Good Morning, Traders!…👋

Federal Reserve Chair Jerome Powell has taken center stage following Donald Trump’s presidential victory, and his remarks seem set to sustain the market’s risk-on rally.

In the premarket session, U.S. stock futures remained relatively flat. Both the S&P 500 and Nasdaq ended at record highs after the Federal Open Market Committee implemented a widely anticipated quarter-point rate cut. Powell chose not to comment on President-elect Trump’s proposed policies, only stating that he would not step down if asked.

As of early Friday, the 10-year Treasury yield was at 4.328%, a slight dip from the previous day, indicating a pullback in trades tied to Trump’s election win earlier this week.

Gold prices continue to weaken, with futures dropping 0.3% to $2,696.50 per troy ounce. Despite a brief recovery during Thursday’s session, the precious metal is poised to close the week down 1.9% following Trump’s election victory.

Happening Today

✓ 10:00 AM ET - Michigan 1&5-Year Inflation Expectations (Nov)

✓ 12:00 PM ET – WASDE Report

✓ 02:30 PM ET – CFTC Nasdaq 100/S&P 500 speculative net positions

PREMARKET SNAPSHOT 📈

Market futures are down slightly, with the S&P 500 falling 0.10%, the Dow down 0.03%, and the NASDAQ declining 0.25%.

SECTOR SNAPSHOT✨

Yesterday's market displayed a positive trend, with several sectors recording gains. Consumer Discretionary led the way with a notable increase, indicating strong consumer sentiment. Consumer Staples and Health Care also saw solid upticks, contributing to the overall positive sentiment. Information Technology and Communication Services continued their upward momentum, showcasing strong performance. While Energy and Financials faced declines, reflecting some weakness in those areas, Industrials also recorded a slight drop. Materials and Real Estate managed to post modest gains, rounding out a day characterized by overall strength despite some sector-specific challenges.

PreMarket Unusual Volume Stocks

📈 DevvStream Corp (DEVS) saw a significant boost in trading activity today, with over 11 million shares changing hands, far surpassing its average volume of 37K. The stock price rose 38.68%, closing at $1.47. This substantial increase reflects strong market interest and potential positive developments within the company.

📈 Tivic Health Systems Inc (TIVC) experienced an impressive 103.45% surge in its stock price, closing at $0.53. This gain was accompanied by a substantial trading volume of 45.5 million shares, compared to its average of 540K, signaling heightened investor enthusiasm and strong momentum in the healthcare sector.

📈 Vision Marine Technologies Inc (VMAR) posted a notable gain of 34.11%, reaching a closing price of $4.01. The trading volume was over 5.3 million shares, significantly exceeding its average of 203K. This strong performance suggests increasing investor confidence and attention to the company's recent activities.

📈 Northann Corp (NCL) saw its stock price rise by 30.70%, ending the day at $0.29. This increase came with a trading volume of over 4.5 million shares, surpassing the average of 487K, reflecting positive sentiment and strong trading interest in the company.

📈 Nature's Miracle Holding Inc (NMHI) witnessed a solid 27.01% increase in its stock price, closing at $0.19. The trading volume surged to 44.9 million shares, well above its average volume of 9.5 million. This significant activity points to robust investor interest and potential positive trends for the company.

Premarket Picks

Nature's Miracle Holding Inc. (NMHI) surged 28.35% in pre-market trading, with its stock price reaching $0.19. The boost came after the company announced that its 100% owned subsidiary, Hydroman, Inc., will be rebranded as Hydroman Electric Corporation. As part of the transition, Hydroman Electric plans to focus on the marketing and distribution of electric-powered agricultural and commercial vehicles across the United States and South America.

Li-Cycle Holdings Corp.(LICY) experienced a 38.5% increase in pre-market trading, with shares reaching $5.00. This surge followed the release of the company’s third-quarter 2024 financial results, which showed strong revenue growth and reduced costs. Additionally, Li-Cycle closed an upsized $475 million loan facility with the U.S. Department of Energy to support the development of its Rochester Hub Project.

Innodata Inc. (INOD) saw a significant pre-market gain of 36.85%, bringing its stock price to $33.31. The rise follows the company’s report of record third-quarter 2024 results, including an impressive 136% year-over-year revenue growth. Investors reacted positively to the company’s strong financial performance.

Doximity, Inc. (DOCS) jumped 40% in pre-market trading, with shares climbing to $60.79. The increase was driven by the company’s announcement of its fiscal 2025 second-quarter results, which included total revenues of $136.8 million, up 20% year-over-year. Doximity also reported a 44% increase in net income and a 41% rise in adjusted EBITDA, signaling strong business growth.

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

Top Upgrades:

1. Lowe's Companies, Inc. (LOW)

Analyst Firm: Telsey Advisory
Upgrade: Market Perform to Outperform
Price Target: $305
Yesterday's Close: $266.30

Telsey Advisory has raised its rating for Lowe's from Market Perform to Outperform, increasing the price target from $275 to $305. The stock price target range for Lowe's is from a low of $203.00 to a high of $323.00, with a median target of $277.50 and an average of $274.50. As a FORTUNE 50 company, Lowe's serves approximately 16 million customer transactions weekly across the U.S., specializing in home improvement.

2. Bank of America Corporation (BAC)

Analyst Firm: Citi
Upgrade: Neutral to Buy
Price Target: $54
Yesterday's Close: $44.77

Citi has upgraded Bank of America to Buy from Neutral, raising the price target to $54 from $46. Analysts' stock price targets for Bank of America range from a low of $42.00 to a high of $56.00, with a median target of $46.50 and an average of $47.30. Bank of America is a global financial leader providing a wide array of banking, investing, asset management, and risk management solutions to consumers and corporations.

3. The Home Depot, Inc. (HD)

Analyst Firm: Telsey Advisory
Upgrade: Market Perform to Outperform
Price Target: $455
Yesterday's Close: $399.44

Telsey Advisory has also upgraded Home Depot from Market Perform to Outperform, increasing the price target to $455 from $360. Home Depot’s stock price target estimates show a range from a low of $318.00 to a high of $466.00, with a median target of $425.00 and an average of $413.94. The Home Depot is the world's largest home improvement retailer, operating 2,340 stores across the U.S., Canada, and Mexico to cater to both retail and professional customers.

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.