Good Morning, Traders!…👋

S&P 500 futures dipped slightly early Wednesday, down 0.1%, as investors looked ahead to a wave of retail earnings and the release of the Federal Reserve’s July meeting minutes. Nasdaq 100 futures slid 0.2%, while Dow Jones futures dropped by 75 points, or 0.2%.

Earnings from Target, Lowe's, and TJX are on deck, following a boost in Home Depot shares that briefly pushed the Dow to an intraday record on Tuesday. However, broader markets slipped as declines in tech weighed on both the S&P 500 and Nasdaq.

Investors are also eyeing the Fed’s meeting minutes set to be released at 2 p.m. ET. While the central bank held rates steady in July, notable dissent from two voting members marked a rare occurrence. Markets now largely expect a rate cut in September, with further clarity anticipated from Fed Chair Jerome Powell’s remarks on Friday.

Earnings Watch

Earnings hit today from Target $TGT, Lowe’s $LOW, Baidu $BIDU, TJX Companies $TJX, Analog Devices $ADI, and Estee Lauder $EL before open, plus Nordson $NDSN and Coty $COTY after close.

Analysts expect TGT at $2.29 EPS with retail focus, LOW at $2.80 EPS on housing trends, BIDU at $2.70 EPS with AI growth, TJX at $0.92 EPS on off-price retail strength, ADI at $1.57 EPS with chip demand, EL at $0.20 EPS amid beauty market challenges, NDSN at $2.44 EPS with industrial adhesive growth, and COTY at $0.05 EPS on cosmetic sales.

Happening Today

✓ 10:30 AM ET – Oil Inventories

✓ 11:00 AM ET – Fed Waller Speaks

✓ 01:00 PM ET – 20-Year Bond Auction

✓ 02:00 PM ET – FOMC Meeting Minutes

✓ 03:00 PM ET – FOMC Member Bostic Speaks

✓ 08:00 PM ET – Jackson Hole Symposium

SECTOR SNAPSHOT

On the last trading day, most sectors ended positively, with Real Estate and Utilities leading the gains. Conversely, Information Technology and Communication Services saw declines, suggesting a rotation out of tech and into more defensive or cyclical areas of the market.

PreMarket Unusual Volume Stocks

Here's a quick rundown of today's pre-market high-volume stocks:

📈 Fluent, Inc. (FLNT) is up +12.28% at $2.28 with monumental volume, following a positive Q2 2025 earnings report that highlighted a strategic shift into the high-growth "commerce media" sector and a new $10 million equity financing.

📈 Global Engine Group Holding Limited (GLE) is up +14.85% at $0.7099 with very high volume, showing a potential rebound after a period of significant decline and volatility, with recent news of an approved equity incentive plan and a share trade resumption.

📈 ScanTech AI Systems Inc. (STAI) is gaining +35.31% to $0.4690 with substantial volume, continuing its recent volatility after the company announced it is strengthening its service capabilities and is working to regain Nasdaq compliance.

📈 OceanPal Inc. (OP) sees a +9.84% rise to $0.0884 with very high volume, continuing to attract investor attention after a recent series of highly dilutive public offerings and its efforts to regain Nasdaq compliance.

📈 GeoVax Labs, Inc. (GOVX) is up +7.07% at $0.7070 with increased volume, as the company maintains a "Strong Buy" consensus from analysts and has a high short interest, which may be contributing to its volatility.

Premarket Picks

Propanc Biopharma, Inc. (PPCB) stock surged 42.23% in pre-market trading, reaching $5.22. The jump comes after the company announced the closing of its public offering and its uplisting to NASDAQ.

NovaBay Pharmaceuticals, Inc. (NBY) saw a significant pre-market increase of 68.34%, with its price rising to $1.02. This boost followed the announcement of a $6 million securities purchase agreement with private investor David E. Lazar for the purchase of the company’s non-voting convertible preferred stock.

Fluent, Inc. (FLNT) shares rose 10.53% pre-market, reaching $2.52. The gain came after the company reported its unaudited financial results for the second quarter ending June 30, 2025.

ScanTech AI Systems Inc. (STAI) experienced a 37.12% surge in pre-market trading, with the price at $0.64. This followed the company’s announcement of a service collaboration with Curie Technologies to integrate the Curie™ software platform into its SENTINEL™ CT system, aiming to enhance service delivery and customer success.

Top Upgrades:

1. Nu Holdings Ltd. (NU)

Analyst Firm: Citi

Upgraded: Sell to Buy

Price Target: $18

Yesterday's Close: $13.12

Citi has raised its rating on Nu Holdings, moving it from Sell to Buy, and increased its price target from $9 to $18. Analysts have set a stock price target for Nu Holdings ranging from a low of $9.00 to a high of $20.00, with an average target of $15.49. Nu Holdings provides digital banking services across Brazil, Mexico, Colombia, the Cayman Islands, and the U.S.

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

Analyst Firm: JPMorgan

Upgraded: Neutral to Overweight

Price Target: $129

Yesterday's Close: $112.02

JPMorgan has upgraded J.M. Smucker from Neutral to Overweight, lifting its price target from $102 to $129. For J. M. Smucker, the stock price target spans from $94.00 on the low end to $130.00 on the high end, with an average estimate of $115.79. The company is known for producing and marketing a wide range of branded food and beverage products globally.

3. Hormel Foods Corporation (HRL)

Analyst Firm: JPMorgan

Upgraded: Neutral to Overweight

Price Target: $34

Yesterday's Close: $28.41

JPMorgan analyst Thomas Palmer has upgraded Hormel Foods from Neutral to Overweight, raising the price target from $29 to $34. Hormel Foods has an analyst price target ranging from $30.00 to $41.00, with an average of $34.38. The company sells meat, nuts, and various other food products both in the U.S. and internationally.

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.