Early Boost: Pre-Market Stocks Poised for Gains!

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Hello Part-time Traderβ€¦πŸ‘‹

U.S. stocks are on the rise in the Premarket Wednesday following record highs in the Nasdaq and S&P 500 from the tuesdays session.

The market received a significant boost from large-cap companies, including Tesla, which saw a remarkable 10% surge on Tuesday. Semiconductor makers also contributed to the uplift. Paramount saw a significant surge following reports of a deal to merge with Skydance Media. Conversely, Nvidia experienced a drop from a recent intraday peak of over $140.

Additionally, investor sentiment was bolstered by comments from Federal Reserve Chair Jerome Powell, which were interpreted as increasing the likelihood of an interest-rate cut in September.

Regarding trading hours, the New York Stock Exchange, Nasdaq Stock Market, and over-the-counter markets will operate from 9:30 a.m. to 1 p.m. Eastern today. The bond market will be open from 8 a.m. to 2 p.m. Eastern. All U.S. markets will be closed on Thursday in observance of the Fourth of July, resuming their normal hours on Friday.

Happening Today

βœ“ 08:15 AM ET – ADP Nonfarm Employment Change (Jun)

βœ“ 08:30 AM ET – Initial Jobless Claims

βœ“ 09:45 AM ET – S&P Global Services PMI (Jun)

βœ“ 10:00 AM ET – ISM Non-Manufacturing PMI (Jun)

βœ“ 10:00 AM ET – ISM Non-Manufacturing Prices (Jun)

βœ“ 02:00 PM ET – FOMC Meeting Minutes


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PREMARKET SNAPSHOT πŸ“ˆ

Market futures are mixed, with the S&P 500 and NASDAQ showing slight declines, while the Dow is up modestly.

S&P500

$5567.25

 β¬‡οΈ 0.03%

Dow

$39722.00

 β¬†οΈ 0.09%

NASDAQ 

$20241.75

 β¬‡οΈ 0.07%

SECTOR SNAPSHOT βœ¨

The market saw strong performance today, led by significant gains in Consumer Discretionary and Financials. Information Technology and Communication Services also posted solid increases. Despite minor declines in Energy and Health Care, overall market sentiment remained positive with broad-based gains across multiple sectors.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,530.24

+1.81% 🟒

Consumer Staples

819.40

+0.62% 🟒

Energy

696.95

-0.20% πŸ”΄

Financials

693.33

+1.10% 🟒

Health Care

1,684.13

-0.40% πŸ”΄

Industrials

1,026.22

+0.55% 🟒

Materials

548.77

+0.16% 🟒

Real Estate

239.74

+0.40% 🟒

Information Technology

4,421.05

+0.54% 🟒

Communication Services

313.10

+0.84% 🟒

Utilities

345.46

+0.44% 🟒


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PreMarket Unusual Volume Stocks

πŸ“ˆ JX Luxventure Limited (JXJT): JX Luxventure Limited saw a significant increase in trading activity with a volume of 1,876,968, well above its average volume of 105.14. This notable rise in volume corresponds with a 26.17% price change, reflecting heightened market interest.

πŸ“ˆ VivoPower International PLC (VVPR): VivoPower International PLC experienced a substantial rise in volume, trading 9,534,117 shares compared to its average of 1,110.95. This dramatic increase in trading volume resulted in a 127.33% price change, indicating strong investor activity.

πŸ“ˆ DouYu International Holdings Ltd ADR (DOYU): DouYu International Holdings Ltd ADR saw its trading volume surge to 598,604, significantly higher than its average of 105.89. The stock's price change of 32.25% mirrors this spike in trading volume.

πŸ“ˆ Zoomcar Holdings Inc. (ZCAR): Zoomcar Holdings Inc.'s volume jumped to 22,070,109, a considerable increase from its average of 5,083.09. Despite the high trading volume, the stock experienced a 53.15% price change, highlighting the impact of the increased trading activity.

πŸ“ˆ Maxeon Solar Technologies Ltd (MAXN): Maxeon Solar Technologies Ltd saw its volume rise to 26,913,584, far exceeding its average of 7,449.63. The stock's 13.90% price change reflects the surge in trading volume.


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Premarket Picks

Zoomcar Holdings, Inc. (ZCAR) experienced a notable pre-market surge of 50.87%, elevating its share price to $0.21 following the submission of its NT 10-K form to the SEC.

DouYu International Holdings Limited (DOYU) saw a 28.44% increase in pre-market trading, with its share price rising to $16.17 after the announcement of a special cash dividend.

U Power Limited (UCAR) recorded a 10.39% gain in pre-market activity, with its share price advancing to $7.44 after revealing plans for expansion into Thailand.

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

Pre Market Gainers

Pre Market Change

Pre Market Volume

TPHS

+12.81%

9.55M

CSSE

+22.38%

7.64M

RDZN

+64.81%

2.59M

VS

+45.45%

2.41M

LAES

+7.58%

1.37M

AMWL

+2.12%

547.02K

MMV

+4.95%

210.76K

ZAPP

+17.89%

180.17K

MBIO

+2.37%

170.84K

CEI

+4.00%

150.02K


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Important FDA 

Recently Announced

On June 26, 2024, Verona Pharma plc (VRNA) celebrated FDA approval of Ensifentrine, marketed as Ohtuvayre, for maintaining the treatment of COPD in adults.

Merck & Co Inc. (MRK) received a Complete Response Letter from the FDA for Patritumab deruxtecan (HER3-DXd) due to third-party manufacturing issues, impacting its application for EGFR-mutated non-small cell lung cancer.

AbbVie (ABBV) announced FDA approval of Epcoritamab-bysp for adults with relapsed or refractory follicular lymphoma (FL) after two or more lines of therapy, providing a new treatment option.

GENMAB A/S (GMAB) also received FDA accelerated approval for Epcoritamab-bysp for relapsed or refractory FL in adults after two or more lines of therapy, enhancing their oncology portfolio.

On June 28, 2024, Rocket Pharmaceuticals, Inc. (RCKT) faced a delay with a Complete Response Letter from the FDA for KRESLADI (RP-L201) for severe Leukocyte Adhesion Deficiency-I, requiring further action before approval.


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Upcoming Announcements

On July 7, 2024, Arcutis Biotherapeutics Inc. (ARQT) anticipates an FDA decision on their sNDA for Roflumilast Cream 0.15% to treat atopic dermatitis in adults and children as young as six.

Phathom Pharmaceuticals Inc. (PHAT) expects an FDA decision on July 19, 2024, for their NDA for VOQUEZNA (vonoprazan) Tablets, aimed at treating heartburn from non-erosive GERD. Approval could offer new treatment options for these conditions.

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.

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