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- ⚡ Power Moves Before the Bell—Jump In!
⚡ Power Moves Before the Bell—Jump In!
Noor Saba
November 07, 2024
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Good Morning, Traders!…👋
U.S. stock futures climbed in premarket trading today as markets reacted to the historic gains that followed Donald Trump’s presidential election victory. Now, investors are turning their attention to a key question: Will the Federal Reserve dampen the rally?
The Fed’s monetary-policy meeting concludes on Thursday, and while a rate cut is widely expected, traders will be closely watching to see if the central bank signals any caution in its rate-cutting plans following Trump’s win. With the Republican party likely to secure control of both the Senate and the House of Representatives, Trump appears positioned to push forward with his key policies on tariffs and tax cuts.
The Fed is anticipated to announce a quarter-percent rate cut on Thursday. However, market participants are keen to see if officials hint at a reluctance to ease rates further, given the potential inflationary impact of Trump’s proposed policies.
Traders have already adjusted their expectations, with the probability of an additional quarter-point rate cut in December dropping to 67% on Wednesday, down from 77% a day earlier, according to CME Group’s FedWatch tool. Meanwhile, the 10-year Treasury yield stood at 4.426% early Thursday, slightly down from the previous day but still notably higher than pre-election levels.
Happening Today
✓ 08:30 AM ET - Initial Jobless Claims
✓ 08:30 AM ET - Unit Labor Costs (QoQ) (Q3)
✓ 10:00 AM ET - Retail Inventories Ex Auto (Sep)
✓ 01:00 PM ET – FOMC Statement
✓ 03:00 PM ET – Fed Interest Rate Decision
✓ 01:00 PM ET – Consumer Credit (Sep)
History shows every Fed rate cut leads to a gold boom. And under-$20 play offers exposure to over an ounce of gold - worth $2,500 - at a fraction of the price.
As the Fed slashes rates, now is the perfect time to buy.
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PREMARKET SNAPSHOT 📈
Market futures continue to trend upward, with the S&P 500 and Dow both up 0.23% and the NASDAQ gaining 0.29%.
S&P500$5971.75 ⬆️ 0.23% | Dow$44002.00 ⬆️ 0.23% | NASDAQ$20955.00 ⬆️ .29% |
SECTOR SNAPSHOT✨
Yesterday's market demonstrated a strong upward trend, with several sectors posting impressive gains. Consumer Discretionary led the way with a significant increase, reflecting heightened consumer confidence. Energy also had a robust performance, along with Financials, which saw a remarkable rise, indicating strong investor interest. Industrials followed suit with notable growth, while Information Technology and Communication Services also recorded solid increases. Health Care managed a slight uptick, though Consumer Staples and Real Estate faced significant declines, showing some weaknesses in those areas. Utilities rounded out the day with a minor drop. Overall, it was a day characterized by broad-based strength, particularly in sectors driven by strong economic sentiment.
Name | Price | Change Percentage |
Consumer Discretionary | 1,697.06 | +3.62% 🟢 |
Consumer Staples | 855.82 | -1.57% 🔴 |
Energy | 717.29 | +3.54% 🟢 |
Financials | 824.22 | +6.16% 🟢 |
Health Care | 1,725.37 | +0.15% 🟢 |
Industrials | 1,195.40 | +3.93% 🟢 |
Materials | 596.00 | +1.20% 🟢 |
Real Estate | 267.43 | -2.64% 🔴 |
Information Technology | 4,557.23 | +2.52% 🟢 |
Communication Services | 327.86 | +2.38% 🟢 |
Utilities | 393.82 | -0.98% 🔴 |
Now that AI is adding additional stress to an aging grid network... there is a "backdoor" way to profit from the potentially catastrophic A.I. Apocalypse barreling its way toward us right now. The power elite smell MAJOR opportunity.
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PreMarket Unusual Volume Stocks
📈 MDJM Ltd (MDJH) witnessed a substantial surge in trading activity today, with an impressive 79 million shares traded, far exceeding its average volume of 353K. The stock price rose 104.19%, closing at $0.31. This significant increase indicates strong market interest and positive investor sentiment.
📈 Cyngn Inc (CYN) experienced a notable increase in its stock price, climbing 36.60% to $5.30. The trading volume reached over 3.2 million shares, surpassing its average volume of 104K. This surge points to growing optimism and attention from investors toward Cyngn Inc.
