Good Morning, Traders!…👋

U.S. stock futures traded lower early Wednesday as investors braced for fresh inflation data and more clarity on a newly outlined U.S.-China trade agreement.

Following two days of negotiations in London, U.S. and Chinese officials announced they had reached a tentative trade deal framework. The agreement, which still requires final approval from both President Trump and President Xi, includes a rollback of U.S. export restrictions on advanced technology in exchange for increased Chinese exports of rare earth minerals.

In separate trade news, the Trump administration is reportedly nearing an agreement with Mexico to lift a 50% tariff on certain steel imports, according to Bloomberg.

Investors will also focus on May’s Consumer Price Index report due before the bell — the first full inflation readout since Trump’s sweeping tariff announcement in early April. Economists expect a 0.2% month-over-month rise, with annual inflation climbing to 2.4%.

Earnings Watch

Earnings hit today from Chewy $CHWY, Victoria’s Secret $VSCO, and J.Jill $JILL before open, plus Oracle $ORCL and Oxford Industries $OXM after close.

Analysts expect CHWY to post $0.35 EPS with pet retail strength, VSCO to hit $0.05 EPS, JILL at $1.12 EPS, ORCL to deliver $1.64 EPS on cloud growth, and OXM at $2.65 EPS.

Happening Today

✓ 08:30 AM ET – CPI (MoM) (YoY) (May)

✓ 10:30 AM ET – Crude Oil Inventories

✓ 01:00 PM ET – 10-Year Note Auction

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

PREMARKET SNAPSHOT 📈

U.S. equity futures edged lower this morning—S&P down 0.18%, Dow off 0.20%, Nasdaq down 0.18%—as investors remained cautious following a vague U.S.–China trade framework announced in London and await fresh U.S. inflation data, while a federal appeals court's decision to maintain existing tariffs added to uncertainty.

SECTOR SNAPSHOT✨

The market leaned broadly positive with strong gains in consumer discretionary, energy, and health care. Communication services and tech also pushed higher, while real estate and materials posted modest advances. Consumer staples and utilities ticked up slightly. Industrials was the only major sector to decline, dipping 0.44%. Overall, sector strength was widespread, reflecting broad investor confidence.

PreMarket Unusual Volume Stocks

📈 ZW Data Action Technologies Inc. ($CNET) soared 39.13% to $1.26 with volume exploding to 4.49M—up a massive 109,905.77% from average levels.

📈 FST Corp. ($KBSX) surged 73.08% to $1.56 on 7.36M shares traded—volume spiked 2,055.33%, putting it firmly on traders’ radars.

📈 Vaxart, Inc. ($VXRT) jumped 50.78% to $0.3929 with 9.3M in volume, showing a 1,396.04% increase—momentum clearly building.

📈 Imunon, Inc. ($IMNN) gained 14.20% to $1.62 on 168.89K shares—501.31% above its norm, signaling unusual buying interest.

📈 AbCellera Biologics Inc. ($ABCL) rose 12.25% to $3.02 on volume of 222.4K, marking a 312.23% volume surge.

Premarket Picks

Shares of Catheter Precision, Inc. (VTAK) soared 97.06% in pre-market trading, reaching $0.44. The spike follows the company's announcement that it received its first purchase order from Sweden for its VIVO product.

Vaxart, Inc. (VXRT) rose 51.05% pre-market to $0.59. The jump comes ahead of the company’s release of topline data from its norovirus Phase I trial, expected before the market opens today.

ZW Data Action Technologies Inc. (CNET) climbed 51.77% to $1.92 in early trading. The rally was triggered after the company filed an 8-K form with the SEC, drawing investor interest.

Getty Images Holdings, Inc. (GETY) saw a modest pre-market gain of 8.28%, trading at $1.83. The move follows news that Shutterstock stockholders have approved the proposed merger with Getty Images.

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

Top Upgrades:

1. First Solar, Inc. (FSLR)

Analyst Firm: Jefferies
Upgraded: Hold to Buy
Price Target: $192
Yesterday's Close: $164.62

Jefferies analyst Julien Dumoulin-Smith raised his rating on First Solar from Hold to Buy and increased the price target from $157 to $192. First Solar, a global provider of solar panels and photovoltaic (PV) energy solutions, has an average stock price target of $203.19. Analyst projections range from a low of $100.00 to a high of $304.00, with a median estimate of $200.00.

2. Urban Outfitters, Inc. (URBN)

Analyst Firm: Baird
Upgraded: Neutral to Outperform
Price Target: $90
Yesterday's Close: $69.23

Baird boosted its rating on Urban Outfitters to Outperform from Neutral and raised the price target to $90 from $75 after the company’s investor day. Urban Outfitters, known for its lifestyle products and services, has an average stock price target of $76.64. Analysts set the price target between $70.00 (low) and $90.00 (high), with the median at $76.00.

3. The J. M. Smucker Company (SJM)

Analyst Firm: Jefferies
Upgraded: Hold to Buy
Price Target: $115
Yesterday's Close: $94.41

Jefferies upgraded J.M. Smucker from Hold to Buy, setting a new price target of $115. The J. M. Smucker Company, a leading producer of branded food and beverages, has an average stock price target of $115.23. Price expectations range from $94.00 on the low end to $129.00 on the high end, with a median of $115.00.

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.