (NAK) is up 19.57% pre-market, trading at $1.68. The rally comes after the company and its subsidiary, Pebble Limited Partnership, disclosed ongoing settlement talks with the Environmental Protection Agency (EPA).

So-Young International Inc. (SY) shares climbed 10.76% to $3.60 in early trading. The move follows news that the company has regained compliance with Nasdaq’s minimum bid price requirement.

Bit Digital, Inc. (BTBT) saw an 8.84% jump in pre-market trading, now priced at $3.20. The gain comes after the company filed a Form S-8 POS with the SEC, indicating potential updates to its employee stock plans.

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

Top Upgrades:

1. Phibro Animal Health Corporation (PAHC)

Analyst Firm: JPMorgan
Upgraded: Neutral to Overweight
Price Target: $35
Thursday's Close: $28.00

JPMorgan analyst Ekaterina Knyazkova raised her rating on Phibro Animal Health from Neutral to Overweight and increased the stock's price target from $25 to $35. Analysts have set price targets for Phibro Animal Health ranging from a low of $19.00 to a high of $35.00, with a median target of $25.00 and an average of $26.00. Phibro operates globally, producing animal health products to support the livestock and poultry industries.

2. Constellation Brands, Inc. (STZ)

Analyst Firm: Jefferies
Upgraded: Hold to Buy
Price Target: $205
Thursday's Close: $172.32

Jefferies upgraded Constellation Brands from Hold to Buy, raising its price target to $205 from the previous $194. For Constellation Brands, price targets range between $170.00 and $239.00. The median estimate stands at $200.00, while the average is slightly higher at $201.95. The company is a leading producer and marketer of beer, wine, and spirits with a global footprint.

3. Alliant Energy Corporation (LNT)

Analyst Firm: Wolfe Research
Upgraded: Peer Perform to Outperform
Price Target: $68
Thursday's Close: $61.53

Wolfe Research analyst Steve Fleishman boosted his rating on Alliant Energy from Peer Perform to Outperform, setting a price target of $68. Analysts expect Alliant Energy’s stock to fall within a target range of $61.00 to $71.00. The median forecast is $66.50, closely aligning with the average of $66.20. Alliant provides electric and natural gas utility services across the Midwest.

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.