Good Morning, Traders!…👋

Investors are taking a fresh look at the health of the global economy as monthly purchasing managers indexes (PMIs) are released. These flash PMIs revealed a larger-than-expected contraction in key European economies, driving investors toward safer assets like bonds. U.S. PMIs will be released later in the morning, providing more insight into the economic landscape.

Several Federal Reserve officials are also scheduled to speak today, and investors will be closely monitoring their remarks for clues about the Fed’s future actions following last week’s interest rate cut.

In premarket trading, index futures have held steady, with little movement in futures tied to the S&P 500, Nasdaq-100, and Dow industrials. Intel is one of the notable early movers, with its stock rising after reports of potential deal interest from Qualcomm and Apollo.

Treasury yields edged higher, with the 10-year yield closing Friday at 3.727%. Meanwhile, European government bonds rallied, pushing yields on German bunds lower after the disappointing PMI data. The euro weakened against the dollar, reflecting concerns over the European economy.

Happening Today

✓ 09:45 AM ET – S&P Global US Manufacturing PMI (Sep)

✓ 09:45 PM ET – S&P Global Services PMI (Sep)

PREMARKET SNAPSHOT📈

Market futures are up, with the S&P 500 rising 0.12%, the Dow up 0.06%, and the NASDAQ gaining 0.18%.

SECTOR SNAPSHOT✨

Today's market exhibited a mixed performance, with most sectors facing declines. Consumer Discretionary remained nearly flat, while Energy and Financials saw slight drops. Health Care and Industrials also recorded losses, reflecting a cautious investor sentiment. However, Consumer Staples and Communication Services managed to post modest gains, indicating some resilience. Utilities stood out with a significant increase, providing stability amidst the broader market challenges. Materials and Information Technology experienced declines, contributing to a day marked by overall weakness across many sectors.

PreMarket Unusual Volume Stocks

📈 Nukkleus Inc (NUKK): Nukkleus Inc saw its trading volume skyrocket to 19,352,741, far exceeding its average volume of 1,274,310. This surge in activity resulted in a price change of 55.11%, showing a significant increase in market attention.

📈 Linkage Global Inc (LGCB): Linkage Global Inc experienced a dramatic rise in trading volume, reaching 12,743,180 compared to its average of 91,500. The stock saw a price increase of 35.81%, reflecting heightened investor interest.

📈 Nuvve Holding Corp (NVVE): Nuvve Holding Corp’s trading volume climbed to 4,344,131, well above its average of 273,210. The stock responded with a price jump of 79.85%, signaling strong market momentum.

📈 Garden Stage Ltd (GSIW): Garden Stage Ltd registered a trading volume of 4,169,738, significantly higher than its average of 1,726,150. This uptick in volume was accompanied by a price increase of 24.63%.

📈 Treasure Global Inc (TGL): Treasure Global Inc saw its trading volume hit 3,518,500, outpacing its average of 1,471,990. The stock price increased by 41.85%, demonstrating increased market activity.

Premarket Picks

Black Diamond Therapeutics, Inc. (BDTX) is trading at $7.0500 in pre-market, up 48.11% after announcing positive Phase 2 data for BDTX-1535, showing a 42% response rate in patients with recurrent EGFR-mutant NSCLC and resistance mutations. The treatment demonstrated favorable tolerability and promising durability, with some responses lasting 8 months or more.

Signing Day Sports, Inc. (SGN) saw a notable increase of 25.11%, reaching a pre-market price of $0.32 after revealing its financial updates and plans to acquire Dear Cashmere Group (OTC: DRCR), also known as Swifty Global, to enhance growth and efficiency for both companies.

SolarBank Corporation (SUUN) rose an impressive 10.79% to a pre-market price of $3.80 after announcing plans to develop a 5.4 MW DC ground-mount solar project, called the Boyle project, in Broome County, New York.

Lastly, Treasure Global Inc. (TGL) reported a pre-market price of $0.94, marking a 38.17% increase. The company recently filed an 8-K form with the SEC.

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

Top Upgrades:

1. Keurig Dr Pepper Inc. (KDP)

Analyst Firm: Citi
Upgrade: Neutral to Buy
Price Target: $43
Friday’s Close: $37.46

Citi has upgraded Keurig Dr Pepper from Neutral to Buy, raising the price target to $43 from $36. Keurig Dr Pepper (Nasdaq: KDP) is a leading beverage company in North America, offering a diverse portfolio of over 125 owned, licensed, and partner brands.

With robust distribution capabilities, KDP strives to provide a beverage for every need, anytime, anywhere. Analyst price targets for KDP range from a low of $33.00 to a high of $41.00, with a median target of $37.00 and an average estimate of $37.33.

2. Marinus Pharmaceuticals, Inc. (MRNS)

Analyst Firm: Oppenheimer
Upgrade: Perform to Outperform
Price Target: $6
Friday’s Close: $1.66

Oppenheimer has upgraded Marinus Pharmaceuticals from Perform to Outperform, assigning a price target of $6. Marinus Pharmaceuticals is a commercial-stage pharmaceutical company focused on developing innovative therapeutics for seizure disorders.

Its primary product, ZTALMY® (ganaxolone) oral suspension CV, is an FDA-approved medication that became available in the U.S. in 2022. Analyst price targets for MRNS range from a low of $2.00 to a high of $13.00, with a median of $6.00 and an average target of $6.89.

3. On Holding AG (ONON)

Analyst Firm: BofA
Upgrade: Underperform to Neutral
Price Target: $55
Friday’s Close: $49.95

BofA has upgraded On Holding AG from Underperform to Neutral, raising the price target to $55 from $21.

Founded in the Swiss Alps in 2010, On Holding AG aims to ignite the human spirit through movement by offering innovative premium footwear, apparel, and accessories for high-performance running, outdoor activities, training, and tennis.

Analyst price targets for ONON range from a low of $27.98 to a high of $49.95, with a median target of $41.54 and an average of $41.65.

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.