Hello Part-time Trader…👋

U.S. stocks were rising in the premarket Tuesday following gains led by smaller companies on Monday.

Unlike much of the past year, smaller market value companies led the charge instead of big names like Nvidia, Microsoft, Apple, or Tesla. The Russell 2000 index of small-cap stocks reached its highest level since 2022. Earnings reports from major banks such as Bank of America and Morgan Stanley, along with economic data on retail sales, could influence the market on Tuesday.

Bond yields were lower. The yield on the benchmark 10-year U.S. Treasury bond stood at 4.194% early Monday, compared to 4.215% later in the day. The yield on the 2-year note was at 4.442%, compared to 4.453%.

Gold futures were rising by 0.6% to $2,442.4 per troy ounce, in a delayed bullish reaction to the attempted assassination of former President Donald Trump over the weekend.

Trump Media stock fell after the company filed for the resale of nearly 38 million common shares, while Tesla extended its gains. UnitedHealth surpassed earnings estimates.

Happening Today

✓ 08:30 AM ET – Core Retail Sales (MoM) (Jun)

✓ 08:30 AM ET – Import & Export Price Index (MoM) (Jun)

✓ 08:30 AM ET – Retail Control & Sales (MoM) (Jun)

✓ 10:00 AM ET – Business Inventories (MoM) (May)

✓ 10:00 AM ET – Retail Inventories Ex Auto (May)

✓ 12:00 PM ET – Atlanta Fed GDPNow (Q2)

✓ 04:30 PM ET – API Weekly Crude Oil Stock

PREMARKET SNAPSHOT 📈

Market futures are mixed, with the S&P 500 and NASDAQ showing gains, while the Dow is slightly down.

SECTOR SNAPSHOT ✨

The market displayed a blend of ups and downs. Energy and Financials surged ahead with notable gains, while Industrials and Information Technology also posted positive results. On the other hand, Consumer Discretionary and Consumer Staples faced declines, alongside a significant drop in Utilities. Health Care and Materials saw minor dips, but overall, the market maintained a positive sentiment with key sectors leading the charge.

PreMarket Unusual Volume Stocks

📈 Conduit Pharmaceuticals Inc (CDT): Conduit Pharmaceuticals Inc saw an extraordinary surge in trading activity with a volume of 27,583,244, far surpassing its average volume of 313.83. This massive uptick in interest resulted in a significant 59.17% price change, reflecting heightened market interest.

📈 SciSparc Ltd (SPRC): SciSparc Ltd experienced a substantial rise in volume, trading 8,587,736 shares compared to its average of 139.64. This dramatic increase in trading volume resulted in a 34.15% price change, indicating strong investor activity.

📈 SILO Pharma Inc (SILO): SILO Pharma Inc saw its trading volume surge to 8,746,674, significantly higher than its average of 254.04. The stock's price change of 101.87% mirrors this spike in trading volume.

📈 Meiwu Technology Company Ltd (WNW): Meiwu Technology Company Ltd's volume spiked to 5,240,102, a substantial increase from its average of 261.09. The stock's 21.35% price change highlights the impact of the increased trading activity.

📈 Vince Holding Corp (VNCE): Vince Holding Corp saw its volume rise to 358,595, far exceeding its average of 22.15. Despite the increased trading activity, the stock experienced a -12.33% price change.

Premarket Picks

Silo Pharma, Inc. (SILO) soared nearly 98.13% to almost $2.12 per share in pre-market after announcing that it has signed a global license to advance its Alzheimer’s drug SPC-14, using FDA's 505(b)(2) pathway to expedite clinical timelines and cut development costs.

SciSparc Ltd. (SPRC) also rose almost 36.28% to $1.15 per share in pre-market after announcing a U.S. patent application for Treating Metabolic Syndrome and Weight Loss.

The Singing Machine Company, Inc. (MICS) gained nearly 12.36% to over $1.00 per share after announcing that it has completed the acquisition of SemiCab, Inc., a leading artificial intelligence technology company in the global logistics space.

Onconetix, Inc. (ONCO) saw a more modest pre-market increase of 9.66% to $0.16 per share after announcing the closing of the warrant exercise for $1.11 million gross proceeds.

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

Important FDA 

Recently Announced

Arcutis Biotherapeutics (ARQT) received FDA approval on July 9th, 2024, for their Roflumilast Cream at a concentration of 0.15%. The cream is now authorized to treat mild to moderate eczema in adults and children aged six and above. Eczema, also known as atopic dermatitis, is the condition targeted by this newly approved treatment.

Rocket Pharmaceuticals (RCKT) faced a setback on June 28th, 2024, when the FDA requested additional information regarding their KRESLADI treatment. This necessitates further efforts by Rocket Pharmaceuticals before they can reapply for approval.

AbbVie (ABBV) celebrated positive news on June 26th, 2024! The FDA granted approval for their Epcoritamab-bysp treatment, designed for a specific type of lymphoma. This milestone marks a significant advancement for AbbVie and offers new hope to patients battling this form of cancer.

Upcoming Announcements

Investors interested in Phathom Pharmaceuticals (PHAT) should mark their calendars for July 19th, 2024. On that day, the FDA will announce its decision on the approval of VOQUEZNA Tablets, aimed at treating heartburn associated with non-erosive GERD.

AstraZeneca (AZN) investors should take note of July 25th, 2024. On this date, a panel of experts will convene to assess IMFINZI, a treatment for lung cancer. The evaluation will specifically focus on IMFINZI's efficacy in neoadjuvant therapy alongside chemotherapy and as a standalone treatment post-surgery, for adults with resectable non-small cell lung cancer.

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.