Good Morning, Traders!…👋

U.S. stock futures fell Friday morning, retreating from an earlier recovery attempt, after China retaliated against President Trump’s trade offensive by increasing its U.S. tariff rates, further heightening fears of an escalating trade war.

On Friday, China announced it would raise tariffs on U.S. imports to 125%, up from the 84% previously planned, starting Saturday. This move is a direct response to Trump’s expanding "reciprocal" tariffs on China. While the Chinese government emphasized its retaliation, it also stated it would "ignore" any additional U.S. tariff hikes.

Later in the day, investors will receive the March reading of the Producer Price Index, offering another clue into the pre-tariff inflation picture. However, with market attention fixed on U.S. trade policy, this data may take a back seat, as was the case with this week's Consumer Price Index report.

Meanwhile, investors have been moving away from the U.S. dollar, seeking safety in assets like the Swiss franc and the yen, while gold continues its record-breaking rally, surpassing $3,200 per ounce.

Earnings Watch

Earnings hit today from JPMorgan Chase $JPM ( ▼ 0.45% ), Wells Fargo $WFC ( ▲ 0.24% ), and BlackRock $BLK ( ▼ 0.94% )  before open, with no major reports after close.

Analysts expect JPMorgan to post $4.62 EPS on banking strength, Wells Fargo to hit $1.23 EPS with steady lending, and BlackRock to shine at $10.40 EPS.

Happening Today

✓ 08:30 AM ET – PPI (MoM) (Mar)

✓ 10:00 AM ET – Michigan Consumer Sentiment (Apr)

✓ 11:00 AM ET – FOMC Member Williams Speaks

✓ 03:30 PM ET – CFTC Nasdaq 100 and S&P500 speculative net positions

PREMARKET SNAPSHOT 📈

​U.S. stock futures are mixed amid ongoing trade tensions and investor caution.​

SECTOR SNAPSHOT✨

arkets fell sharply yesterday, with nearly all sectors in the red. Information technology and consumer discretionary stocks were hit the hardest, each sliding over 4%. Energy tumbled more than 6%, while financials, healthcare, and industrials also posted steep losses. Defensive sectors like consumer staples saw modest gains, but it wasn't enough to offset the widespread selloff that weighed on market sentiment.

PreMarket Unusual Volume Stocks

📈 Shuttle Pharmaceuticals Holdings, Inc. $SHPH ( ▲ 4.52% )  is gaining early traction with a 13% pre-market move and volume of 1.17M, sharply above its 62K average. The surge in volume suggests renewed interest, potentially ahead of a catalyst or announcement.

📈 Sharps Technology Inc. $STSS ( ▼ 5.61% )  is seeing explosive activity, rising nearly 60% with a staggering 142.29M shares traded pre-market—massively higher than its 8.3M average. The stock is drawing significant speculative attention this morning.

📈 BioNexus Gene Lab Corp $BGLC ( ▲ 0.35% )  has advanced over 45%, trading 4.43M shares in early action, far above its 396K average. The unusual volume indicates strong buying pressure and a possible momentum-driven rally.

📈 MSP Recovery, Inc. $MSPR ( ▼ 1.0% )  is soaring over 142% with volume at 14.14M, compared to its 1.79M average. This breakout is attracting aggressive pre-market traders, likely reacting to a major news event or shift in sentiment.

📈 AGM Group Holdings Inc. $AGMH ( ▲ 24.62% )  is showing a modest 5% gain with 308.46K in volume, just slightly above its 15.5K average. While not as dramatic as others, the early uptick signals mild investor interest building ahead of the open.

Premarket Picks

MSP Recovery, Inc. (MSPR) saw a massive pre-market jump of 128.90%, trading at $2.93. The surge follows news that the company has entered into a strategic term sheet outlining several restructuring transactions with Hazel Partners Holdings, LLC, Virage Capital Management, and their affiliates.

Babcock & Wilcox Enterprises, Inc. (BW) gained 6.45% in pre-market trading, with shares priced at $0.33. The movement came after the company received a Continued Listing Standard Notice from the NYSE.

BioNexus Gene Lab Corp. (BGLC) is up 43.25% in pre-market activity, now trading at $3.08. The rally comes after the company filed an 8-K form with the SEC, catching investors' attention.

Venus Concept Inc. (VERO) rose 12.80%, reaching a pre-market price of $4.58. The gain follows the company’s announcement of closing a $1.1 million registered direct offering.

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

Top Upgrades:

1. Nektar Therapeutics $NKTR ( ▲ 4.98% ) 

Analyst Firm: Jefferies
Upgraded: Hold to Buy
Price Target: $2
Yesterday's Close: $0.50

Jefferies has raised its rating on Nektar from Hold to Buy and increased its price target from $1 to $2. Nektar Therapeutics, a company focused on developing immune therapies for autoimmune diseases, has received a wide range of analyst estimates. Price targets range from a low of $1.00 to a high of $7.00, with a median target of $4.00. The average price target sits at $4.36.

2. Everest Group, Ltd. $EG ( ▼ 0.57% ) 

Analyst Firm: Jefferies
Upgraded: Hold to Buy
Price Target: $376
Yesterday's Close: $341.40

Everest Group also received an upgrade from Jefferies, moving from Hold to Buy, with the price target lifted from $376 to $415. Everest Group, a global provider of reinsurance and insurance solutions, has analysts projecting price targets between $330.00 and $476.00. The median estimate is $385.50, while the average target stands at $389.25.

3. Cinemark Holdings, Inc. $CNK ( ▲ 1.86% ) 

Analyst Firm: JPMorgan
Upgraded: Neutral to Overweight
Price Target: $34
Yesterday's Close: $27.18

JPMorgan analyst David Karnovsky upgraded Cinemark from Neutral to Overweight, raising the price target to $34 from the previous $30. Cinemark Holdings, which operates in the motion picture exhibition industry, has stock price targets ranging from $22.00 to $36.00. The median estimate is $35.00, with an average price target of $32.09.

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.