Good Morning, Traders!…👋

U.S. stock futures dipped Thursday as investors await key data to assess the economic outlook and the Federal Reserve’s stance on interest rates, while remaining cautious over rising tensions in the Middle East.

The previous session saw Wall Street’s major indexes end flat, with a private labor market survey indicating no sharp deterioration. Despite this, concerns linger as markets brace for the scale of Israel and the U.S. response to Iran’s recent missile attack on Israel. The CBOE Volatility Index (VIX), Wall Street’s fear gauge, remains elevated, hovering around 19.96, its highest in more than three weeks.

On the economic front, the spotlight today is on the weekly jobless claims report, expected to show 220,000 Americans filed for unemployment for the week ending Sept. 28, slightly up from the prior week’s 218,000. Traders are also looking ahead to Friday’s highly anticipated nonfarm payrolls report.

Later in the day, comments from Federal Reserve policymakers Raphael Bostic and Neel Kashkari will be closely watched. The likelihood of a 25 basis point rate cut at the Fed’s November meeting has climbed to 63.9%, up from 50.7% a week earlier, according to the CME Group's FedWatch Tool.

Happening Today

✓ 08:30 AM ET – Initial Jobless Claims

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

✓ 10:00 AM ET – ISM Non-Manufacturing PMI (Sep)

✓ 10:00 AM ET – ISM Non-Manufacturing Prices (Sep)

✓ 10:40 AM ET – FOMC Member Bostic Speaks

PREMARKET SNAPSHOT 📈

Market futures are down, with the S&P 500 falling 0.26%, the Dow down 0.32%, and the NASDAQ declining 0.34%.

SECTOR SNAPSHOT✨

Yesterday's market reflected a generally negative trend, with most sectors experiencing declines. Consumer Discretionary and Consumer Staples both faced significant losses, indicating weakness in consumer sentiment. Health Care and Industrials also recorded minor downturns. However, Energy and Information Technology managed to post gains, providing some support to the market. Financials showed slight improvement, while Real Estate and Materials faced small declines. Communication Services continued to struggle, rounding out a day characterized by overall caution and mixed results across sectors.

PreMarket Unusual Volume Stocks

📈 AMTD Digital Inc ADR (HKD) is showing significant pre-market activity, trading over 3.5 million shares compared to its average volume of 324K. The stock has surged 26.09%, bringing the pre-market price to $4.93. This unusual spike in volume could signal strong interest in the stock as the market opens.

📈 Aditxt Inc (ADTX) has seen pre-market trading reach over 1.1 million shares, well above its average volume of 156K. Despite this increased activity, the stock is down slightly by 1.11%, with a pre-market price of $2.67. Investors should watch for further movements as trading opens.

📈 Pineapple Energy Inc (PEGY) has made waves pre-market, trading a remarkable 45.9 million shares compared to its average volume of 6.6 million. The stock has jumped 52.22% to a price of $0.17. This level of activity could indicate a major move in the market when regular trading begins.

📈 Graphex Group Limited ADR (GRFX) is seeing a higher-than-usual volume in pre-market trading, with 353K shares moving hands compared to its average of 78K. The stock has risen 0.66% to $0.21, suggesting that it could gain more traction as the trading day progresses.

📈 Elevai Labs Inc (ELAB) has traded 16.7 million shares pre-market, far surpassing its average volume of 4.8 million. The stock has climbed 41.08% to $0.12. This elevated volume suggests strong early interest, making it one to watch as the market opens.

Premarket Picks

Elevai Labs Inc. (ELAB) experienced a significant jump of 46.13%, raising its pre-market price to $0.12 after revealing plans to begin a clinical trial evaluating the effectiveness of a topical exosome product combined with an energy device treatment for improving facial skin appearance.

MicroAlgo Inc. (MLGO) saw a 26.87% increase, bringing its pre-market price to $0.39. This rise in MLGO stock is largely due to the overall upswing in Chinese stocks.

The Lion Electric Company (LEV) gained 7.58%, with its pre-market price reaching $0.71. The company announced further changes to specific senior credit agreements.

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

Top Upgrades:

1. EQT Corporation (EQT)

Analyst Firm: Citi
Upgrade: Neutral to Buy
Price Target: $44
Yesterday’s Close: $36.77

Citi has upgraded EQT Corporation from "Neutral" to "Buy," raising the price target to $44 from the previous $37. Analyst estimates for EQT’s stock price target range from a low of $32.00 to a high of $55.00, with a median of $39.00 and an average of $41.33.

EQT Corporation is a leading U.S.-based natural gas production company, primarily serving marketers, utilities, and industrial customers throughout the Appalachian Basin.

2. Wolverine World Wide, Inc. (WWW)

Analyst Firm: Exane BNP Paribas
Upgrade: Neutral to Outperform
Price Target: $22
Yesterday’s Close: $17.16

Exane BNP Paribas upgraded Wolverine World Wide from "Neutral" to "Outperform," assigning a price target of $22. Analyst projections for Wolverine’s stock price range from a low of $14.00 to a high of $22.00, with a median of $20.00 and an average target of $18.22.

Wolverine World Wide, Inc., with a history spanning 141 years, remains a significant player in boot and clothing manufacturing, dedicated to celebrating the resilience of American workers while supporting the development of skilled tradespeople.

3. RTX Corporation (RTX)

Analyst Firm: Deutsche Bank
Upgrade: Sell to Hold
Price Target: $129
Yesterday’s Close: $124.04

Deutsche Bank has revised its rating on RTX Corporation from "Sell" to "Hold," raising the price target from $109 to $129. Analysts have set stock price targets for RTX ranging from a low of $104.00 to a high of $150.00, with a median estimate of $123.50 and an average of $124.95.

RTX Corporation, through Raytheon, provides advanced defense solutions, playing a pivotal role in helping the U.S. government and its allies safeguard their national sovereignty.

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.