Good Morning, Traders!…👋

U.S. stock markets are set to open lower on Wednesday, giving back some of the gains from the previous session's tech-driven rally. Investors are focusing on the continued volatility in Chinese markets and the upcoming release of minutes from the Federal Reserve’s September meeting.

The Fed minutes, set for release later today, are expected to shed light on the central bank’s decision to cut interest rates by half a percentage point last month. Since then, stronger-than-expected September jobs data has boosted optimism, with job growth surging, the unemployment rate falling, and upward revisions to hiring totals for the past two months.

Early Wednesday, the yield on the benchmark 10-year Treasury note remained stable at 4.019%.

In stock news, the Justice Department is considering breaking up Google, Boeing faces challenges as it withdraws a recent union offer and faces a potential credit rating downgrade to junk status, and Nvidia's stock is approaching an all-time high.

Happening Today

✓ 08:00 AM ET – FOMC Member Bostic Speaks

✓ 10:30 AM ET – Crude Oil Inventories

✓ 11:00 AM ET – FOMC Member Williams Speaks

✓ 12:00 PM ET – Atlanta Fed GDPNow (Q3)

✓ 01:00 PM ET – 10-Year Note Auction

✓ 02:00 PM ET – FOMC Meeting Minutes

PREMARKET SNAPSHOT 📈

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

SECTOR SNAPSHOT✨

Yesterday's market showed a generally positive trend, with several sectors recording gains. Consumer Discretionary and Information Technology led the way, reflecting strong investor confidence. Consumer Staples and Financials also posted solid increases, contributing to the overall positive sentiment. Health Care and Industrials managed modest gains as well. However, Energy faced a notable decline, and Materials experienced a slight drop, indicating some sector-specific challenges. Real Estate had a small uptick, while Utilities remained nearly flat. Overall, it was a day of mixed but mostly favorable results across the market.

PreMarket Unusual Volume Stocks

📈 Carmell Corp (CTCX) is seeing a significant pre-market volume increase, with over 20 million shares traded compared to its average of 64K. The stock has surged 59.38%, bringing the pre-market price to $0.54. This massive spike in volume and price signals strong investor interest as markets open.

📈 Clearside Biomedical Inc (CLSD) has traded over 4 million shares pre-market, well above its average volume of 300K. The stock is up 29.73%, bringing the pre-market price to $1.92. Investors should keep an eye on this stock as it demonstrates strong momentum heading into the trading day.

📈 Haoxi Health Technology Ltd. (HAO) has seen pre-market trading activity of over 11 million shares, aligned with its average volume of 1.1 million. The stock has gained 0.79%, with a pre-market price of $0.18. This slight uptick could suggest stability as the stock moves into regular trading.

📈 WW International Inc (WW) is experiencing heightened pre-market activity, with nearly 9.8 million shares traded, far exceeding its average volume of 3.2 million. The stock has jumped 44.83%, pushing the pre-market price to $1.68. This strong upward movement points to robust demand as the market opens.

📈 Nuburu Inc (BURU) has traded over 4.7 million shares pre-market, higher than its average volume of 3.4 million. The stock has risen 16.83%, bringing its pre-market price to $1.18. This early activity may lead to further gains as trading begins.bed 52.28%, bringing its pre-market price to $0.21. Traders may be keen to see how this momentum carries into the trading session.

Premarket Picks

WW International, Inc. (WW) experienced a substantial increase of 44.82%, bringing its pre-market price to $1.68. The company is now providing compounded semaglutide, improving access to clinical weight management along with its established lifestyle and support programs.

Arcadium Lithium plc (ALTM) saw a significant gain of 31.37%, pushing its pre-market price to $5.57 after Rio Tinto revealed plans to acquire the company for $5.85 per share in an all-cash transaction.

Clearside Biomedical, Inc. (CLSD) rose by 26.35%, reaching a pre-market price of $1.87 following the announcement of positive topline results from the ODYSSEY phase 2b trial of Suprachoroidal CLS-AX for Wet AMD, meeting all primary and secondary endpoints.

Algorhythm Holdings, Inc. (RIME) shares surged 33.58% to $0.72 in pre-market trading after unveiling a new master service agreement with a prominent Mumbai-based consumer goods company that focuses on health, beauty, wellness, and healthy packaged foods.

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

Top Upgrades:

1. The Home Depot, Inc. (HD)

Analyst Firm: Loop Capital
Upgrade: Hold to Buy
Price Target: $460
Yesterday's Close: $414.18

Loop Capital has upgraded The Home Depot from "Hold" to "Buy," increasing the price target from $360 to $460. Stock price targets for The Home Depot range from a low of $318.00 to a high of $455.00, with an average target of $397.94.

As a leading global home improvement retailer, The Home Depot operates in both the United States and international markets, providing a wide array of home improvement products.

2. Southwest Airlines Co. (LUV)

Analyst Firm: Jefferies
Upgrade: Underperform to Hold
Price Target: $32
Yesterday's Close: $30.67

Jefferies analyst Sheila Kahyaoglu has upgraded Southwest Airlines from "Underperform" to "Hold," raising the price target from $24 to $32. Analysts have set stock price targets for Southwest Airlines ranging from a low of $19.00 to a high of $36.00, with an average target of $27.18.

Southwest Airlines is recognized for offering scheduled air transportation services throughout the United States and select international markets.

3. Lowe's Companies, Inc. (LOW)

Analyst Firm: Loop Capital
Upgrade: Hold to Buy
Price Target: $300
Yesterday's Close: $273.27

Loop Capital analyst Laura Champine has upgraded Lowe's from "Hold" to "Buy," increasing the price target from $250 to $300. Lowe's stock price estimates range from a low of $203.00 to a high of $307.00, with an average target of $264.77.

Lowe's is a major home improvement retailer in the United States, operating through its subsidiaries to provide a broad range of products and services for home maintenance and improvement.

Happy investing,

Maeve Grace
Editor In Chief
Premium Stock 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.