Good Morning, Traders!…👋

U.S. stock futures climbed early Friday, with tech stocks primed for gains after Netflix’s stellar third-quarter earnings surprised analysts.

On Thursday, the Dow surged 337 points, hitting its 38th record close of the year, as strong retail sales data reinforced confidence in the resilience of consumer spending. The report signaled that the engine of the U.S. economy remains robust despite broader economic concerns.

Meanwhile, oil prices steadied as China, the world’s top crude importer, vowed to roll out fresh economic stimulus measures. Market attention also focused on geopolitical tensions after Israel’s strike on Hamas leader Yahya Sinwar. Brent crude edged up 0.2% to $74.62 a barrel, while West Texas Intermediate gained 0.3% to settle at $70.85.

In the bond market, yields pushed higher in response to the stronger-than-expected retail sales data, leading traders to adjust their expectations on future Federal Reserve rate cuts. With the possibility of a soft landing still on the table, the 10-year U.S. Treasury yield rose to 4.118%, and the 2-year note yield climbed to 3.986%.

Happening Today

✓ 08:30 AM ET – Building Permits & Housing Starts (Sep)

✓ 09:30 AM ET – FOMC Member Bostic Speaks

✓ 10:00 AM ET – FOMC Member Kashkari Speaks

✓ 12:10 PM ET – Fed Waller Speaks

✓ 02:00 PM ET – Federal Budget Balance (Sep)

✓ 03:30 PM ET – CFTC Nasdaq 100 & S&P 500 speculative net positions

PREMARKET SNAPSHOT 📈

Market futures are mixed, with the S&P 500 and NASDAQ showing gains, while the Dow remains nearly flat with a slight decline.

SECTOR SNAPSHOT✨

Yesterday's market showed a mixed performance across sectors. Consumer Discretionary remained unchanged, while Consumer Staples and Health Care faced notable declines, indicating some weakness in those areas. Industrials also recorded a slight drop. In contrast, Energy and Information Technology managed to post gains, reflecting resilience in those sectors. Financials saw a modest increase, and Materials had a slight uptick. However, Real Estate, Communication Services, and Utilities all experienced losses, rounding out a day characterized by cautious sentiment in the market.

PreMarket Unusual Volume Stocks

📈 D-MARKET Electronic Services & Trading ADR (HEPS) is showing substantial pre-market activity, trading over 9.1 million shares compared to its average volume of 535K. The stock has surged 68.64%, bringing its pre-market price to $3.71. This notable rise in both volume and price signals strong investor interest.

📈 Pineapple Energy Inc (PEGY) has seen significant pre-market movement, with over 4.2 million shares traded, surpassing its average volume of 263K. The stock has soared 76.04%, pushing its pre-market price to $9.70. This strong upward momentum could lead to further gains as the market opens.

📈 Jiade Ltd. (JDZG) is experiencing heightened pre-market activity, trading over 15.3 million shares, far exceeding its average volume of 1.1 million. The stock has risen 38.24%, bringing its pre-market price to $2.35. This considerable increase indicates growing investor interest.

📈 Catheter Precision Inc. (VTAK) has traded over 3.8 million shares pre-market, compared to its average volume of 409K. The stock has gained 73.59%, bringing its pre-market price to $0.76. This strong pre-market performance suggests further potential for growth during the trading session.

📈 Mangoceuticals Inc (MGRX) has seen pre-market activity of over 1.9 million shares, compared to its average volume of 269K. The stock is up 10.57%, with a pre-market price of $2.93. This moderate gain could signal positive momentum as trading begins.

Premarket Picks

Shares of Pineapple Energy Inc. (PEGY) are up 74.95% in pre-market trading at $9.70. This surge comes after the company announced the termination of its lease for its former Minnesota headquarters. This move is expected to generate significant cost savings, totaling approximately $480,000.

D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) stock is up a staggering 66.36% pre-market, reaching $3.66. The reason behind this jump is news that Kaspi.kz (KSPI) has signed a definitive agreement to acquire 65.41% of HEPS's outstanding shares.

Tenon Medical, Inc. (TNON) is experiencing a pre-market surge of 41.40%, pushing its price to $4.85. This rise follows the announcement that Tenon Medical has been issued three new U.S. patents (Nos. 12,115,075, 12,115,076, and 12,115,077).

Tevogen Bio Holdings Inc. (TVGN) is up 10.87% pre-market, reaching $1.53. The company's positive outlook on its oncology pipeline is driving this gain. Tevogen has forecasted $1 billion in revenue for the launch year of this pipeline, with a cumulative 5-year estimate between $10 billion and $$14 billion.

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

Top Upgrades:

1. Community Trust Bancorp, Inc. (CTBI)

Analyst Firm: Raymond James
Upgrade: Market Perform to Outperform
Price Target: $60
Yesterday's Close: $51.48

Raymond James analyst Daniel Tamayo has upgraded Community Trust Bancorp's rating from "Market Perform" to "Outperform," with a price target of $60. Analyst stock price targets for Community Trust range as follows: a high of $60.00, a median of $58.00, and a low of $56.00, with an average target of $58.00.

Community Trust Bancorp, through its subsidiary Community Trust Bank, Inc., provides commercial and personal banking, trust, and wealth management services to small and mid-sized communities across Kentucky, West Virginia, and Tennessee.

2. Ecolab Inc. (ECL)

Analyst Firm: Jefferies
Upgrade: Hold to Buy
Price Target: $310
Yesterday's Close: $257.10

Jefferies has upgraded Ecolab from "Hold" to "Buy," raising the price target from $235 to $310. Analysts have projected the stock price targets for Ecolab with a high of $310.00, a median of $275.00, a low of $221.00, and an average target of $270.89.

Ecolab is a global leader in sustainability, offering innovative solutions in water management, hygiene, and infection prevention to help protect people and vital resources.

3. Victory Capital Holdings, Inc. (VCTR)

Analyst Firm: Morgan Stanley
Upgrade: Underweight to Equal Weight
Price Target: $60
Yesterday's Close: $60.55

Morgan Stanley's analyst Michael Cyprys has upgraded Victory Capital from "Underweight" to "Equal Weight," revising the price target from $40 to $60. Analyst price targets for Victory Capital are as follows: a high of $69.00, a median of $60.00, and a low of $49.00, with an average target of $59.00.

Victory Capital is a global asset management firm with total assets under management (AUM) of $176.1 billion and client assets totaling $181.1 billion, employing a next-generation business strategy that blends boutique investment characteristics with the benefits of a centralized platform.

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.