Good Morning, Traders!…👋

Donald Trump has won the presidential election, and U.S. stocks are set to rally in response. Dow Jones Industrial Average futures surged more than 1,200 points, or around 2.9%, after the Associated Press projected Trump as the winner following key victories in battleground states over Vice President Kamala Harris.

Markets are gearing up for a strong open on Wednesday, with S&P 500 futures up more than 2% and Nasdaq futures climbing 1.8%. Historically, a divided government is viewed as a positive for markets, as it reduces the likelihood of sweeping policy changes that could impact specific sectors. However, investors may also welcome the potential for Trump to advance his corporate tax cut proposals if Republicans secure control of both the House and Senate.

In individual stock moves, Trump Media shares surged as Trump secured the presidency, Tesla rallied, and Coinbase along with other crypto stocks rose as Bitcoin reached a record high.

Happening Today

✓ 10:00 AM ET - ISM Non-Manufacturing PMI/Prices (Oct)

✓ 01:00 PM ET – 30-Year Bond Auction

PREMARKET SNAPSHOT 📈

Market futures are showing significant gains, with the S&P 500 up 1.91%, the Dow rising 2.77%, and the NASDAQ gaining 1.30%.

SECTOR SNAPSHOT✨

Yesterday's market showed strong positive momentum across nearly all sectors. Consumer Discretionary led the way with a significant increase, reflecting robust consumer confidence. Consumer Staples and Energy also posted solid gains, contributing to the overall positive sentiment. Financials and Health Care experienced notable upticks, while Industrials showed impressive growth as well. Materials and Real Estate recorded modest increases, indicating stability in those areas. Information Technology and Communication Services followed suit with solid gains, and Utilities rounded out the day with a significant rise. Overall, it was a day characterized by widespread strength across the market.

PreMarket Unusual Volume Stocks

📈 FOXO Technologies Inc (FOXO) experienced an impressive surge in trading volume today, with over 35.3 million shares traded, far surpassing its average volume of 269K. The stock price climbed 84.72%, closing at $0.25. This substantial increase indicates strong investor interest and momentum within the company.

📈 DatChat Inc (DATS) saw a remarkable 131.28% increase in its stock price, reaching $4.14, supported by a significant trading volume of 19.3 million shares compared to its average of 201K. This surge suggests heightened market attention and positive sentiment surrounding DatChat’s potential and recent developments.

📈 American Rebel Holdings Inc (AREB) reported a notable rise of 29.75%, closing at $3.62, with a trading volume of over 1.1 million shares, which is significantly higher than its average of 359K. The increase in price and volume points to increased investor confidence in the company’s outlook.

📈 ARB IOT Group Ltd (ARBB) witnessed strong trading activity, with over 10.5 million shares changing hands, well above its average volume of 5.2 million. The stock price surged 53.34% to $0.87, reflecting strong investor interest and positive market sentiment in the technology sector.

📈 Destiny Tech100 Inc (DXYZ) experienced a healthy trading volume of 295K shares, above its average of 246K, and saw its stock rise 16.91% to $13.55. This gain highlights a positive response from investors, suggesting growing interest in the company’s potential.

Premarket Picks

ARB IOT Group Limited (ARBB) saw a significant pre-market surge of 53.53%, with shares rising to $0.8667. This increase followed the announcement that the company, through its wholly owned subsidiary ARBIOT Sdn Bhd, signed a Memorandum of Understanding with ASUSTeK Computer Inc. and ServerSphere to collaborate on global artificial intelligence (AI) server solutions.

Trump Media & Technology Group Corp. (DJT) experienced a pre-market surge of 38.48%, with shares reaching $47.00. This boost came after the news of a comeback victory for the second-time President, sparking optimism among investors.

Phunware, Inc. (PHUN) saw its pre-market price rise by 27.63%, reaching $8.13, following the announcement of Rahul Mewawalla’s appointment as Chairman of the Board. Mewawalla has been serving as a director of the company since October 2021.

Tesla, Inc. (TSLA) saw a pre-market increase of 12.08%, with shares climbing to $281.82. This surge reflects investor optimism that Tesla and CEO Elon Musk could benefit from a potential second Trump presidency.

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

Top Upgrades:

1. Beam Therapeutics Inc. (BEAM)

Analyst Firm: Leerink
Upgrade: Market Perform to Outperform
Price Target: $39
Yesterday's Close: $23.93

Leerink has upgraded Beam Therapeutics from Market Perform to Outperform, raising its price target to $39 from $27. Beam Therapeutics, a pioneering biotechnology company specializing in precision genetic medicines, has a stock price target range set by analysts with a high of $80.00, a median of $48.00, and a low of $23.00, leading to an average target of $48.40. The company focuses on creating a fully integrated platform for gene editing and therapies.

2. The Clorox Company (CLX)

Analyst Firm: TD Cowen
Upgrade: Sell to Hold
Price Target: $170
Yesterday's Close: $162.42

TD Cowen upgraded The Clorox Company from Sell to Hold, revising its price target to $170 from $155. The Clorox Company, a leading global producer of consumer and professional products, operates through four segments: Health and Wellness, Household, Lifestyle, and International. The stock price target range for Clorox includes a high of $188.00, a median of $160.00, and a low of $139.00, resulting in an average of $160.94.

3. Celanese Corporation (CE)

Analyst Firm: Deutsche Bank
Upgrade: Hold to Buy
Price Target: $110
Yesterday's Close: $91.00

Deutsche Bank has raised Celanese Corporation's rating from Hold to Buy, setting a new price target of $110. Celanese, a global producer of high-performance engineered polymers and chemical materials, has a stock price target range with a high of $170.00, a median of $130.00, and a low of $92.00, yielding an average target of $129.42. The company operates through its Engineered Materials and Acetyl Chain segments.

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.