📈 Interactive Strength Inc (TRNR) showed a moderate gain of 12.43%, with its stock price closing at $0.10. The company saw heavy trading volume of nearly 67 million shares, well above its average volume of 7.4 million. This indicates heightened activity and potential speculative interest in the stock.
📈 Webuy Global Ltd (WBUY) saw its stock price rise by 49.82% to $0.17, supported by a significant volume of 47 million shares compared to its average of 6.1 million. This sharp increase suggests renewed interest and strong trading momentum.
📈 Boxlight Corporation (BOXL) recorded a modest gain of 2.11%, closing at $0.56. The trading volume was 247K, which is above its average of 35K. This steady performance reflects mild positive sentiment from the market.
Imagine investing in the next big disruptor, akin to Uber or Airbnb. This groundbreaking platform empowers everyday users as micro-influencers, capturing a significant slice of the booming digital ad market. Early investors in similar ventures saw remarkable returns by getting in early. Will you be next to seize this transformative opportunity?
Check out this Newly listed company on the NASDAQ. Get the symbol here.
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Premarket Picks
Interactive Strength Inc. (TRNR) saw a significant pre-market surge of 27.18%, bringing its price to $0.1247 after the company announced a 1-for-100 reverse stock split.
AppLovin Corporation (APP) experienced a pre-market jump of 28.92%, with shares rising to $217.29 following the release of its third-quarter 2024 financial results.
Emergent BioSolutions Inc. (EBS) gained 22.83% in pre-market trading, with its stock price reaching $11.30. This increase came after the company announced that its drug, brincidofovir (TEMBEXA), would be included in a clinical trial led by the Africa Centres for Disease Control and Prevention as part of the MpOx Study in Africa. The company also reported its third-quarter 2024 financial results.
Lyft, Inc. (LYFT) surged 23.82% in pre-market trading, pushing its price to $17.83 after the company posted strong financial results for the third quarter of 2024 and raised its full-year outlook.
Below is a complete list of hot stocks in pre-market today:
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
TRNR | +42.79% | 55.89M |
MDJH | +88.96% | 52.75M |
WBUY | +56.79% | 35.52M |
BJDX | +15.67% | 13.63M |
LGMK | +39.39% | 11.80M |
ATCH | +52.86% | 9.89M |
ENSC | +23.01% | 4.40M |
FREY | +5.71% | 1.71M |
CTM | +9.33% | 1.22M |
DUO | +15.93% | 711.22K |
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Top Upgrades:
1. McKesson Corporation (MCK)
Analyst Firm: Baird
Upgrade: Neutral to Outperform
Price Target: $688
Yesterday's Close: $549.31
Baird has upgraded McKesson Corporation from Neutral to Outperform, raising its price target to $688 from $531.
McKesson is a prominent leader in healthcare services, known for its commitment to improving health outcomes globally.
Analyst stock price targets for McKesson range from a low of $531.00 to a high of $680.00, with a median of $622.00 and an average of $610.80, showcasing the company's significant standing in the healthcare sector.
2. Sinclair, Inc. (SBGI)
Analyst Firm: Wells Fargo
Upgrade: Underweight to Equal Weight
Price Target: $19
Yesterday's Close: $17.41
Wells Fargo upgraded Sinclair, Inc. from Underweight to Equal Weight, increasing the price target from $13 to $19.
Sinclair is recognized as a major media company providing local news and sports.
The stock price targets set by analysts for Sinclair range from a low of $11.50 to a high of $30.00, with a median target of $16.50 and an average of $17.86, reflecting its prominent role in the media industry.
It's time to pay close attention when a Wall Street Journal headline screams "Uranium is running hot, miners can't keep up." Or, when a Nuclear Newswire headline touts, "Bull market continues for uranium stocks." One North American company and its potential for tons of high-grade uranium could be today's most tempting play.
You'll find it's whole upside story HERE with details about its superb exploration trend.
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3. Sarepta Therapeutics, Inc. (SRPT)
Analyst Firm: Cantor Fitzgerald
Upgrade: Neutral to Overweight
Price Target: $167
Yesterday's Close: $127.97
Cantor Fitzgerald has lifted Sarepta Therapeutics' rating from Neutral to Overweight, revising the price target upward to $167 from $152.
Sarepta is a biopharmaceutical company at the commercial stage, focusing on RNA-targeted therapeutics, gene therapies, and treatments for rare diseases.
Analysts have set a range of stock price targets for Sarepta, with a high of $219.00, a median of $200.00, a low of $150.00, and an average target of $191.15, underscoring the company’s strong positioning in genetic medicine.
Happy investing,
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.
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