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Economic Data & Stock Action: Your Daily Briefing
Noor Saba
April 17, 2024
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Hello Part-time Trader…👋
Premium Stock Alerts is here with your pre-market cheat sheet. In today's issue, we delve into:
Fed's Latest Announcements: Understand the Federal Reserve's recent decisions and economic outlook, and how they might influence the markets.
Volume Anomalies: Identify stocks witnessing unusual trading volumes, pointing to potential opportunities or risks.
Top Pre-Market Movers: Identify early winners poised for a strong market opening.
Market Indices & Sector Overview: Get a snapshot of key market indices and sector performances to gauge the day's potential trends.
FDA Approvals & Upcoming Decisions: Keep an eye on the latest FDA approvals and crucial upcoming decisions affecting biotech and pharmaceutical stocks.
Now, let's dive into today's edition for a closer look at the insights and analysis that will shape your trading decisions.
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Happening Today
✓ 10:30 AM ET – EIA Refinery Crude Runs (WoW)
✓ 10:30 AM ET – Crude Oil Imports
✓ 10:30 AM ET – Distillate Fuel Production
✓ 10:30 AM ET – Cushing Crude Oil Inventories
✓ 10:30 AM ET – Crude Oil Inventories
PREMARKET SNAPSHOT 📈
Stock futures show a mixed bag with S&P 500 leading the pack with a dip of 0.21%, while Dow Jones and NASDAQ trade mixed.
S&P500$5,051.41 ⬇️ -0.21% | Dow$37,798.97 ⬆️ 0.17% | NASDAQ$15,865.25 ⬇️ -0.12% |
SECTOR SNAPSHOT ✨
Most sectors are in the red today, with Real Estate leading the decline at -1.53%.
NAME | PRICE | %CHANGE |
|---|---|---|
Consumer Discretionary | 1,416.78 | -0.52% 🔴 |
Consumer Staples | 780.01 | +0.07% 🟢 |
Energy | 722.02 | -0.87% 🔴 |
Financials | 658.92 | -0.62% 🔴 |
Health Care | 1,616.11 | +0.02% 🟢 |
Industrials | 1,030.89 | -0.20% 🔴 |
Materials | 559.27 | -0.74% 🔴 |
Real Estate | 225.82 | -1.53% 🔴 |
Information Technology | 3,707.67 | +0.23% 🟢 |
Communication Services | 284.78 | -0.12% 🔴 |
Utilities | 318.73 | -1.36% 🔴 |
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Unusual Volume
📈 Jaguar Health Inc (JAGX) jumped 50.08% to $0.18 on a whopping 604.72 million shares traded after announcing that it has signed an exclusive 5-year in-license agreement with United Kingdom-based Venture Life Group PLC for Venture Life's FDA-approved oral mucositis prescription product, Gelclair, for the U.S. market.
📈 Investors went wild, sending WiSA Technologies Inc (WISA) stock soaring 248.57% to $6.10 on a massive volume of 198.91 million shares after the company’s subsidiary WiSA Association announced that it has executed its fourth 5-year WiSA E licensing agreement with a fourth major HDTV/PTV (Projection TV) brand.
📈 Abnormal activity shook Pacific Biosciences of California Inc (PACB), pushing it down -50.62% to $1.40 on a whopping 65.08 million shares traded. The company announced preliminary, unaudited revenue for the quarter ended March 31, 2024.
📈 Peraso Inc (PRSO) stock recently closed 21.26% upper at $1.54 on substantial volume of 61.38 million shares. This unusual activity came after the company announced that Panasonic System Networks R&D Lab. Co., Ltd. (PSNRD) has adopted Peraso's X710 chipset for its new 60GHz WLAN solution.
📈 China SXT Pharmaceuticals Inc (SXTC) increase by 38.46% in a single trading session, with abnormally high trading volume of 34.44 million shares.
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Premarket Movers
INVO Bioscience, Inc. (INVO) experiences a substantial 88.46% surge in pre-market trading following the reports of fourth quarter and full year 2023 financial results.
Spectaire Holdings Inc. (SPEC) sees a significant 41.23% increase, reaching a pre-market price of $1.12 after announcing strategic distribution partnership with a Fortune 1000 Energy Company.
Clene Inc. (CLNN) demonstrates a noteworthy 12.03% surge, with a pre-market price of $0.34. The company presented the Phase 2 VISIONARY-MS long term extension (LTE) study results at the 2024 American Academy of Neurology (AAN) Annual Meeting in Denver.
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
INVO | +88.46% | 5.34M |
MGAM | +13.83% | 4.63M |
SPEC | +41.23% | 2.84M |
CLNN | +12.03% | 2.62M |
GRTX | +26.41% | 2.52M |
VNDA | +26.67% | 1.57M |
CXAI | +21.74% | 1.38M |
NKLA | +3.71% | 614.55K |
PXMD | +5.94% | 122.76K |
NBY | +11.82% | 122.54K |
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Important FDA
Recently Announced
Supernus Pharmaceuticals, Inc. (SUPN) Parkinson's drug SPN-830 received a setback on April 8, 2024 with a Complete Response Letter from the FDA, requiring more work before approval.
AbbVie (ABBV) achieved a major win on March 22, 2024 as the FDA granted full approval for their ovarian cancer drug ELAHERE, previously approved on an accelerated basis.
Bristol-Myers Squibb Co. (BMY) celebrated a milestone on March 7, 2024 with the FDA approval of Opdivo for use with chemotherapy in treating urothelial carcinoma, offering a new first-line treatment option for some patients.
Upcoming Announcements
The FDA has a busy April schedule with key decisions on three drugs that could significantly impact treatment options in different areas:
ImmunityBio (IBRX) awaits an April 23rd decision on N-803 for bladder cancer, potentially offering a new approach to managing the disease.
Aquestive Therapeutics Inc. (AQST) hopes for an April 28th approval of Libervant for childhood epilepsy, potentially transforming treatment for this age group.
XOMA Corporation (XOMA) anticipates an April 30th decision on tovorafenib for pediatric glioma, potentially providing new hope for children with this cancer.
🎁 Looking for More? Check out these complementary newsletters for diverse perspectives:
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Happy investing,
Maeve Grace
Editor In Cheif
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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