Hello Part-time Trader…👋

After a volatile previous week, U.S. stock markets opened with relative calm this Monday in August. Many traders, likely wishing for a vacation break, are instead seeing mixed movements in premarket trading across the major indexes.

Inflation remains a central theme this week. Investors are closely watching for any hints on the Federal Reserve's next actions, with the markets factoring in possible adjustments to interest rates—either a quarter-point cut or a half-point reduction—as per the CME FedWatch tool.

In the cryptocurrency sector, Bitcoin experienced a downturn on Monday, alongside Ether and Solana, setting the stage for another potentially unpredictable week.

Meanwhile, gold futures edged up by 0.2% to $2,479.20 per troy ounce, remaining within a narrow price range as investors search for a driving catalyst.

In tech news, Nvidia showed early gains as it seeks to address investor concerns about its upcoming generation of processors ahead of its earnings report.

Happening Today

✓ 07:00 AM ET – UOPEC Monthly Report

✓ 11:00 AM ET – NY Fed 1-Year Consumer Inflation Expectations (Jul)

✓ 12:00 PM ET – WASDE Report

✓ 02:00 PM ET – Federal Budget Balance (Jul)

PREMARKET SNAPSHOT📈

Market futures are up, with the S&P 500 and NASDAQ both rising by 0.20%, and the Dow up by 0.13%.

SECTOR SNAPSHOT✨

The market continued its positive momentum, with modest gains across most sectors. Information Technology and Communication Services led the way, reinforcing investor confidence. Health Care and Financials also posted steady increases, while Consumer Discretionary and Energy contributed to the overall upbeat sentiment. Real Estate showed resilience with a solid gain, although Materials slightly lagged behind with a minor decline. Overall, it was a day of cautious optimism, with most sectors ending in the green.

PreMarket Unusual Volume Stocks

📈 LogicMark Inc (LGMK): LogicMark Inc experienced a significant increase in trading activity with a volume of 19,954,417, far exceeding its average volume of 237,680. This surge in activity led to a 21.31% price change, reflecting heightened market interest.

📈 PS International Group Ltd. (PSIG): PS International Group Ltd. saw an extraordinary surge in volume, trading 18,170,192 shares compared to its average of 414,520. This dramatic increase resulted in an 81.19% price change, indicating strong investor activity.

📈 Ainos Inc (AIMD): Ainos Inc's trading volume rose to 8,111,323, significantly higher than its average of 785,960. The stock's price change of 37.20% mirrors this spike in trading volume.

📈 Interactive Strength Inc (TRNR): Interactive Strength Inc saw its volume rise to 12,537,386, far surpassing its average of 1,392,550. This increase in trading activity resulted in a 125.59% price change.

📈 FSD Pharma Inc (HUGE): FSD Pharma Inc's volume spiked to 37,153,123, a substantial increase from its average of 21,529,050. Despite the increased trading activity, the stock experienced a modest 6.15% price change.

Premarket Picks

Ainos, Inc. (AIMD) stock skyrocketed by over 38.16% to $0.72 in early trading after revealing that it has obtained exclusive licenses for a total of 10 invention patents and patent applications from Taiwan Carbon Nano Technology, the Company's affiliate and product co-developer.

Interactive Strength Inc. (TRNR) shares jumped almost 107.43% to $0.71 before the market opened, after announcing that the Company received a letter stating that the Nasdaq Hearings Panel has granted the Company's request for continued listing on the Nasdaq Stock Market..

KeyCorp (KEY) stock climbed more than 18.69% to $17.34 in pre-market trading after announcing that it has reached an agreement under which The Bank of Nova Scotia (BNS) will make a strategic minority investment in KeyCorp of approximately $2.8 billion, representing approximately 14.9% pro forma common stock ownership, for a fixed price of $17.17 per share..

FSD Pharma Inc. (HUGE) shares surged nearly 6.15% to $0.21 before market open, after announcing Sshare consolidation and name change.

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

Top Upgrades:

1. Take-Two Interactive Software, Inc. (TTWO)

Analyst Firm: HSBC
Price target: $179
Friday’s market close: $144.82

HSBC has shown strong confidence in Take-Two Interactive Software, Inc. by upgrading its price target to $179. This new target suggests significant upside potential from the company's current standing, as the stock closed at $144.82 on Friday. The company has a stock price target set by analysts with a high of $206.20, a median of $184.00, a low of $140.00, and an average of $180.23.

Take-Two Interactive Software, Inc. (TTWO) is a prominent player in the gaming industry, developing and publishing products through well-known labels such as Rockstar Games, 2K, Private Division, and Zynga. Take-Two's diverse portfolio caters to console gaming systems, PCs, and mobile devices, including smartphones and tablets, making it a significant force in both traditional and mobile gaming markets.

2. Robinhood Markets, Inc. (HOOD)

Analyst Firm: Piper Sandler
Price target: $23
Friday’s market close: $17.92

Piper Sandler has upgraded Robinhood Markets, Inc., setting a new price target of $23. This revision indicates a positive outlook on Robinhood's growth prospects, with the new target offering a notable increase from its recent close of $17.92.

Robinhood Markets, Inc. (HOOD) has a stock price target with a high of $30.00, a median of $22.75, a low of $17.00, and an average of $23.09, according to analyst estimates.

Robinhood is dedicated to democratizing finance, offering users the ability to invest with no account minimums, trade cryptocurrencies, and utilize debit and credit cards with rewards in the United States. In the U.K., the platform provides commission-free U.S. stock trading, and in select areas of the EU, it offers crypto trading. Robinhood also enhances financial literacy through its educational platform, Robinhood Learn.

3. The Allstate Corporation (ALL)

Analyst Firm: Wells Fargo
Price target: $177
Friday’s market close: $171.03

Wells Fargo has expressed a favorable view of The Allstate Corporation by raising its price target to $177. This new target is slightly higher than the stock's Friday closing price of $171.03, signaling steady confidence in Allstate's financial health and market position.

The Allstate Corporation (ALL) has a stock price target that ranges from a high of $226.00 to a low of $142.00, with a median of $200.00. Allstate, along with its subsidiaries, delivers a variety of insurance products, including property and casualty insurance, across the United States and Canada.

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.