Good Morning, Traders!…👋

Stock futures were under pressure early Tuesday following President-elect Donald Trump’s announcement of steep tariffs on Mexico, Canada, and China, signaling that his campaign promises of protectionist policies are becoming a reality.

In a late Monday post on Truth Social, Trump declared plans to impose a 25% tariff on all goods imported from Mexico and Canada starting on day one of his presidency. He also announced a 10% tariff on Chinese products, though the timeline for that move remains unclear.

Oil prices edged higher as U.S. officials confirmed that Israel's security cabinet is set to vote on a potential ceasefire agreement with Hezbollah. Brent crude rose 0.3% to $72.71 per barrel, while West Texas Intermediate increased 0.4% to $69.18 per barrel.

Meanwhile, bond markets rallied, fueled by Trump’s appointment of Wall Street veteran Scott Bessent as Treasury Secretary, which helped ease concerns about the U.S. deficit. Yields on 10-year Treasury notes dipped to 4.299%, while 2-year yields slid to 4.281%. Markets will be closely watching for further developments as trade and fiscal policies take center stage.

Happening Today

✓ 08:00 AM ET – Building Permits (Oct)

✓ 10:00 AM ET – CB Consumer Confidence (Nov)

✓ 10:00 AM ET – New Home Sales (Oct)

✓ 01:00 PM ET – 5-Year Note Auction

✓ 02:00 PM ET – FOMC Meeting Minutes

PREMARKET SNAPSHOT 📈

Market futures are positive, with the S&P 500 up 0.22%, the Dow rising 0.18%, and the NASDAQ gaining 0.28%.

SECTOR SNAPSHOT✨

Yesterday, the market saw positive gains in most sectors. Consumer Discretionary, Health Care, and Materials led the charge, with increases of 0.99%, 0.90%, and 0.94%, respectively. Financials, Industrials, and Real Estate also showed solid gains, rising by 0.61%, 0.66%, and 1.28%. Communication Services increased by 0.76%, and Utilities saw a modest gain of 0.20%. However, Energy and Information Technology ended the day in the red, down by 2.01% and 0.35%, respectively. Despite the losses in a few sectors, the overall market performed well.

PreMarket Unusual Volume Stocks

📈 T Stamp Inc (IDAI) saw a substantial 57.22% increase in its stock price, closing at $0.28. The trading volume reached an impressive 40 million shares, far exceeding its average of 1.1 million. This remarkable performance highlights heightened investor interest and optimism surrounding the company.

📈 Spectral AI Inc (MDAI) recorded a notable 38.93% gain, ending the session at $1.82. The trading volume was over 7.7 million shares, significantly higher than its average of 415K. This surge reflects strong market enthusiasm and potential positive developments for the company.

📈 VSee Health Inc (VSEE) posted an 18.02% rise in its stock price, closing at $2.03. The company traded over 8 million shares, greatly surpassing its average volume of 443K. This upward movement indicates growing investor interest in its healthcare technology solutions.

📈 Poseida Therapeutics Inc (PSTX) had an extraordinary session with a 223.43% surge in its stock price, soaring to $9.25. The trading volume exceeded 2 million shares, well above its average of 487K, signaling significant optimism and potentially groundbreaking news driving the stock.

📈 Oncternal Therapeutics Inc (ONCT) experienced a modest 0.23% gain, closing at $0.71. The trading volume was 307K shares, slightly above its average of 109K. This steady performance reflects consistent interest in the company’s developments.

Premarket Picks

Poseida Therapeutics, Inc. (PSTX) is seeing a significant pre-market surge, with its stock price rising to $9.29, a 224.83% increase. This surge comes after the company announced an agreement to be acquired by Roche Holdings, Inc.

Semtech Corporation (SMTC) is up 16.93% in pre-market trading, with shares priced at $62.49. The increase follows the release of the company's third-quarter fiscal year 2025 results.

SmartKem, Inc. (SMTK) has experienced a 16.02% surge, with its pre-market price reaching $6.40. This boost follows the announcement of a partnership with AUO, the largest display manufacturer in Taiwan, to jointly develop the world's first advanced rollable, transparent microLED display.

Rigetti Computing, Inc. (RGTI) is up 9.09%, with shares priced at $3.00 in pre-market trading. The company’s stock rose after it completed a successful $100 million at-the-market equity offering.

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

Top Upgrades:

1. Chevron Corporation (CVX)

Analyst Firm: Citi
Upgrade: Neutral to Buy
Price Target: $185
Yesterday's Close: $160.36

Citi analyst Alastair Syme upgraded Chevron (CVX) to "Buy" from "Neutral," raising the price target to $185, up from the previous $145.

Chevron, as one of the world’s largest integrated energy companies, remains committed to delivering affordable, reliable, and increasingly cleaner energy to drive global progress.

Analysts have projected a price target range for Chevron, with a low of $154.00, a high of $194.00, a median of $171.00, and an average target of $172.14.

2. Zoom Video Communications, Inc. (ZM)

Analyst Firm: Evercore ISI
Upgrade: In-Line to Outperform
Price Target: $115
Yesterday's Close: $89.03

Evercore ISI has raised its rating on Zoom Video Communications (ZM) to "Outperform" from "In-Line," with an increased price target of $115, up from $70.

Zoom continues to redefine workplace collaboration through its platform, including Zoom Workplace, which integrates AI-driven enhancements to foster team productivity and connection.

Analyst price targets for Zoom range from a low of $60.00 to a high of $95.00, with a median target of $85.00 and an average of $81.08.

3. Charter Communications, Inc. (CHTR)

Analyst Firm: Exane BNP Paribas
Upgrade: Underperform to Neutral
Price Target: $360
Yesterday's Close: $384.47

Exane BNP Paribas analyst Sam McHugh upgraded Charter Communications (CHTR) to "Neutral" from "Underperform," assigning a price target of $360.

Charter Communications is a prominent broadband connectivity provider and the second-largest cable operator in the U.S., serving over 58 million homes and businesses under the Spectrum brand across 41 states.

Analyst projections for Charter’s stock range from a low of $292.00 to a high of $660.00, with a median target of $390.00 and an average of $410.30.

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.