Good Morning, Traders!…👋

U.S. stock index futures saw modest gains on Monday, with investor attention focused on upcoming earnings from Nvidia and a crucial inflation report set for release later this week. Confidence remains strong that the Federal Reserve will implement an interest rate cut in September.

Market odds have shifted slightly, with a 25-basis-point rate cut now seen as a 63.5% probability, down from over 70% last week. Meanwhile, expectations for a more aggressive 50-basis-point cut have increased to 36.5%, up from around 30%, as per the CME Group's Fed Watch tool.

Investors are also gearing up for Friday’s release of July’s Personal Consumption Expenditure data, which serves as the central bank's preferred inflation indicator. As the earnings season nears its end, all eyes will be on chip designer Nvidia, which is set to report its results on Wednesday and saw its stock trade nearly 1% higher in premarket trading.

Other notable earnings expected this week include Dell, Salesforce, Dollar General, and Gap. Additionally, comments from San Francisco Fed President Mary Daly, who is a voting member of the Federal Open Market Committee this year, are anticipated later today.

Amid ongoing geopolitical tensions in the Middle East, crude oil prices have also risen by over 1%.

Happening Today

✓ 08:30 AM ET – Core Durable Goods Orders (MoM) (Jul)

✓ 08:30 AM ET – Durable Goods Orders (MoM) (Jul)

✓ 10:30 AM ET – Atlanta Fed GDPNow (Q3)

PREMARKET SNAPSHOT📈

Market futures are slightly up, with the S&P 500, Dow, and NASDAQ all showing modest gains.

SECTOR SNAPSHOT✨

The market saw a strong rebound, with all sectors posting gains. Real Estate and Consumer Discretionary led the charge, reflecting renewed investor confidence. Energy and Information Technology also posted significant increases, contributing to the overall positive sentiment. Financials and Industrials added solid gains, while Health Care and Materials continued the upward momentum. Even traditionally stable sectors like Consumer Staples and Utilities saw modest gains, rounding out a day of broad-based market strength.

PreMarket Unusual Volume Stocks

📈 MEDIROM Healthcare Technologies Inc ADR (MRM): MEDIROM Healthcare Technologies Inc ADR experienced a significant increase in trading activity with a volume of 6,884,121, far exceeding its average volume of 6,330. This surge in activity led to a 168.15% price change, reflecting heightened market interest.

📈 Prestige Wealth Inc (PWM): Prestige Wealth Inc saw an extraordinary surge in volume, trading 10,024,583 shares compared to its average of 97,900. This dramatic increase resulted in a 132.10% price change, indicating strong investor activity.

📈 Farmmi Inc (FAMI): Farmmi Inc's trading volume rose to 9,415,586, significantly higher than its average of 274,450. The stock's price change of 8.06% mirrors this spike in trading volume.

📈 Top KingWin Ltd (TCJH): Top KingWin Ltd saw its volume rise to 12,935,291, far surpassing its average of 654,390. This increase in trading activity resulted in a 21.21% price change.

📈 Focus Universal Inc (FCUV): Focus Universal Inc's volume spiked to 1,582,393, a substantial increase from its average of 91,920. Despite the increased trading activity, the stock experienced a -3.14% price change.

Premarket Picks

MEDIROM Healthcare Technologies Inc. (MRM) is skyrocketing in premarket trading, jumping 178.63% to $6.91 following the announcement that its subsidiary, MEDIROM MOTHER Labs Inc., has entered into a capital and business alliance with NFES Technologies Inc., a subsidiary of NFES Inc.

Prestige Wealth Inc. (PWM) is up 118.73% to $1.63 after unveiling the acquisition of Wealth AI, a provider of AI-driven wealth management solutions.

Tonix Pharmaceuticals Holding Corp. (TNXP) has risen 12.64% to $0.38 after announcing a collaboration with Bilthoven Biologicals to advance TNX-801, Tonix’s mpox vaccine candidate.

Farmmi, Inc. (FAMI) is seeing a more modest increase of 8.31% to $0.26 after announcing the pricing of a $1.0 million registered direct offering.

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

Top Upgrades:

1. Mid-America Apartment Communities, Inc. (MAA)

Analyst Firm: Wells Fargo
Upgrade: Equal Weight to Overweight
Price Target: $174 (Previous: $138)
Friday’s Close: $156.63

Wells Fargo has upgraded Mid-America Apartment Communities, Inc. (MAA) from Equal Weight to Overweight, raising the price target to $174 from the previous $138. This upgrade reflects a positive outlook on MAA’s market performance.

MAA, an S&P 500 REIT, focuses on high-quality apartment communities across the Southeast, Southwest, and Mid-Atlantic regions. Analyst price targets for the stock range from a low of $124.00 to a high of $189.00, with a median of $152.00 and an average target of $152.68.

2. American Homes 4 Rent (AMH)

Analyst Firm: Wells Fargo
Upgrade: Equal Weight to Overweight
Price Target: $42 (Previous: $36)
Friday’s Close: $38.57

Wells Fargo has upgraded American Homes 4 Rent (AMH) from Equal Weight to Overweight, increasing the price target to $42 from the previous $36. This change suggests increased confidence in the company’s business model and growth potential.

American Homes 4 Rent, a leading REIT specializing in single-family rental homes across the U.S., has analyst price targets ranging from a low of $36.00 to a high of $44.00, with a median of $41.00 and an average target of $40.71.

3. Camden Property Trust (CPT)

Analyst Firm: Wells Fargo
Upgrade: Underweight to Equal Weight
Price Target: $127 (Previous: $104)
Friday’s Close: $122.60

Wells Fargo analyst James Feldman has upgraded Camden Property Trust (CPT) from Underweight to Equal Weight, raising the price target to $127 from the previous $104. This upgrade indicates a more favorable view of Camden Property’s market prospects.

Camden Property Trust, an S&P 500 company, focuses on multifamily apartment communities. Analyst price targets for the stock range from a low of $90.00 to a high of $147.00, with a median of $120.00 and an average target of $119.16.

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.