Pre-Market Gains: Today's Must-Watch Stocks!

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Hello Part-time Traderβ€¦πŸ‘‹

U.S. stocks are on the rise in the premarket today following record highs in the S&P 500 and Nasdaq Composite during the previous session.

Federal Reserve Chair Jerome Powell is set to deliver his semiannual report on the state of the economy on Capitol Hill today. Investors will be closely monitoring his testimony for any indications of the central bank's future interest rate policies. Powell will address the Senate Committee on Banking, Housing, and Urban Affairs at 10 a.m. Eastern, followed by the House Committee on Financial Services tomorrow.

Meanwhile, U.S. small businesses are experiencing a boost in confidence, reaching the highest levels since the end of last year, despite ongoing inflation concerns. The National Federation of Independent Business reported that its small-business optimism index increased to 91.5 in June from 90.5 in May.

In the cryptocurrency market, Bitcoin has rebounded from its recent lows of under $56,000. This recovery comes amid fears surrounding refunds from the collapsed cryptocurrency exchange Mt. Gox. Stay tuned for more updates and detailed analysis as we navigate the latest developments in the markets.

Happening Today

βœ“ 09:15 AM ET – Fed Vice Chair for Supervision Barr Speaks

βœ“ 10:00 AM ET – Fed Chair Powell Testifies

βœ“ 10:00 AM ET – Treasury Secretary Yellen Speaks

βœ“ 12:00 PM ET – EIA Short-Term Energy Outlook

βœ“ 01:00 PM ET – 3-Year Note Auction

βœ“ 01:30 PM ET – FOMC Member Bowman Speaks

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PREMARKET SNAPSHOT πŸ“ˆ

Market futures are up, with the S&P 500 rising 0.24%, the Dow up 0.09%, and the NASDAQ gaining 0.41%.

S&P500

$5638.75

 β¬†οΈ 0.24%

Dow

$39687.00

 β¬†οΈ 0.09%

NASDAQ 

$20744.50

 β¬†οΈ 0.41%

SECTOR SNAPSHOT βœ¨

Mixed market performance today with gains in Information Technology, Materials, and Industrials. However, Consumer Discretionary, Energy, and Communication Services saw declines, reflecting a cautious sentiment in these areas. Overall, the market showed a balance of minor gains and losses across sectors.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,548.04

-0.01% πŸ”΄

Consumer Staples

826.58

-0.21% πŸ”΄

Energy

685.32

-0.59% πŸ”΄

Financials

689.56

-0.15% πŸ”΄

Health Care

1,682.40

-0.10% πŸ”΄

Industrials

1,027.54

+0.13% 🟒

Materials

555.51

+0.28% 🟒

Real Estate

240.83

+0.17% 🟒

Information Technology

4,540.78

+0.72% 🟒

Communication Services

319.07

-1.01% πŸ”΄

Utilities

348.53

+0.07% 🟒

 

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PreMarket Unusual Volume Stocks

πŸ“ˆ Mainz Biomed N.V. (MYNZ): Mainz Biomed N.V. saw a significant increase in trading activity with a volume of 5,983,698, well above its average volume of 317.16. This notable rise in volume corresponds with a 17.92% price change, reflecting heightened market interest.

πŸ“ˆ 60 Degrees Pharmaceuticals Inc (SXTP): 60 Degrees Pharmaceuticals Inc experienced a substantial rise in volume, trading 5,978,440 shares compared to its average of 481.61. This dramatic increase in trading volume resulted in a 19.38% price change, indicating strong investor activity.

πŸ“ˆ Anew Medical Inc (WENA): Anew Medical Inc saw its trading volume surge to 7,463,294, significantly higher than its average of 1,889.70. The stock's price change of 66.90% mirrors this spike in trading volume.

πŸ“ˆ Interactive Strength Inc (TRNR): Interactive Strength Inc saw its volume rise to 2,457,780, far exceeding its average of 840.98. The stock's 30.47% price change reflects the surge in trading volume.

πŸ“ˆ Pineapple Energy Inc (PEGY): Pineapple Energy Inc saw its volume rise to 9,099,316, far exceeding its average of 5,284.17. The stock's 77.50% price change reflects the surge in trading volume.

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Premarket Picks

60 Degrees Pharmaceuticals (SXTP) surged 22.41% pre-market after receiving ethics approval for a new study.

Akoustis Technologies (AKTS) jumped 10.15% pre-market on the news of an $8 million order for their Wi-Fi access points.

uniQure (QURE) saw a significant pre-market rise of 25.92% following the release of positive interim data from their Huntington's disease clinical trials.

Finally, Pineapple Energy (PEGY) skyrocketed 78.33% pre-market after announcing a partnership with Conduit Capital for financial and staffing support.

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

Pre Market Gainers

Pre Market Change

Pre Market Volume

TPHS

+27.11%

13.42M

PEGY

+72.50%

6.61M

MYNZ

+14.32%

5.52M

WENA

+72.41%

4.26M

ZPTA

+10.89%

1.18M

INTC

+3.62%

755.56K

SXTP

+38.37%

684.41K

AIEV

+2.63%

214.47K

NKLA

+8.67%

190.65K

HLVX

+4.88%

157.15K

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Important FDA 

Recently Announced

Verona Pharma (VRNA) received good news as their drug Ensifentrine, marketed as Ohtuvayre, gained FDA approval on June 26th. This marks a significant milestone, as Ohtuvayre is the first inhaled maintenance treatment for COPD with a new mechanism of action to be approved in over twenty years.

Merck (MRK) faced a setback with their lung cancer treatment, Patritumab deruxtecan (HER3-DXd). The FDA issued a Complete Response Letter due to manufacturing issues identified by an external party. Merck must resolve these issues before resubmitting their application.

On June 26th, AbbVie (ABBV) and Genmab (GMAB) received positive news with the FDA approval of Epcoritamab-bysp. This new treatment brings hope to adults with relapsed or refractory follicular lymphoma who have undergone multiple prior therapies, thereby expanding available treatment options for this cancer type.

Rocket Pharmaceuticals (RCKT) received a Complete Response Letter from the FDA on June 28th for their treatment KRESLADI (RP-L201) for Leukocyte Adhesion Deficiency-I. The letter indicates that additional work is required before the drug can be approved.

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Upcoming Announcements

Investors in Phathom Pharmaceuticals Inc. (PHAT) are eagerly anticipating July 19th, 2024. On this date, the FDA will announce its decision on VOQUEZNA Tablets, a medication aimed at treating heartburn associated with a specific type of gastroesophageal reflux disease (GERD) known as non-erosive GERD.

A crucial date for AstraZeneca PLC (AZN) is approaching on July 25th, 2024. An external panel of experts will meet to review the use of their drug IMFINZI. This review will specifically examine the effectiveness of using IMFINZI in combination with chemotherapy before surgery (neoadjuvant treatment), followed by IMFINZI as a standalone treatment after surgery, for adult patients with resectable non-small cell lung cancer.

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.

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