Good Morning, Traders!…👋

US stock futures traded mixed on Tuesday as investors awaited key jobs and manufacturing data to provide guidance on potential interest-rate cuts. The markets are off to a variable start for October and the fourth quarter, processing recent remarks from Federal Reserve Chair Jerome Powell. Powell indicated that while policymakers are cautious, they aren't rushing to cut rates, which tempered traders' expectations for another 0.5% rate cut.

A report on August job openings, expected later today, could shift those expectations if the numbers come in softer than anticipated. With the Fed now focusing heavily on labor market trends, this data, along with manufacturing updates from ISM and S&P Global, will provide insights into the US economy’s pace of slowdown.

These indicators will set the stage for the September jobs report due on Friday, the key event in a week full of important economic releases. Investors are watching closely, hoping for signs that the economy is cooling but not crumbling.

Meanwhile, geopolitical tensions are also in focus, as investors monitor developments in the Middle East following Israeli troop movements into Lebanon.

Happening Today

✓ 09:45 AM ET – S&P Global US Manufacturing PMI (Sep)

✓ 10:00 AM ET – ISM Manufacturing PMI/Prices (Sep)

✓ 10:00 AM ET – JOLTs Job Openings (Aug)

✓ 11:00 AM ET – FOMC Member Bostic Speaks

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

✓ 04:30 PM ET – API Weekly Crude Oil Stock

PREMARKET SNAPSHOT📈

Market futures are mixed, with the S&P 500 and NASDAQ showing gains, while the Dow is slightly down.

SECTOR SNAPSHOT✨

Yesterday's market showed a generally positive trend, with several sectors posting gains. Energy and Financials made notable strides, contributing to the overall positive sentiment. Health Care and Industrials also recorded solid increases, while Real Estate saw a significant uptick. Consumer Staples managed a slight gain, although Consumer Discretionary experienced a minor decline. Materials faced a noticeable drop, but Information Technology and Communication Services continued their upward momentum. Utilities rounded out the day with a modest increase, reflecting overall market strength.

PreMarket Unusual Volume Stocks

📈 AgEagle Aerial Systems Inc. (UAVS): AgEagle saw a significant increase in trading activity, with the volume reaching 51,797,503, far above its average of 974,500. This led to a 112.43% rise in the stock price, reflecting a strong market interest.

📈 ZK International Group Co Ltd. (ZKIN): ZK International experienced a notable increase in volume to 5,277,519, well beyond its average of 155,840. The stock price increased by 17.52%, showing increased investor enthusiasm.

📈 China Jo-Jo Drugstores Inc (CJJD): China Jo-Jo Drugstores saw a slight increase in trading volume to 90,880, compared to its average of 6,850. The stock price rose by 12.56%.

📈 Shineco Inc (SISI): Shineco had a trading volume of 13,829,950, significantly surpassing its average of 1,754,160. This spike was accompanied by a 21.47% increase in the stock price.

📈 Silexion Therapeutics Corp (SLXN): Silexion saw its trading volume surge to 11,859,715, compared to its average of 1,555,460. The stock price increased by 61.75%, indicating heightened market interest.

Premarket Picks

AgEagle Aerial Systems, Inc. (UAVS) saw a substantial jump of 72.90%, bringing its pre-market price to $0.16, following the announcement of a $6.5 million public offering.

Shineco, Inc. (SISI) experienced a pre-market increase of 21.19%, reaching $0.30, after submitting its 10-K form to the SEC.

Silexion Therapeutics Corp (SLXN) rose by 63.84%, with a pre-market price of $0.86, thanks to new preclinical results for SIL-204, its second-generation siRNA candidate, which came after improving its extended-release formulation.

ZK International Group Co., Ltd. (ZKIN) jumped 18.71% to a pre-market price of $0.61 after reporting record revenues of $52.89 million, reflecting a 6.5% increase for the first half of fiscal year 2024.

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

Top Upgrades:

1. Datadog, Inc. (DDOG)

Analyst Firm: DA Davidson
Upgrade: Neutral to Buy
Price Target: $140
Yesterday’s Close: $115.06

DA Davidson has upgraded Datadog, Inc. from Neutral to Buy, with analyst Gil Luria raising the price target from $115 to $140. Analysts have set price targets for Datadog ranging from a low of $115.00 to a high of $160.00, with a median target of $150.00 and an average of $144.73.

Datadog is a comprehensive cloud observability and security platform, integrating monitoring for infrastructure, applications, logs, user experience, and cloud security into a unified real-time solution.

2. Becton, Dickinson and Company (BDX)

Analyst Firm: Citi
Upgrade: Neutral to Buy
Price Target: $275
Yesterday’s Close: $241.10

Citi has raised its rating for Becton Dickinson from Neutral to Buy, increasing the price target from $255 to $275. The stock price target for Becton Dickinson ranges from a low of $240.00 to a high of $312.00, with a median of $275.00 and an average target of $274.54.

As one of the largest global medical technology companies, Becton Dickinson is focused on advancing health through innovations in medical discovery, diagnostics, and care delivery.

3. Atlassian Corporation (TEAM)

Analyst Firm: Raymond James
Upgrade: Market Perform to Outperform
Price Target: $200
Yesterday’s Close: $158.81

Raymond James analyst Adam Tindle has upgraded Atlassian Corporation from Market Perform to Outperform, setting a new price target of $200. Analysts have projected price targets for Atlassian ranging from a low of $160.00 to a high of $250.00, with a median target of $202.00 and an average of $207.84.

Atlassian provides software solutions that empower teams to collaborate effectively in software development, service management, and work management, facilitating the organization and accomplishment of shared goals.

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.