Good Morning, Traders!…👋

Stock futures showed little movement on Tuesday, following a decline in technology sectors that impacted the S&P 500 and Nasdaq Composite, even as the Dow Jones Industrial Average closed at a record high.

All eyes are on Nvidia, a major player in the AI and tech industry, with its second-quarter earnings set to release on Wednesday. After a dip of over 2% on Monday, Nvidia's shares saw a slight recovery in after-hours trading. These results are highly anticipated as they will provide insights into the broader health of the AI sector.

Market participants are also keenly awaiting the central bank's upcoming policy meeting on September 17-18, with unanimous expectations of a rate cut. Additionally, earnings from Nordstrom, due post-market today, will offer a closer look at consumer health amid varying economic signals.

In commodity markets, oil prices edged lower after Monday's substantial gains, with Brent crude falling slightly to just over $80 a barrel and West Texas Intermediate crude dropping to around $77 a barrel.

In the bond market, yields have seen a modest increase in the last 24 hours, with 10-year U.S. Treasury notes at 3.828% and 2-year notes at 3.950%.

Happening Today

✓ 09:00 AM ET – S&P/CS HPI Composite - 20 n.s.a. (MoM) (Jun)

✓ 09:00 AM ET – S&P/CS HPI Composite - 20 n.s.a. (YoY) (Jun)

✓ 10:00 AM ET – CB Consumer Confidence (Aug)

✓ 01:00 PM ET – 2-Year Note Auction

✓ 04:30 PM ET – API Weekly Crude Oil Stock

PREMARKET SNAPSHOT📈

Market futures are down, with the S&P 500, Dow, and NASDAQ all showing slight declines.

SECTOR SNAPSHOT✨

The market experienced a mixed day, with gains led by Consumer Staples and Energy, signaling strong interest in these sectors. Financials and Materials also posted positive results, contributing to a generally cautious optimism. However, Information Technology and Consumer Discretionary saw notable declines, along with slight dips in Health Care and Industrials. Real Estate remained flat, while Utilities added some stability with modest gains. Overall, the market was marked by sector-specific movements, with more sectors ending the day in the red than in the green.

PreMarket Unusual Volume Stocks

📈 Addex Therapeutics Ltd ADR (ADXN): Addex Therapeutics Ltd ADR experienced a significant increase in trading activity with a volume of 769,911, far exceeding its average volume of 4,260. This surge in activity led to a 31.07% price change, reflecting heightened market interest.

📈 Trinity Biotech Plc ADR (TRIB): Trinity Biotech Plc ADR saw an extraordinary surge in volume, trading 8,861,964 shares compared to its average of 120,750. This dramatic increase resulted in a 73.84% price change, indicating strong investor activity.

📈 Envirotech Vehicles Inc (EVTV): Envirotech Vehicles Inc's trading volume rose to 1,629,324, significantly higher than its average of 28,930. The stock's price change of 5.48% mirrors this spike in trading volume.

📈 Society Pass Inc (SOPA): Society Pass Inc saw its volume rise to 4,165,192, far surpassing its average of 167,830. This increase in trading activity resulted in a 24.04% price change.

📈 TuanChe Ltd ADR (TC): TuanChe Ltd ADR's volume spiked to 526,367, a substantial increase from its average of 27,370. Despite the increased trading activity, the stock experienced a -6.98% price change.

Premarket Picks

Trinity Biotech plc (TRIB) experienced a significant premarket surge of 71.50%, with its stock trading at $3.43. This boost comes after the company announced a rise in orders for its TrinScreen HIV and upgraded its sales guidance for 2024.

Smart for Life, Inc. (SMFL) saw a premarket increase of 50.00%, bringing its price to $1.62. The company’s stock surged following updates on potential expansions in its acquisition pipeline and recent M&A activities.

Addex Therapeutics Ltd (ADXN) enjoyed a premarket gain of 42.99%, with its price reaching $10.71. The increase is attributed to the announcement of selected clinical candidates from its research collaboration with Indivior PLC on GABAB positive allosteric modulators.

Earlyworks Co., Ltd (ELWS) experienced a premarket rise of 19.25%, with its stock priced at $3.16. The gain followed the company’s filing of its 20-F form with the SEC.

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

Top Upgrades:

1. Energizer Holdings, Inc. (ENR)

Analyst Firm: Truist
Upgrade: Hold to Buy
Price Target: $40 (Previous: $30)
Yesterday’s Close: $30.34

Truist has upgraded Energizer Holdings, Inc. from Hold to Buy, raising the price target to $40 from the previous $30. This upgrade suggests a more positive outlook on the company's potential. Analysts have set price targets for Energizer ranging from a low of $29.00 to a high of $40.00, with a median of $32.00 and an average target of $32.78.

Energizer, a global leader in the production and distribution of household and specialty batteries, as well as lighting products, shows moderate growth potential according to these targets.

2. Thomson Reuters Corporation (TRI)

Analyst Firm: Scotiabank
Upgrade: Sector Perform to Outperform
Price Target: $182 (Previous: $164)
Yesterday’s Close: $167.18

Scotiabank analyst Maher Yaghi has upgraded Thomson Reuters Corporation from Sector Perform to Outperform, raising the price target to $182 from the previous $164.

This upgrade reflects strong confidence in the company's ability to sustain its leadership in providing trusted content and technology solutions across various professional sectors, including legal, tax, accounting, compliance, government, and media.

Analyst price targets for Thomson Reuters range from a low of $150.00 to a high of $190.00, with a median of $166.93 and an average of $167.17, indicating robust confidence in the company’s continued success.

3. Xpeng Inc - ADR (XPEV)

Analyst Firm: Bocom
Upgrade: Sell to Buy
Price Target: $10.05
Yesterday’s Close: $7.51

Bocom has upgraded Xpeng Inc. from Sell to Buy, setting a new price target of $10.05. This significant upgrade highlights a more favorable view of Xpeng's prospects in the Smart EV market. Xpeng, a leading Chinese Smart EV company, has seen a wide range of analyst price targets, from a low of $16.54 to a high of $121.01, resulting in an average target of $62.28.

This broad range reflects the varying opinions on Xpeng's future, with analysts recognizing both the significant potential in the rapidly growing Smart EV market and the challenges posed by intense competition and industry volatility.

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.