Good Morning, Traders!…👋

U.S. stock futures edged higher Wednesday as investors remained cautious ahead of the Federal Reserve’s interest rate decision, while geopolitical tensions in the Middle East continued to cast a shadow over markets.

The Israel-Iran conflict has kept Wall Street on edge since last week, and concerns have intensified over potential U.S. involvement. President Trump warned Tuesday that “our patience is wearing thin” and met with his national security team, prompting speculation the U.S. could back Israel’s military efforts. Iran has responded with threats of missile strikes on U.S. bases in the region if Washington crosses the line.

Meanwhile, oil prices pulled back after recent gains. Brent crude dipped below $76 per barrel, and West Texas Intermediate hovered just above $74, reflecting some cooling in risk sentiment.

Investors now turn their attention to the Fed’s rate announcement at 2 p.m. ET. While policymakers are expected to hold rates steady, the market will closely analyze the Fed’s updated dot plot for signs of potential rate cuts later this year. Chair Jerome Powell’s press conference will also be key for clues on how the Fed views inflation, trade tensions, and overall economic momentum.

Earnings Watch

Earnings hit today from Progressive $PGR, Kroger $KR, and GMS $GMS before open, plus Smith & Wesson $SWBI and Gorilla Technology $GRRR after close.

Analysts expect PGR to post $2.45 EPS with insurance strength, KR to hit $1.12 EPS, GMS at $1.15 EPS, SWBI to deliver $0.22 EPS with firearm demand, and GRRR at $0.05 EPS.

Happening Today

✓ 08:30 AM ET – Initial Jobless Claims

✓ 08:30 AM ET – Housing Starts (May)

✓ 08:30 AM ET – Building Permits (May)

✓ 10:30 AM ET – Crude Oil Inventories

✓ 11:30 AM ET – Atlanta Fed GDPNow (Q2)

✓ 02:00 PM ET – FOMC Statement & Economic Projections

✓ 02:00 PM ET – Fed Interest Rate Decision

✓ 02:30 PM ET – FOMC Press Conference

✓ 04:00 PM ET – TIC Net Long-Term Transactions (Apr)

PREMARKET SNAPSHOT 📈

U.S. equity futures opened modestly higher this morning as markets await today’s key Fed interest-rate decision (widely expected to hold rates steady) and digest easing oil pressures amid the sixth day of the Israel–Iran conflict.

SECTOR SNAPSHOT✨

Markets pulled back as nearly every sector ended in the red, with sharp losses in consumer discretionary, health care, and information technology dragging sentiment lower. Energy was the sole bright spot, managing to post modest gains, while the rest of the board reflected cautious investor sentiment amid ongoing macroeconomic uncertainties.

PreMarket Unusual Volume Stocks

📈 XCF Global, Inc. $SAFX is leading early trade with a sharp +52.65% gain on volume of 4.07M, up nearly 1,879% from its norm. This kind of breakout volume often points to strong speculative interest or an anticipated catalyst.

📈 Robin Energy Ltd. $RBNE is climbing +14.26% with pre-market volume at 160.29K, a rise of over 681%. Traders appear to be positioning early, potentially reacting to momentum from recent energy-related headlines.

📈 Innoviz Technologies Ltd. $INVZ has posted a +12.27% gain pre-market on volume of 330.37K, up 607%. The LiDAR tech company may be benefiting from renewed attention in the autonomous vehicle or AI hardware space.

📈 High-Trend International Group $HTCO is modestly higher at +5.03%, but the 114K share volume—up 414%—suggests a building interest that could turn into more meaningful action as the session unfolds.

📈 PTL LTD $PTLE is seeing explosive action with a +117.74% surge and 66.3M shares traded, a 396% jump from typical volume. This type of early strength could signal speculative enthusiasm around news or a major liquidity event.

Premarket Picks

Shares of Reliance Global Group, Inc. (RELI) surged 21.65% in pre-market trading, hitting $2.64. The jump comes after the company signed a non-binding Letter of Intent to sell its wholly owned subsidiary, Fortman Insurance Agency, for $5 million in cash.

Psyence Biomedical Ltd. (PBM) rose 15.32% to $5.87 in the pre-market session. The gain follows news that the company has regained full compliance with NASDAQ’s continued listing requirements, boosting investor confidence.

Lottery.com Inc. (LTRY) jumped 18.18% pre-market to $1.30 after announcing the appointment of acclaimed actor and entrepreneur Tamer Hassan as President of Sports.com Studios, its new content division focused on film and original programming.

Innoviz Technologies Ltd. (INVZ) gained 15.45% in pre-market trading, reaching $1.27. The increase comes after the company revealed it has signed a Statement of Development Work agreement with a top 5 global passenger car manufacturer.

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

Top Upgrades:

1. SmartStop Self Storage REIT, Inc. (SMA)

Analyst Firm: Raymond James
Upgraded: Outperform to Strong Buy
Price Target: $44
Yesterday's Close: $35.48

Jonathan Hughes, an analyst at Raymond James, raised his rating on SmartStop Self Storage from "Outperform" to "Strong Buy" and increased the stock’s price target from $42 to $44. SmartStop (SMA), a self-managed real estate investment trust with a team of 590 employees, continues to focus on expanding its self-storage brand. Analysts have set a stock price target range from a low of $36.00 to a high of $42.55, with a median estimate of $40.00 and an average of $39.87.

2. REV Group, Inc. (REVG)

Analyst Firm: Morgan Stanley
Upgraded: Underweight to Equal Weight
Price Target: $46
Yesterday's Close: $43.55

Morgan Stanley improved its rating on REV Group, upgrading it from "Underweight" to "Equal Weight," and lifted the price target from $33 to $46. REV Group (REVG) designs, manufactures, and distributes specialty vehicles and parts across North America and international markets. Analysts expect the stock to range between $34.00 and $51.00, with a median target of $48.00 and an average of $45.25.

3. Genworth Financial, Inc. (GNW)

Analyst Firm: Keefe Bruyette
Upgraded: Market Perform to Outperform
Price Target: $9
Yesterday's Close: $6.84

Keefe Bruyette upgraded Genworth's rating from "Market Perform" to "Outperform" and raised the stock’s price target from $8.50 to $9. Genworth Financial (GNW) provides mortgage and long-term care insurance both in the U.S. and internationally. Analysts have aligned on a consistent stock price target of $9.00 across the board for high, median, low, and average estimates.

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.