Good Morning, Traders!…👋

U.S. stock futures slipped early Wednesday as Wall Street braced for another round of inflation data, following a hotter-than-expected consumer price report that triggered doubts about near-term interest rate cuts.

Tuesday’s CPI data revealed the fastest annual inflation rate since February, adding to concerns that President Trump’s proposed tariffs may be feeding into rising prices. As a result, traders are dialing back expectations of a Federal Reserve rate cut—not just for this month, which is widely expected to see no action—but increasingly for September as well, despite continued pressure from the White House.

Next up: the Producer Price Index, due Wednesday, offering a look at wholesale inflation trends. Markets are watching closely for further signs of upward price momentum.

Meanwhile, Trump announced a trade agreement with Indonesia and reaffirmed plans to push ahead with 30% tariffs on goods from the EU, Canada, and Mexico starting August 1—keeping global trade risks front and center.

Earnings Watch

Earnings hit today from Johnson & Johnson $JNJ, Bank of America $BAC, ASML $ASML, Morgan Stanley $MS, Goldman Sachs $GS before open, plus United Airlines $UAL after close.

Analysts expect JNJ at $2.67 EPS, BAC at $0.86 EPS, ASML at $5.94 EPS, MS at $1.93 EPS, GS at $8.50 EPS, and UAL at $4.00 EPS.

Happening Today

✓ 08:30 AM ET – Core PPI

✓ 09:15 AM ET – Industrial Production

✓ 10:00 AM ET – Fed Vice Chair for Supervision Barr Speaks

✓ 10:30 AM ET – Oil Inventories

✓ 02:00 PM ET – Beige Book

✓ 04:30 PM ET – FOMC Member Williams Speaks

SECTOR SNAPSHOT✨

On the last trading day, most sectors experienced declines, indicating broad market weakness. This widespread downturn could be driven by various factors such as inflation concerns, geopolitical uncertainties, or a generally cautious investor sentiment. Information Technology was a notable exception, posting a gain, possibly due to specific company performance or sustained investor confidence in the tech sector's long-term growth prospects.

PreMarket Unusual Volume Stocks

Here's a quick rundown of today's pre-market high-volume stocks:

📈 Data Storage Corporation (DTST) is surging +29.59% to $3.38 on monumental volume, following the announced sale of its CloudFirst subsidiary and plans for a significant share buyback, aiming to return value to shareholders.

📈 Repare Therapeutics Inc. (RPTX) is gaining +16.08% at $1.43 with high volume, after securing a $10 million upfront payment and up to $257 million in potential milestones from an exclusive worldwide licensing agreement with Debiopharm for its oncology drug, lunresertib.

📈 Incannex Healthcare Inc. (IXHL) is up +23.38% at $0.3400 with massive volume, as investor optimism builds following recent capital raises and the cancellation of warrants, which reduces potential dilution, ahead of anticipated clinical trial results for its sleep apnea drug.

📈 Graphjet Technology (GTI) is exploding +83.90% to $0.0730 with exceptionally high volume, amidst significant volatility and ongoing efforts to regain Nasdaq compliance, with a hearing scheduled for July 17, 2025.

📈 Chanson International Holding (CHSN) is up +7.79% at $0.1027 with notable volume, as it continues to face Nasdaq non-compliance notifications regarding its minimum bid price, though no specific fresh news for today is immediately apparent.

Premarket Picks

Nuwellis, Inc. (NUWE) saw a strong surge in pre-market trading, rising 55.91% to $10.75. This jump follows the announcement of a new U.S. patent for their “Extracorporeal Blood Filtering Machine and Methods,” recently issued by the U.S. Patent and Trademark Office.

Graphjet Technology (GTI) experienced a dramatic 94.38% increase, pushing its pre-market price to $0.14. The spike came after the company shared an update on current events, sparking renewed investor interest.

Data Storage Corporation (DTST) jumped 32.24% to $4.43 in pre-market trading. The boost was driven by the news that it signed a definitive agreement on July 11 to sell the assets of its wholly owned subsidiary, CloudFirst Technologies Corporation.

GameSquare Holdings, Inc. (GAME) rose 37.09% to $2.07 ahead of a conference call to discuss its $100 million Ethereum treasury strategy, which was previously announced and has generated excitement among investors.

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

Top Upgrades:

1. Commvault Systems, Inc. (CVLT)

Analyst Firm: Guggenheim

Upgraded: Neutral to Buy

Price Target: $210

Yesterday's Close: $166.73

Howard Ma, an analyst at Guggenheim, raised his rating on Commvault from Neutral to Buy, setting a new price target of $210. Analysts have set a price target range for Commvault Systems between $170.00 and $215.00, with a median estimate of $192.50 and an average of $192.25. The company specializes in data protection and recovery, helping organizations stay resilient in the face of cyber threats and cloud disruptions.

2. ResMed Inc. (RMD)

Analyst Firm: RBC Capital

Upgraded: Sector Perform to Outperform

Price Target: $294

Yesterday's Close: $252.01

Craig Wong-Pan from RBC Capital boosted his rating on ResMed from Sector Perform to Outperform and increased the price target from $255 to $294. ResMed, a leader in medical devices and cloud-based healthcare software, has analyst price targets ranging from $200.00 to $324.07. The median forecast stands at $284.00, while the average sits at $277.42, reflecting strong investor confidence in its health tech solutions.

3. Arm Holdings plc (ARM)

Analyst Firm: BNP Paribas Exane

Upgraded: Neutral to Outperform

Price Target: $210

Yesterday's Close: $147.11

David O'Connor, an analyst at BNP Paribas Exane, upgraded his stance on Arm from Neutral to Outperform, assigning it a $210 price target. Arm Holdings, known for licensing CPU technologies to tech giants, has price targets spanning from $80.00 to $187.00. The median target is $150.00, with an average of $143.22, suggesting steady interest in its role powering everything from smartphones to data centers.

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.