Good Morning, Traders!…👋

Stock futures were flat early Wednesday as Wall Street watches to see if equities can rebound to record highs this week. Earnings reports have been mixed, with strong results from major banks offset by weaker outlooks from companies like UnitedHealth Group and Dutch chipmaker ASML.

Morgan Stanley and Abbott Laboratories are set to report earnings before the market opens, drawing attention as key indicators of market momentum.

ASML extended its losses after cutting sales guidance, while Nvidia saw slight gains. United Airlines beat analysts' expectations with its third-quarter adjusted earnings. Morgan Stanley's earnings report is also in focus.

Meanwhile, gold futures rose 0.5%, trading at $2,691.90 per ounce, approaching the all-time high of $2,708.70/oz set in late September.

Happening Today

✓ 08:30 AM ET – Import & Export Price Index (MoM) (Sep)

✓ 02:00 PM ET – Federal Budget Balance (Sep)

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

PREMARKET SNAPSHOT 📈

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

SECTOR SNAPSHOT✨

Yesterday's market showed mixed results, with several sectors experiencing gains while others faced declines. Consumer Discretionary and Consumer Staples posted positive increases, reflecting steady consumer confidence. Real Estate also saw a significant uptick, contributing to the overall positive sentiment. However, Energy experienced a sharp decline, along with notable losses in Health Care and Information Technology. Industrials and Materials faced minor drops as well, indicating some weakness in those areas. Financials and Utilities managed to secure modest gains, rounding out a day characterized by selective strength amidst broader market challenges.

PreMarket Unusual Volume Stocks

📈 Versus Systems Inc (VS) is showing extraordinary pre-market activity, with over 20.5 million shares traded compared to its average volume of 230K. The stock has skyrocketed 278.26%, bringing its pre-market price to $4.35. This massive spike in both volume and price signals strong investor interest as the market opens.

📈 Biodexa Pharmaceuticals Plc ADR (BDRX) has seen significant pre-market volume, trading nearly 2 million shares against its average of 31K. The stock has soared 145.31%, bringing its pre-market price to $12.29. This sharp rise in price and volume could indicate continued momentum when the market opens.

📈 Santech Holdings Ltd. ADR (STEC) is experiencing a tremendous pre-market boost, with over 12 million shares traded, far surpassing its average volume of 1.4 million. The stock has surged 427.82%, pushing its pre-market price to $2.03. This dramatic increase points to heightened investor interest.

📈 Carmell Corp (CTCX) has traded over 5.5 million shares pre-market, well above its average volume of 905K. The stock is up 24.47%, with a pre-market price of $0.43. This strong early movement suggests further potential gains as trading begins.

📈 Moolec Science SA (MLEC) has seen modest pre-market activity, with 71K shares traded compared to its average volume of 19K. The stock has gained 14.34%, bringing its pre-market price to $1.02. This moderate uptick could indicate positive sentiment going into the trading session.

Premarket Picks

Versus Systems Inc. (VS) saw an impressive stock increase of 338.05%, lifting its pre-market price to $4.95 after announcing two major agreements with Aspis Cyber Technologies, Inc.

Biodexa Pharmaceuticals Plc (BDRX) experienced a 215.08% surge in its shares, which rose to a pre-market price of $15.25 after successfully appealing against a Nasdaq delisting.

NovoCure Limited (NVCR) shares climbed by 31.44%, reaching a pre-market price of $23.37 after the FDA approved its Optune Lua® for treating Metastatic Non-Small Cell Lung Cancer.

The Container Store Group, Inc. (TCS) gained 33.55%, with its pre-market price increasing to $14.29 following the announcement of a strategic partnership with Beyond, Inc., which combines the iconic Bed Bath & Beyond brand with The Container Store.

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

Top Upgrades:

1. W.W. Grainger, Inc. (GWW)

Analyst Firm: Baird
Upgrade: Neutral to Outperform
Price Target: $1,230
Yesterday's Close: $1,085.57

Baird has upgraded W.W. Grainger, Inc. from "Neutral" to "Outperform," increasing the price target from $975 to $1,230. Analysts forecast a stock price target with a high of $1,250.00, a median of $995.00, a low of $900.00, and an average of $1,040.82.

W.W. Grainger is a leading distributor serving North America, Japan, and the UK, supporting over 4.5 million customers worldwide through advanced technology and strong customer relationships.

2. WESCO International, Inc. (WCC)

Analyst Firm: Baird
Upgrade: Neutral to Outperform
Price Target: $550
Yesterday's Close: $172.45

David Manthey at Baird has upgraded WESCO International from "Neutral" to "Outperform," revising the price target to $550, up from $522. Analysts provide a stock price target with a high of $215.00, a median of $201.00, a low of $187.00, and an average of $200.40.

WESCO International, a FORTUNE 500® company, generates over $22 billion in annual sales and specializes in distribution, logistics, and supply chain solutions across sectors such as electrical, communications, security, utility, and broadband.

3. Cisco Systems, Inc. (CSCO)

Analyst Firm: Citi
Upgrade: Neutral to Buy
Price Target: $62
Yesterday's Close: $54.08

Citi has upgraded Cisco Systems, Inc. from "Neutral" to "Buy," increasing the price target to $62, up from $52. Analysts project a stock price target with a high of $62.00, a median of $57.00, a low of $49.00, and an average of $55.89.

Cisco Systems is a global leader in the design and sale of Internet Protocol networking products and communication technologies across various regions, including the Americas, Europe, the Middle East, Africa, and Asia Pacific.

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.