Ahead of the Bell: Today's Big Profit Plays!

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Hello Part-time Traderβ€¦πŸ‘‹

US stocks are pulling back in a premarket Thursday after another day of record closes in the previous session. Optimism about earnings from artificial intelligence and hopes for interest-rate cuts from the Federal Reserve have been driving stocks higher.

Today's key focus is the latest Consumer Price Index report. A lower reading could boost stocks by giving the Fed more room to lower borrowing costs, while a stronger reading might lead to price pullbacks.

Shares of Delta Air Lines are tumbling after the carrier issued weak guidance. In contrast, Costco shares are rising as the warehouse retailer announces its first membership fee hike since 2017. Meanwhile, Tesla is on a winning streak with 11 consecutive sessions of gains.

Happening Today

βœ“ 08:30 AM ET – Continuing Jobless Claims

βœ“ 08:30 AM ET – CPI (MoM) (YoY) (Jun)

βœ“ 08:30 AM ET – Initial Jobless Claims

βœ“ 11:30 AM ET – FOMC Member Bostic Speaks

βœ“ 01:00 PM ET – 30-Year Bond Auction

βœ“ 01:00 PM ET – Federal Budget Balance (Jun)

βœ“ 04:30 PM ET – Fed's Balance Sheet

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PREMARKET SNAPSHOT πŸ“ˆ

Market futures are down, with the S&P 500, Dow, and NASDAQ all showing declines.

S&P500

$5680.75

 β¬‡οΈ 0.13%

Dow

$39973.00

⬇️ 0.19%

NASDAQ 

$20880.50

 β¬‡οΈ 0.09%

SECTOR SNAPSHOT βœ¨

Yesterday, the market experienced a robust rally with all sectors posting gains. Leading the way were Information Technology and Materials, showing strong performances. Health Care and Industrials also saw significant increases, reflecting broad-based optimism. Even traditionally defensive sectors like Consumer Staples and Utilities posted solid gains, indicating widespread positive sentiment across the market.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,562.18

+0.65% 🟒

Consumer Staples

828.34

+0.45% 🟒

Energy

683.77

+0.72% 🟒

Financials

696.94

+0.42% 🟒

Health Care

1,706.13

+0.98% 🟒

Industrials

1,032.08

+0.90% 🟒

Materials

557.22

+1.34% 🟒

Real Estate

242.75

+0.73% 🟒

Information Technology

4,616.32

+1.63% 🟒

Communication Services

321.40

+0.69% 🟒

Utilities

352.80

+0.95% 🟒

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PreMarket Unusual Volume Stocks

πŸ“ˆ Salarius Pharmaceuticals Inc (SLRX): Salarius Pharmaceuticals Inc saw a significant increase in trading activity with a volume of 1,339,201, well above its average volume of 22.14. This notable rise in volume corresponds with a -13.58% price change, reflecting heightened market interest.

πŸ“ˆ Renalytix Plc ADR (RNLX): Renalytix Plc ADR experienced a substantial rise in volume, trading 9,062,948 shares compared to its average of 303.81. This dramatic increase in trading volume resulted in a 49.42% price change, indicating strong investor activity.

πŸ“ˆ Telesis Bio Inc (TBIO): Telesis Bio Inc saw its trading volume surge to 414,601, significantly higher than its average of 32.05. Despite the increased trading activity, the stock experienced a -13.23% price change.

πŸ“ˆ Cetus Capital Acquisition Corp (CETU): Cetus Capital Acquisition Corp's volume spiked to 160,654, a substantial increase from its average of 16.42. The stock's 6.76% price change highlights the impact of the increased trading activity.

πŸ“ˆ Blue Star Foods Corp (BSFC): Blue Star Foods Corp saw its volume rise to 10,499,935, far exceeding its average of 1,139.47. The stock's 74.40% price change reflects the surge in trading volume.

Expert's Little Black Book Spills Wall Street's Deepest Secrets

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Premarket Picks

Volcon's stock price (VLCN) jumped dramatically before the market opened today, rising over 86% to almost $8.81 per share. This surge follows a series of stock trades by a large Swiss bank, UBS Group AG.

Cyngn (CYN) saw its stock price climb over 40% in pre-market trading, reaching $5.55 per share. This rise comes after the company announced it is expanding its network of sellers to include Alta Equipment Group.

Renalytix (RNLX) experienced a pre-market stock price increase of nearly 58%, reaching over $0.48 per share. The company announced a collaboration with a diabetes center in Copenhagen to develop better treatments for patients with both diabetes and chronic kidney disease.

Kazia Therapeutics (KZIA) saw its stock price go up almost 23% before the market opened today, reaching $0.82 per share. This increase follows the announcement of positive results from a mid- to late-stage clinical trial for a drug called Paxalisib. The drug is being tested as a treatment for a type of brain cancer called glioblastoma.

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

Pre Market Gainers

Pre Market Change

Pre Market Volume

PRST

+6.88%

+6.88%

BSFC

+69.05%

+69.05%

ASNS

+31.21%

+31.21%

SOUN

+9.07%

+9.07%

VLCN

+93.42%

+93.42%

CNSP

+35.24%

+35.24%

YGMZ

+39.42%

+39.42%

SLRX

+6.84%

+6.84%

PFE

+2.65%

+2.65%

QS

+14.42%

+14.42%

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Important FDA 

Recently Announced

Arcutis Biotherapeutics (ARQT) celebrated a major victory on July 9th, 2024. The FDA approved their Roflumilast Cream 0.15% for the treatment of mild to moderate atopic dermatitis in both adults and children as young as six years old.

Unfortunately, Rocket Pharmaceuticals (RCKT) faced a different outcome on June 28th, 2024. The FDA issued a Complete Response Letter for their KRESLADI treatment. This means Rocket Pharmaceuticals will need to address the FDA's concerns before resubmitting their application for approval.

AbbVie (ABBV), however, had reason to celebrate on June 26th, 2024. The FDA granted them approval for their Epcoritamab-bysp treatment for a specific type of lymphoma. This is a positive development for both AbbVie and patients struggling with this particular form of cancer.

Jeff Bezos's Plan Exposed

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Upcoming Announcements

Phathom Pharmaceuticals (PHAT) has a big day coming up! On July 19th, 2024, the FDA will decide the fate of VOQUEZNA Tablets, a medication for heartburn caused by a specific type of GERD called non-erosive GERD.

For AstraZeneca investors (AZN), mark your calendars for July 25th! A crucial meeting is happening where a panel of experts will assess IMFINZI, a drug used to treat lung cancer. Specifically, they'll be reviewing how well IMFINZI works when combined with chemotherapy before surgery (neoadjuvant treatment), followed by using it alone after surgery. This treatment approach is for adult patients with a specific type of lung cancer (resectable non-small cell lung cancer).

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.

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