Good Morning, Traders!…👋

U.S. stock futures showed a mixed trend early Thursday, following the Dow Jones Industrial Average's record close for the second time this week. Investors are focusing on upcoming retail sales figures and a series of corporate earnings reports.

In related news, the Russell 2000 index and S&P Small Cap 600 both achieved their highest closing levels since 2021, suggesting that some investors may be shifting from more expensive tech stocks to more affordable sectors.

Piper Sandler’s analyst, Kantrowitz, noted recent buying activity but expressed skepticism about a broader trend towards small-cap stocks. He stated, “While there is a diversification in portfolio exposure, investors still prefer familiar fundamentals.” He observed that while high-quality small-cap stocks are being purchased, there hasn't been much interest in deeper-value stocks that would typically garner attention during a full rotation.

On the economic front, traders are anticipating weekly jobless claims and retail sales data for September, both set to be released on Thursday. Additionally, reports on industrial and manufacturing production are expected.

Happening Today

✓ 08:30 AM ET – Initial Jobless Claims

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

✓ 08:30 AM ET – Philadelphia Fed Manufacturing Index (Oct)

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

✓ 11:00 AM ET – Crude Oil Inventories

✓ 12:00 PM ET – Atlanta Fed GDPNow (Q3)

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

✓ 04:00 PM ET – TIC Net Long-Term Transactions (Aug)

PREMARKET SNAPSHOT 📈

Market futures are showing strong gains for the S&P 500 and NASDAQ, up 0.72% and 0.89% respectively, while the Dow is down slightly by 0.07%.

SECTOR SNAPSHOT✨

Yesterday's market demonstrated a positive trend, with most sectors showing gains. Consumer Discretionary and Financials led the way with solid increases, indicating strong investor confidence. Energy also performed well, contributing to the overall positive sentiment. Health Care and Industrials saw moderate gains, while Materials had a notable uptick. Real Estate continued its upward momentum with a significant rise. Information Technology experienced a slight increase, but Communication Services faced a minor decline. Utilities stood out with a strong gain, rounding out a day characterized by broad-based strength across the market.

PreMarket Unusual Volume Stocks

📈 Nixxy Inc. (NIXX) is showing a massive pre-market surge, with over 9.6 million shares traded compared to its average volume of 42K. The stock has skyrocketed 248.95%, bringing its pre-market price to $8.27. This sharp rise indicates strong investor interest heading into the trading session.

📈 Notable Labs Ltd (NTBL) has seen significant pre-market activity, trading over 8.2 million shares compared to its average volume of 204K. The stock is up 90.08%, bringing its pre-market price to $0.46. This substantial gain suggests continued momentum as markets open.

📈 Brera Holdings PLC (BREA) is experiencing heightened pre-market volume, trading over 11.5 million shares against its average of 459K. The stock has gained 135.43%, pushing its pre-market price to $1.64. This sharp rise in volume and price signals strong interest from investors.

📈 Upexi Inc (UPXI) has traded over 1.3 million shares pre-market, far exceeding its average volume of 63K. The stock is up 64.03%, bringing its pre-market price to $4.15. This significant gain points to strong early market interest.

📈 Netcapital Inc (NCPL) has seen pre-market activity of over 3.5 million shares, compared to its average volume of 188K. The stock has risen 7.14%, bringing its pre-market price to $1.80. This moderate gain suggests positive sentiment heading into the regular trading day.

Premarket Picks

Staffing 360 Solutions, Inc. (STAF) saw its shares soar by 197.10%, hitting a pre-market price of $4.10. The company has recently submitted an 8-K form to the SEC.

Nixxy, Inc. (NIXX) experienced an increase of 182.28% in its stock, which reached a pre-market price of $6.69. This rise followed an update on its strategy to acquire businesses in traditional sectors and improve their operations through advanced technology and data analytics.

Gevo, Inc. (GEVO) enjoyed a significant 40.40% rise in its shares, pushing its pre-market price up to $3.15 after announcing that it received a conditional loan guarantee of $1.46 billion from the U.S. Department of Energy for its Net-Zero 1 project in South Dakota.

Calumet, Inc. (CLMT) rose by 16.14%, with its pre-market price climbing to $25.47 after securing a conditional commitment of $1.44 billion from the DOE for a renewable fuels and biomass energy facility.

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

Top Upgrades:

1. Illumina, Inc. (ILMN)

Analyst Firm: HSBC
Upgrade: Hold to Buy
Price Target: $180
Yesterday's Close: $143.89

HSBC has upgraded Illumina, Inc. from "Hold" to "Buy," setting a new price target of $180. The stock price target for Illumina ranges from a high of $252.00 to a low of $105.00, with a median of $154.50 and an average target of $152.59.

Illumina is a global leader in DNA sequencing and array technologies, dedicated to enhancing human health by unlocking the potential of the genome. The company serves customers in research, clinical, and applied markets.

2. Sealed Air Corporation (SEE)

Analyst Firm: Raymond James
Upgrade: Market Perform to Strong Buy
Price Target: $42
Yesterday's Close: $35.30

Raymond James has upgraded Sealed Air Corporation from "Market Perform" to "Strong Buy," raising the price target to $42. Analysts estimate the stock price target with a high of $48.80, a median of $41.00, a low of $33.00, and an average of $41.14.

Sealed Air is a leading provider of innovative packaging solutions, focusing on designing sustainable packaging that preserves food, protects products, and automates packaging processes.

3. Lithium Americas Corp. (LAC)

Analyst Firm: National Bank
Upgrade: Sector Perform to Outperform
Price Target: $5.26
Yesterday's Close: $3.29

National Bank has upgraded Lithium Americas from "Sector Perform" to "Outperform," setting a price target of $5.26. Analysts forecast a stock price target ranging from a high of $10.50 to a low of $2.50, with a median of $5.13 and an average of $5.88.

Lithium Americas is focused on the responsible development of the Thacker Pass project in Humboldt County, Nevada, the largest known Measured and Indicated lithium resource in North America.

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.