Good Morning, Traders!…👋

U.S. stock futures are climbing early Wednesday as traders shift focus from political developments in South Korea to the potential for further Federal Reserve rate cuts. The yield on the 10-year Treasury note ticked up to 4.247%, reflecting market anticipation ahead of Fed Chair Jerome Powell’s moderated discussion later today, which could provide critical insights into the central bank's outlook before Friday’s jobs report.

In the crypto market, XRP has surged 400% since Donald Trump’s election victory, outperforming Bitcoin. Optimism is building among crypto bulls, who hope the SEC may drop its case against Ripple Labs, further boosting XRP’s momentum.

Super Micro stock continues to slide, down 4% on Tuesday and edging lower in premarket trading as Wall Street awaits updates on the delayed financial reports from the AI server maker, with concerns over lingering risks.

Happening Today

✓ 08:15 AM ET – ADP Nonfarm Employment Change (Nov)

✓ 09:45 AM ET – S&P Global Services PMI (Nov)

✓ 10:00 AM ET – ISM Non-Manufacturing PMI & Prices (Nov)

✓ 10:30 AM ET – Crude Oil Inventories

✓ 01:45 PM ET – Fed Chair Powell Speaks

PREMARKET SNAPSHOT 📈

Market futures are up, with the S&P 500 rising 0.31%, the Dow gaining 0.45%, and the NASDAQ leading with a 0.66% increase.

SECTOR SNAPSHOT✨

Yesterday, the markets saw a mix of positive and negative performances across sectors. Consumer Discretionary led the gains with a modest rise of 0.13%, while Information Technology and Communication Services also posted solid increases of 0.56% and 1.12%, respectively. On the other hand, Consumer Staples, Energy, and Financials struggled, showing declines of 0.46%, 0.05%, and 0.75%. Health Care and Industrials also faced losses, down 0.19% and 0.65%, respectively. Real Estate and Materials followed suit with slight declines of 0.61% and 0.33%. Utilities dropped by 0.88%, rounding off a challenging day for many sectors.

PreMarket Unusual Volume Stocks

📈 Eterna Therapeutics Inc (ERNA) experienced an impressive rally, with its stock price climbing 71.03% to close at $0.62. The trading volume reached 6.37 million shares, significantly surpassing its average of 107K, indicating heightened investor interest and optimism in the biotech sector.

📈 Can-Fite Biopharma Ltd ADR (CANF) posted a modest 3.52% gain, ending the session at $2.06. The trading volume was 4.86 million shares, well above its average of 102K, reflecting growing market attention on the company's advancements in biopharma.

📈 Viracta Therapeutics Inc (VIRX) saw a solid 19.78% increase, closing at $0.19. The trading volume surged to 31.2 million shares, far exceeding its average of 1.25 million, signaling strong interest from investors in the therapeutic space.

📈 Fusion Fuel Green Ltd (HTOO) recorded a strong 50.94% jump in its stock price, ending at $0.48. The trading volume reached 9.07 million shares, surpassing its average of 658K, showcasing enthusiasm in the green energy sector.

📈 SRIVARU Holding Ltd (SVMH) saw a notable 32.27% rise, closing at $0.03. The trading volume was a staggering 194.6 million shares, dwarfing its average of 25.5 million, highlighting significant interest in the company's recent developments.

Premarket Picks

CN Energy Group, Inc. (CNEY) saw a significant pre-market surge of 191.32%, with its stock price reaching $0.92. This increase followed the company receiving an extension on NASDAQ's minimum bid price requirement, providing more time to meet the listing standards.

Heron Therapeutics, Inc. (HRTX) experienced a notable pre-market gain of 70.33%, bringing its stock price to $2.01. The surge followed a favorable ruling from the U.S. District Court for the District of Delaware in Heron's patent litigation case against Fresenius Kabi USA, LLC, concerning the CINVANTI injectable emulsion.

Pure Storage, Inc. (PSTG) saw its stock price rise by 22.34% to $65.50 in pre-market trading. The boost came after the company announced a collaboration with Kioxia Corporation to develop advanced technology aimed at meeting the growing demand for high-performance storage infrastructure in hyperscale environments.

Eterna Therapeutics Inc. (ERNA) surged by 76.47%, with its pre-market price reaching $0.63. This increase followed the announcement of a sponsored research agreement with The University of Texas MD Anderson Cancer Center to investigate the potential of its lead iMSC-based cell therapy, ERNA-101, in treating ovarian and breast cancers.

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

Top Upgrades:

1. Trimble Inc. (TRMB)

Analyst Firm: JPMorgan
Upgrade: Neutral → Overweight
Price Target: $92
Yesterday's Close: $73.95

JPMorgan has upgraded Trimble Inc. to Overweight from Neutral, raising its price target to $92, up from $74. Trimble is at the forefront of bridging the digital and physical worlds, leveraging positioning, modeling, and data analytics to transform industries and improve productivity, quality, safety, and sustainability. Analysts project the stock price target to range from a low of $77.00 to a high of $92.00, with a median target of $82.00 and an average of $82.80.

2. Merck & Co., Inc. (MRK)

Analyst Firm: HSBC
Upgrade: Hold → Buy
Price Target: $130
Yesterday's Close: $101.85

HSBC has elevated Merck & Co., Inc. to a Buy rating from Hold, setting a price target of $130. As a global leader in healthcare innovation, Merck is dedicated to advancing scientific discovery to improve and save lives. Analyst estimates for Merck’s stock price target range from a low of $100.00 to a high of $155.00, with a median target of $130.00 and an average of $130.53.

3. Pure Storage, Inc. (PSTG)

Analyst Firm: Piper Sandler
Upgrade: Neutral → Overweight
Price Target: $76
Yesterday's Close: $53.54

Piper Sandler has upgraded Pure Storage, Inc. to Overweight from Neutral, revising the price target to $76, up from $56. As an industry leader in advanced data storage platforms, Pure Storage empowers businesses to manage, store, and protect data at any scale. Analysts predict the stock price target will range from a low of $45.00 to a high of $93.00, with a median target of $70.00 and an average of $70.47.

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.