Good Morning, Traders!…👋

U.S. stock futures edged higher Thursday in quiet early trading as investors looked ahead to upcoming labor market data and awaited updates on tariff negotiations to help clarify the path forward for President Trump’s evolving trade agenda.

Dow futures rose 0.2%, following the index’s first decline in five sessions on Wednesday. Futures on the S&P 500 and Nasdaq 100 also gained around 0.2%.

Markets remain in a holding pattern after this week’s rally stalled midweek. Recent data pointing to softening private-sector hiring and slowing service-sector activity has renewed fears that the economy is beginning to absorb the impact of Trump’s sweeping tariffs.

Investors will get several important data points today, including weekly jobless claims, the Challenger May job cuts report, and updated figures on productivity and labor costs. These releases will set the stage for Friday’s all-important May jobs report, widely seen as a key gauge of how the labor market is holding up under intensifying trade pressures.

Earnings Watch

Earnings hit today from Dollar Tree $DLTR, Sprinklr $CXM, and Thor Industries $THO before open, plus MongoDB $MDB, Five Below $FIVE, Broadcom $AVGO, Lululemon Athletica $LULU, Victoria's Secret $VSCO, and DocuSign $DOCU after close.

Analysts expect DLTR to post $1.19 EPS with tariff pressures but store optimization gains, CXM to hit $0.04 EPS on steady SaaS demand, THO at $1.76 EPS amid RV market challenges, MDB to deliver $0.46 EPS driven by cloud growth, FIVE at $0.62 EPS with teen retail trends, AVGO at $1.57 EPS fueled by AI chip demand, LULU to reflect athletic apparel strength, VSCO to show retail positioning, and DOCU at stable execution with cautious optimism.

Happening Today

✓ 08:30 AM ET – Initial Jobless Claims

✓ 08:30 AM ET – Imports and Export (Apr)

✓ 08:30 AM ET – Nonfarm Productivity (QoQ) (Q1)

✓ 08:30 AM ET – Trade Balance (Apr)

✓ 08:30 AM ET – Unit Labor Costs (QoQ) (Q1)

✓ 01:00 PM ET – Atlanta Fed GDPNow (Q2)

✓ 01:30 PM ET – FOMC Member Harker Speaks

✓ 04:30 PM ET – Fed's Balance Sheet

PREMARKET SNAPSHOT 📈

U.S. equity futures are relatively flat this morning as investors await the upcoming nonfarm payrolls report and assess recent economic indicators. The S&P 500 futures dipped 0.02%, Dow Jones futures edged up 0.04%, and Nasdaq futures decreased 0.06%. Market participants are balancing optimism from strong corporate earnings, particularly in the technology sector, against concerns over economic growth and trade policies.

SECTOR SNAPSHOT✨

Tech stocks led the market higher with information technology rising 1.48%, supported by gains in energy, materials, and industrials. Consumer discretionary, health care, and financials also saw modest increases. However, communication services and real estate slipped, while consumer staples posted a slight decline. Overall, market sentiment remained constructive with strength in economically sensitive sectors.  

PreMarket Unusual Volume Stocks

📈 Cellectar Biosciences, Inc. (CLRB) jumped 10.46% to $0.4617 with 8.08M shares traded—volume spiked 54,564.11% over average, hinting at heavy momentum interest.

📈 Cheetah Net Supply Chain Service Inc. (CTNT) rallied 37.32% to $1.42 as volume surged to 12.65M, up 26,140.05%, suggesting traders are piling in aggressively.

📈 Hoth Therapeutics, Inc. (HOTH) edged up 5.23% to $1.53 on 631.45K shares—representing a 21,420.11% volume jump, possibly driven by renewed biotech interest.

📈 Liminatus Pharma, Inc. (LIMN) soared 90.56% to $12.71 with volume of 337.97K, a 13,225.11% increase, signaling a major breakout move.

📈 Treasure Global Inc. (TGL) climbed 29.73% to $1.48 with 917.23K shares traded, up 7,024.09% in volume—another sign of strong retail participation.

Premarket Picks

Shares of MongoDB, Inc. (MDB) surged 15.66% in pre-market trading, reaching $231.00. The jump follows the release of its first-quarter fiscal 2026 results, reporting total revenue of $549.0 million—an impressive 22% year-over-year increase. 

Planet Labs PBC (PL) rose 19.60% pre-market to $4.79 after posting record Q1 revenue of $66.3 million, up 10% YoY. The company also saw a sharp rise in remaining performance obligations (RPOs), which climbed 262% YoY to $451.9 million, with backlog up 140% to $527.0 million. 

Liminatus Pharma, Inc. (LIMN) saw a major pre-market gain of 62.47%, trading at $20.65. The surge follows the company’s filing of an 8-K form with the SEC, sparking investor interest. 

Verint Systems Inc. (VRNT) climbed 19.99% to $22.00 in pre-market hours after reporting its financial results for the quarter ending April 30, 2025, which investors reacted positively to.

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

Top Upgrades:

1. The Southern Company (SO) 

Analyst Firm: Jefferies 
Upgraded: Hold to Buy 
Price Target: $100 
Yesterday's Close: $88.29 

Jefferies has raised its rating on Southern Company, moving it from Hold to Buy, and set a new price target of $100. Analysts project a stock price target for The Southern Company ranging from a low of $78.00 to a high of $104.00, with a median estimate of $96.00 and an average of $95.20. The Southern Company delivers electricity through its subsidiaries by generating, transmitting, and distributing power. 

2. Dr. Reddy's Laboratories Limited (RDY) 

Analyst Firm: HSBC 
Upgraded: Hold to Buy 
Price Target: $16.90 
Yesterday's Close: $14.75 

HSBC has upgraded Dr. Reddy's from Hold to Buy and raised its price target to $16.90 from the previous $14.44. Dr. Reddy’s Laboratories has stock price targets from analysts ranging from $10.56 on the low end to $18.60 at the high end. The median target stands at $14.40, with an average of $14.76. The company is a global pharmaceutical player with integrated operations across its subsidiaries. 

3. Visa Inc. (V) 

Analyst Firm: Mizuho 
Upgraded: Neutral to Outperform 
Price Target: $425 
Yesterday's Close: $368.00 

Mizuho's Dan Dolev has upgraded Visa from Neutral to Outperform and raised the price target to $425, up from $359. Visa Inc. is projected to reach a stock price between $305.00 and $440.00, with a median forecast of $391.02 and an average estimate of $387.75. Visa operates as a leading payment technology company both in the U.S. and globally.

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.