Good Morning, Traders!…👋

Rising tensions in the Middle East weighed on U.S. stock futures early Wednesday, as investors braced for Israel's response to Iran’s missile attacks. Fears of a further escalation remain high, although the U.S. is advocating for a measured approach to avoid a broader conflict.

Oil prices continued their climb, with Brent crude futures up 2.5%, providing a boost to energy stocks such as Occidental Petroleum and ConocoPhillips.

In market activity, Dow futures led the decline among U.S. stock futures. Nike shares dropped in premarket trading after reporting a dip in both quarterly revenue and sales.

Looking ahead, Tesla is expected to release its quarterly vehicle production and delivery numbers, while Conagra Brands will report earnings before the market opens.

Happening Today

✓ 08:15 AM ET – ADP Nonfarm Employment Change (Sep)

✓ 10:30 AM ET – Crude Oil Inventories

✓ 11:00 AM ET – FOMC Member Bowman Speaks

PREMARKET SNAPSHOT📈

Market futures are down, with the S&P 500 falling 0.17%, the Dow down 0.29%, and the NASDAQ slightly lower by 0.12%.

SECTOR SNAPSHOT✨

Yesterday's market presented a mixed picture with notable declines in most sectors. Consumer Discretionary and Consumer Staples both faced losses, reflecting some weakness in consumer confidence. Financials and Health Care also struggled, while Industrials remained nearly flat. Energy was a standout performer, experiencing a significant gain, along with Communication Services and Utilities, which managed to post positive results. However, Information Technology suffered a notable drop, contributing to the overall negative sentiment in the market.

PreMarket Unusual Volume Stocks

📈 Agora Inc ADR (API): Agora Inc saw a significant surge in trading activity, with the volume reaching 14,275,566, much higher than its average of 161,000. This spike led to a 123.27% increase in the stock price.

📈 iCoreConnect Inc. (ICCT): iCoreConnect’s trading volume increased to 5,829,222, far exceeding its average of 169,280. The stock price rose by 25.09%, indicating strong market activity.

📈 Xinyuan Real Estate Co. Ltd. ADR (XIN): Xinyuan saw a moderate increase in trading volume to 429,944, compared to its average of 19,790. The stock price saw a 7.46% rise.

📈 Mmtec Inc (MTC): Mmtec experienced a trading volume spike to 15,900,209, well above its average of 2,045,490. The stock price increased by 37.42%.

📈 Carmell Corp (CTCX): Carmell Corp’s trading volume was 237,875, compared to its average of 39,910. The stock price, however, saw a decline of 13.20%.

Premarket Picks

Fangdd Network Group Ltd. (DUO) saw a notable rise of 40.41%, bringing its pre-market price up to $4.76 following the announcement of a $2.5 million registered direct offering of Class A ordinary shares.

iCoreConnect Inc. (ICCT) experienced a pre-market surge of 33.90%, reaching $0.45 after revealing that it has reached an agreement to sell its Managed Service Provider Division to The 20, LLC through an asset sale.

ModivCare Inc. (MODV) increased by 15.68%, with a pre-market price of $16.75 after announcing an amendment to its credit agreement and an update on cash collections.

Cardio Diagnostics Holdings, Inc. (CDIO) rose by 17.22% to a pre-market price of $0.24 after disclosing that its PrecisionCHD and Epi+Gen CHD tests received preliminary pricing determinations from the Centers for Medicare & Medicaid Services (CMS).

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

Top Upgrades:

1. The Home Depot, Inc. (HD)

Analyst Firm: Gordon Haskett
Upgrade: Accumulate to Buy
Price Target: $450
Yesterday’s Close: $409.05

Gordon Haskett has upgraded The Home Depot, Inc. from "Accumulate" to "Buy," raising the price target to $450. Analysts' stock price targets for Home Depot range from a low of $318.00 to a high of $455.00, with a median of $395.00 and an average of $392.18.

The Home Depot is a prominent global home improvement retailer, offering a wide range of products, including building materials, garden supplies, décor, and maintenance products.

2. M&T Bank Corporation (MTB)

Analyst Firm: Evercore ISI
Upgrade: In Line to Outperform
Price Target: $210
Yesterday’s Close: $172.72

Evercore ISI upgraded M&T Bank Corporation from "In Line" to "Outperform," assigning a price target of $210. Analysts' stock price target for M&T Bank ranges from a low of $165.00 to a high of $220.00, with a median estimate of $188.00 and an average target of $188.76.

M&T Bank, headquartered in Buffalo, New York, operates across 12 northeastern U.S. states, offering banking services along with trust services through Wilmington Trust and M&T Bank.

3. Par Pacific Holdings, Inc. (PARR)

Analyst Firm: JPMorgan
Upgrade: Neutral to Overweight
Price Target: $30
Yesterday’s Close: $17.53

JPMorgan has raised its rating for Par Pacific Holdings, Inc. from "Neutral" to "Overweight," setting a new price target of $30. Analysts' stock price target for Par Pacific Holdings ranges from a low of $21.00 to a high of $36.00, with a median target of $24.00 and an average target of $26.57.

Par Pacific Holdings, based in Houston, is an energy company that supplies fuels to the western U.S., operating four refineries with a combined capacity of 219,000 barrels per day, along with significant storage and transportation assets.

Happy investing,

Maeve Grace
Editor In Chief
Premium Trade 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.