Good Morning, Traders!…👋

U.S. stock futures slipped Friday after President Trump ramped up trade tensions, announcing a potential 35% tariff on Canadian imports. In a Truth Social post, Trump shared a letter addressed to Canadian Prime Minister Mark Carney, signaling that the tariffs would begin in August. In a separate interview, he also hinted at broader tariffs—ranging from 15% to 20%—on most U.S. trading partners, exceeding the current 10% rate.

Despite these developments, investor sentiment had remained buoyant amid expectations of progress in trade talks with key partners, including the EU, India, and Canada. Trump said letters to both the EU and Canada are imminent.

While brushing aside inflation worries, Trump pointed to Thursday’s stock market highs as validation of his policies. Markets had rallied for weeks, fueled by optimism after Trump postponed sweeping tariff measures originally announced during April’s "Liberation Day" event.

Earnings Watch

Earnings hit today from Hingham Institution for Savings $HIFS, Unity Bancorp $UNTY, GoldMining $GLDG, FingerMotion $FNGR, TRX Gold $TRX, and Lexaria Bioscience $LEXX after close.

Analysts expect HIFS to show steady banking performance, UNTY at $0.97 EPS with regional banking resilience, GLDG reflecting gold market trends, FNGR at $0.01 EPS with mobile tech growth, TRX with mining sector volatility, and LEXX facing biotech challenges.

Happening Today

✓ 12:00 PM ET – WASDE Report

✓ 01:00 PM ET – U.S. Baker Hughes Rig Count

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

✓ 03:30 PM ET – CFTC Speculative Net Positions

SECTOR SNAPSHOT✨

On the last trading day, most sectors ended positively, showcasing broad market strength. Information Technology and Communication Services, however, saw slight declines, potentially due to factors such as profit-taking after recent rallies, or specific company news and ongoing shifts in market sentiment towards these historically high-growth sectors.

PreMarket Unusual Volume Stocks

📈 Above Food Ingredients Inc. (ABVE) is soaring +98.71% to $1.55 on massive volume, driven by its merger agreement with Palm Global and strong investor confidence in its future as a sustainable food product leader.

📈 K Wave Media, Ltd. (KWM) is up +18.26% at $4.60 with high volume, following its announcement of securing $1 billion in capital capacity to drive its Bitcoin treasury strategy, including a new $500M convertible note.

📈 ATIF Holdings Limited (ZBAI) is gaining +24.17% to $0.3910 with substantial volume, likely due to its recently announced strategic diversification into the Bitcoin sector, with plans to acquire 1,000 BTC.

📈 Bit Origin Limited (BTOG) is up +57.38% at $0.2900 with very high volume, continuing its upward trend after regaining Nasdaq compliance and as Bitcoin rallies past $118,000, boosting crypto-related stocks.

📈 Sphere 3D Corp. (ANY) sees a +9.13% rise to $0.6461 with increased volume; as a Bitcoin mining company, its movement is likely tied to the broader cryptocurrency market's current rally.

Premarket Picks

Bit Origin Ltd (BTOG) is making headlines with a pre-market price surge of 78.86%, trading at $0.52. The rally comes as Bitcoin surges past the $118,000 mark, boosting sentiment around crypto-related stocks.

Bitmine Immersion Technologies, Inc. (BMNR) is up 13.67% in pre-market trading, reaching $52.34. The gain follows the company’s announcement of a $250 million private placement, aimed at accelerating its Ethereum-focused treasury strategy.

ZenaTech, Inc. (ZENA) has jumped 13.06% to $4.76 in the pre-market session. The spike is attributed to the company’s breakthrough in quantum computing, revealing its first prototype to enhance AI drone capabilities through faster data analysis and processing.

GameSquare Holdings, Inc. (GAME) is trading 11.83% higher at $2.08 pre-market. The company recently finalized a $5 million Ethereum purchase, part of its broader $100 million digital asset treasury strategy, signaling a strong move into the crypto space.

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

Top Upgrades:

1. TE Connectivity plc (TEL)

Analyst Firm: Citi

Upgraded: Neutral to Buy

Price Target: $200

Yesterday's Close: $175.03

Citi analyst Asiya Merchant raised the rating on TE Connectivity from Neutral to Buy and increased the price target from $150 to $200. Analysts have set a high price target of $214.00 for TE Connectivity, with a median estimate of $170.50 and a low of $148.00. The average target stands at $175.31. TE Connectivity and its subsidiaries provide connectivity and sensor solutions across global markets.

2. Texas Instruments Incorporated (TXN)

Analyst Firm: TD Cowen

Upgraded: Hold to Buy

Price Target: $245

Yesterday's Close: $219.66

TD Cowen boosted its rating on Texas Instruments from Hold to Buy, raising the price target to $245 from $200. Texas Instruments has received a wide range of analyst price targets, with a high of $260.00, a median of $190.00, and a low of $125.00. The average price target is $191.99. The company is known for designing and manufacturing semiconductors for electronics firms around the world.

3. Visteon Corporation (VC)

Analyst Firm: Baird

Upgraded: Neutral to Outperform

Price Target: $125

Yesterday's Close: $108.29

Baird upgraded Visteon from Neutral to Outperform and lifted its price target from $96 to $125. Analysts expect Visteon Corporation’s stock to reach as high as $125.00, with a median estimate of $100.50 and a low projection of $82.00. The average target price is $101.71. Visteon specializes in automotive electronics and connected car technologies for global vehicle manufacturers.

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.