Good Morning, Traders!…👋

U.S. stock futures rose as Election Day arrived, with the showdown between Vice President Kamala Harris and former President Donald Trump taking center stage for traders amid another wave of earnings and an upcoming Federal Reserve interest-rate decision. While results may not emerge until Tuesday evening or Wednesday, investors are already considering how the election outcome could impact their portfolios.

Earnings highlights for Tuesday include Super Micro Computer, Devon Energy, Yum! Brands, and Ferrari. Meanwhile, the Fed is set to announce its next rate decision on Thursday.

In the bond market, the yield on the 10-year Treasury note stood at 4.31% early Tuesday, slightly down from the previous day, while the two-year note yield was at 4.179%.

Among other key updates, Palantir’s third-quarter revenue surged 30%, driven by AI demand; Trump Media shares extended gains as the U.S. headed to the polls; and Boeing’s union voted to end its strike, marking an end to recent disruptions.

Happening Today

✓ 09:45 AM ET – U.S. Presidential Election

✓ 10:00 AM ET - ISM Non-Manufacturing PMI/Prices (Oct)

✓ 01:00 PM ET – 10-Year Note Auction

PREMARKET SNAPSHOT 📈

Market futures are up, with the S&P 500 rising 0.23%, the Dow gaining 0.12%, and the NASDAQ leading with a 0.38% increase.

SECTOR SNAPSHOT✨

Yesterday's market displayed a mixed performance, with several sectors showing gains while others faced declines. Consumer Discretionary led the losses, indicating some weakness in consumer sentiment. Conversely, Consumer Staples and Energy posted solid increases, reflecting positive movement in those areas. Financials and Health Care experienced notable declines, while Industrials remained relatively stable. Materials and Real Estate recorded gains, showcasing some strength. Information Technology and Communication Services also faced losses, and Utilities saw a significant drop. Overall, the day was characterized by a combination of positive and negative trends across various sectors.

PreMarket Unusual Volume Stocks

📈 Bionomics Ltd. ADR (BNOX), an Australian biotechnology company in the healthcare sector, saw an impressive surge today, climbing 106.39% to reach a price of $0.39. With a trading volume of over 55 million shares, significantly above average, this movement reflects strong investor interest in the company and highlights the appeal of the biotechnology sector in Australia.

📈 Avalon GloboCare Corp (ALBT), a U.S.-based real estate services company, experienced a significant boost in its stock price, rising 89.29% to $4.24. This surge occurred on a trading volume of 8.3 million shares, indicating growing investor confidence in the real estate sector and particularly in Avalon’s potential for growth in the American market.

📈 ZyVersa Therapeutics Inc (ZVSA), operating in the biotechnology sector within the U.S., gained 71.43% today, bringing its stock price to $3.12. With nearly 1.8 million shares traded, the company captured substantial interest from investors, underscoring the demand for healthcare and biotech stocks focused on innovative therapies.

📈 Simpple Ltd (SPPL), a Singaporean technology company specializing in software applications, rose 49.15% to reach $1.76. This increase came alongside a high trading volume of 18.9 million shares, emphasizing the robust interest in the technology sector and Simpple’s role within the rapidly expanding software industry in Asia.

📈 Elevai Labs Inc (ELAB), another player in the U.S. biotechnology sector, gained 22.39%, pushing its stock price to $0.02 on a volume of 84.5 million shares. The high trading volume suggests strong speculative interest in this low-cap healthcare stock, as investors seek opportunities within the biotech space.

Premarket Picks

Bionomics Limited (BNOX) has seen a significant surge in pre-market trading, with its price reaching $0.38, marking an impressive increase of 100.72%. This surge follows the announcement that Bionomics received a milestone payment of AUS$1 million from Carina Biotech for its BNC101 Partnered Legacy Oncology Program.

QuinStreet, Inc. (QNST) is also making waves, with a pre-market price of $26.40, reflecting a gain of 30.69%. This boost comes after the company reported record results for the first quarter of fiscal 2025, showcasing a quarterly revenue of $279 million, which is a 125% increase year-over-year.

Elevai Labs Inc. (ELAB) has a pre-market price of $0.02, with a surge of 22.88%. The increase is attributed to the company announcing an update and extension of its pending offer to exchange.

Lastly, Palantir Technologies Inc. (PLTR) is experiencing a pre-market price of $47.30, up 14.22%. This rise follows the announcement of their financial results for the third quarter ended September 30, 2024, highlighting a revenue growth of 30% year-over-year, a 44% increase in U.S. revenue, and a GAAP EPS of $0.06.

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

Top Upgrades:

1. MasTec, Inc. (MTZ)

Analyst Firm: Truist
Upgrade: Hold to Buy
Price Target: $173
Yesterday's Close: $132.61

Truist analyst Jamie Cook has upgraded MasTec’s rating from Hold to Buy, setting a price target of $173, an increase from $133. Analysts’ stock price targets for MasTec range from a low of $130.00 to a high of $175.00, with a median of $153.00 and an average target of $151.43.

MasTec is a prominent infrastructure construction company primarily operating in North America, serving various industries.

2. Chevron Corporation (CVX)

Analyst Firm: DZ Bank
Upgrade: Hold to Buy
Price Target: $170
Yesterday's Close: $153.97

DZ Bank analyst Werner Eisenmann has raised Chevron’s rating from Hold to Buy, with a price target of $170. Analysts’ targets for Chevron vary, with a high of $194.00, a median of $170.50, and a low of $145.00, resulting in an average target of $169.41.

Chevron is one of the world’s leading integrated energy companies, committed to delivering affordable, reliable, and cleaner energy for global progress.

3. eBay Inc. (EBAY)

Analyst Firm: Bernstein
Upgrade: Market Perform to Outperform
Price Target: $70
Yesterday's Close: $60.23

Bernstein analyst Nikhil Devnani has upgraded eBay’s rating from Market Perform to Outperform, maintaining a price target of $70. The stock price target for eBay ranges from a low of $53.00 to a high of $72.00, with a median of $62.50 and an average target of $62.42.

eBay is a global commerce leader, connecting people and fostering economic opportunity within communities worldwide.

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.