Good Morning, Traders!…👋

U.S. stock futures slipped Tuesday as investor optimism over the U.S.-China tariff truce gave way to renewed economic concerns ahead of April’s Consumer Price Index report. The inflation data, due at 8:30 a.m. ET, is expected to offer the first real insight into the impact of President Trump’s recent tariff increases.

While the full effects of the tariffs may take time to materialize, bond markets are closely watching the CPI release for signals on the Federal Reserve’s next move. Traders now expect the first rate cut to come in September, a shift from earlier bets on a June move.

Meanwhile, corporate warnings are starting to roll in. Honda became the latest automaker to issue a profit alert, projecting a $3 billion annual hit from the new auto tariffs. The company’s U.S.-listed shares fell nearly 5% in premarket trading.

Earnings Watch

Earnings roll out today from JD.com $JD, Sea Limited $SE, and On Holding $ONON before open, plus Nu Holdings $NU and Oklo $OKLO after close.

Analysts expect JD to post $1.05 EPS with e-commerce strength, Sea to hit $0.63 EPS on gaming gains, ONON at $0.22 EPS, NU at $0.10 EPS with fintech growth, and Oklo with clean energy buzz—could these beats spark rallies?

Happening Today

✓ 08:30 AM ET – CPI (MoM) (YoY) (Apr)

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

PREMARKET SNAPSHOT 📈

U.S. equity futures dipped this morning as investors exercised caution ahead of the upcoming Consumer Price Index (CPI) report, which could influence the Federal Reserve's interest rate decisions.

SECTOR SNAPSHOT✨

Markets surged across the board yesterday, led by strong rallies in consumer discretionary, technology, and industrials. Financials, healthcare, and energy also posted solid gains, while communication services and materials followed with notable strength. Real estate and consumer staples were flat to slightly positive, while utilities was the only sector to close lower.

PreMarket Unusual Volume Stocks

📈 Baosheng Media Group Holdings Limited $BAOS is up 9.70% with 742K shares traded pre-market — a sharp 88,087% jump in volume. The unexpected activity hints at renewed speculative attention on the microcap name.

📈 Inno Holdings Inc. $INHD is surging 70.34%, with volume spiking to 4.51M, up 38,411% from average. Traders are piling in aggressively, likely anticipating news or reacting to recent momentum.

📈 Lichen International Limited $LICN has rallied 108.33%, seeing 3.15M shares change hands — a 20,367% increase. The volume surge signals a major shift in interest, possibly due to a catalyst or low-float dynamics.

📈 Wang & Lee Group, Inc. $WLGS is trading higher by 27.11% with 21.77M shares traded — a massive 15,316% increase. The move suggests speculative flows are targeting low-priced, low-float names.

📈 Xilio Therapeutics, Inc. $XLO is up 20.38% as volume hits 4.08M, a 7,510% jump. The biotech stock is drawing strong interest, potentially on clinical updates or sector-wide tailwinds.

Premarket Picks

Invivyd, Inc. (IVVD) jumps 11.01% pre-market to $0.93 after unveiling a new pipeline discovery program focused on monoclonal antibody treatments.

Coinbase Global, Inc. (COIN) surges 9.44% pre-market to $226.78 as it is set to be added to the S&P 500.

GigaCloud Technology Inc. (GCT) climbs 13.14% pre-market to $17.99 following the release of its financial results.

MicroAlgo Inc. (MLGO) rises 9.27% pre-market to $3.42 amid developments in its Quantum Convolutional Neural Network (QCNN) architecture.

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

Top Upgrades:

1. PDD Holdings Inc. (PDD)

Analyst Firm: Citigroup
Analyst: Alicia Yap
Rating Change: Neutral → Buy
Price Target: Raised from $127 to $165
Last Close: $114.57
Implied Upside: 43.17%

Citigroup upgraded PDD Holdings to Buy, citing strengthening fundamentals and expanding international growth. The revised price target of $165 reflects confidence in PDD's ability to sustain momentum. The average analyst price target is $144.24, signaling continued bullish sentiment across Wall Street.

2. Forge Global Holdings, Inc. (FRGE)

Analyst Firm: Piper Sandler
Analyst: Richard Repetto
Rating Change: Neutral → Overweight
Price Target: Maintained at $30
Last Close: $15.90
Implied Upside: 88.68%

Piper Sandler upgraded Forge Global to Overweight, maintaining a price target of $30. The move highlights expectations for robust private market growth and increased investor appetite for alternative asset exposure. While the average price target from analysts stands at $11.33, Piper’s view represents a more optimistic outlook relative to peers.

3. Astera Labs, Inc. (ALAB)

Analyst Firm: Morgan Stanley
Analyst: Joseph Moore
Rating Change: Equal-Weight → Overweight
Price Target: Reaffirmed at $111
Last Close: $79.01
Implied Upside: 25.30%

Morgan Stanley upgraded Astera Labs to Overweight, pointing to its leadership in AI connectivity infrastructure and robust demand across hyperscale data centers. The $111 price target reflects a strong endorsement of Astera’s competitive positioning. The average analyst target of $97.09 supports the broader bullish outlook on the stock.

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.