Morning Surge: Guide to Today’s Winners!

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Hello Part-time Trader…👋

Premium Stock Alerts is here with your pre-market cheat sheet. In today's issue, we delve into:

  • Fed's Latest Announcements: Understand the Federal Reserve's recent decisions and economic outlook, and how they might influence the markets.

  • Volume Anomalies: Identify stocks witnessing unusual trading volumes, pointing to potential opportunities or risks.

  • Top Pre-Market Movers: Identify early winners poised for a strong market opening.

  • Market Indices & Sector Overview: Get a snapshot of key market indices and sector performances to gauge the day's potential trends.

  • FDA Approvals & Upcoming Decisions: Keep an eye on the latest FDA approvals and crucial upcoming decisions affecting biotech and pharmaceutical stocks.

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Now, let's dive into today's edition for a closer look at the insights and analysis that will shape your trading decisions.

Happening Today

✓ 08:30 AM ET – Initial Jobless Claims

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

✓ 08:30 AM ET – Current Account (Q1)

✓ 08:30 AM ET – Philly Fed Employment (Jun)

✓ 11:00 AM ET – Crude Oil Inventories

✓ 04:30 PM ET – Fed's Balance Sheet


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PREMARKET SNAPSHOT 📈

Market futures are looking positive, with the S&P 500 up 0.42%, the Dow rising 0.13%, and the NASDAQ gaining 0.67%.

S&P500

$5514.00

⬆️ 0.42%

Dow

$38009.00

⬆️ 0.13%

NASDAQ 

$20049.50

  ⬆️ 0.67%

SECTOR SNAPSHOT 

Positive market trend with gains led by Information Technology and Financials, while Consumer Discretionary and Communication Services show declines.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,463.71

-0.42% 🔴

Consumer Staples

826.87

+0.09% 🟢

Energy

672.18

+0.46% 🟢

Financials

684.08

+0.64% 🟢

Health Care

1,695.18

+0.12% 🟢

Industrials

1,039.05

+0.55% 🟢

Materials

561.74

-0.12% 🔴

Real Estate

239.48

+0.36% 🟢

Information Technology

4,468.40

+0.61% 🟢

Communication Services

302.81

-0.77% 🔴

Utilities

348.84

+0.02% 🟢


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PreMarket Unusual Volume Stocks

📈 Griid Infrastructure Inc. (GRDI): Exhibited a trading volume of 6.71 million shares, significantly higher than its average volume of 0.42 million shares. The stock closed at $1.23, marking an increase of 119.64%.

📈 SMX (Security Matters) Plc (SMX): Experienced a notable trading volume of 54.76 million shares compared to its average of 6.31 million shares. The stock price stood at $0.21, reflecting an increase of 74.12%.

📈 Tempest Therapeutics Inc (TPST): Recorded an unusual trading volume of 6.81 million shares, well above its average volume of 0.80 million shares. The stock price rose to $4.20, achieving a significant gain of 47.37%.

📈 Geovax Labs Inc (GOVX): Saw an exceptional trading volume of 1.82 million shares, compared to its average volume of 0.66 million shares. The stock price rose to $2.06, with an increase of 8.42%.

📈 Nexalin Technology Inc (NXL): Reported a trading volume of 1.88 million shares against its average of 0.90 million shares. The stock closed at $1.15, experiencing an increase of 10.58%.


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Premarket Picks

SMX (Security Matters) Public Limited Company (SMX) saw its shares surge by an impressive 93.27% to $0.23 after filing a 6-K/A form with the SEC.

Reliance Global Group, Inc. (RELI) experienced a notable increase in pre-market trading, with its stock price rising 38.04% to $0.53. This uptick followed an update on the company's pending acquisition of Spetner Associates.

BEST Inc. (BEST) also saw a pre-market boost, with its share price climbing 13.48% to $2.61. This increase came after the company announced an Agreement and Plan of Merger with BEST Global Partners and Phoenix Global Partners, under the laws of the Cayman Islands, and a wholly-owned subsidiary of Parent.

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

Pre Market Gainers

Pre Market Change

Pre Market Volume

SMX

+83.87%

52.78M

SLNA

+6.46%

31.90M

VHAI

+5.26%

10.85M

PRST

+25.07%

8.16M

CRKN

+4.37%

7.41M

TPST

+54.56%

4.95M

NVDA

+3.42%

4.52M

CYN

+11.34%

4.18M

NXL

+12.50%

1.58M

GOVX

+5.79%

1.54M


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Important FDA 

Recently Announced

In a win for Amgen Inc. (AMGN), the U.S. Food and Drug Administration (FDA) on June 14th, 2024, approved their drug BLINCYTO for a new use. BLINCYTO can now be used to treat patients with early-stage CD19-positive B-cell precursor acute lymphoblastic leukemia (B-ALL). This expands the treatment options available for this type of leukemia.

Merck & Co Inc. (MRK) also received positive news from the FDA on June 17th, 2024. Their drug KEYTRUDA, in combination with chemotherapy, was approved for the treatment of patients with primary advanced or recurrent endometrial carcinoma. This widens the potential use of KEYTRUDA and offers a new treatment approach for this form of cancer.

Finally, Ligand Pharmaceuticals Inc. (LGND) celebrated an FDA approval on June 18th, 2024. Their vaccine, CAPVAXIVE (previously known as V116), received the green light for use in adults to help prevent invasive pneumococcal disease and pneumococcal pneumonia. This approval adds CAPVAXIVE to the list of tools available to combat these serious bacterial infections.


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Upcoming Announcements

argenx (ARGX) is anxiously waiting for the FDA's decision on their supplemental Biologics License Application (sBLA) for VYVGART Hytrulo. Approval would expand the drug's use beyond its current indication and allow it to treat Chronic Inflammatory Demyelinating Polyneuropathy (CIDP).

Sarepta Therapeutics (SRPT) is also awaiting a crucial FDA decision. Their Biologics License Application (BLA) for ELEVIDYS seeks to convert the drug's current accelerated approval to full approval.

The spotlight is also on Halozyme Therapeutics, Inc. (HALO) as the PDUFA date for their sBLA for VYVGART in treating CIDP approaches. The PDUFA date, set for June 21, 2024, marks the deadline by which the FDA is expected to make a decision on the application.

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Happy investing,

Maeve Grace
Editor In Chief
Premium Trade 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.

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