Good Morning, Traders!…👋

U.S. stock futures are slipping early Tuesday as caution grows ahead of the year’s final inflation report. Currently, traders are pricing in a 90% probability of a quarter-point cut at next week’s Fed meeting, though the outlook for January remains unclear, with only a 21% chance of back-to-back cuts, according to CME’s FedWatch tool.

Geopolitical tensions are also adding complexity. Recent turmoil includes martial law in South Korea, Romania’s canceled election, and the collapse of Syria’s Assad regime.

Deutsche Bank strategist Jim Reid emphasized that these uncertainties, alongside China’s dual announcements of an antitrust probe into Nvidia and plans for fresh economic stimulus, have created a challenging environment for investors.

Notably, U.S.-listed Chinese stocks surged on Monday, with the Nasdaq Golden Dragon China Index jumping 8.5% as optimism over China’s stimulus measures temporarily overshadowed the risks.

Happening Today

✓ 08:30 AM ET – Nonfarm Productivity (QoQ) (Q3)

✓ 08:30 AM ET – Unit Labor Costs (QoQ) (Q3)

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

✓ 01:00 PM ET – 3-Year Note Auction

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

PREMARKET SNAPSHOT 📈

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

SECTOR SNAPSHOT✨

Yesterday, the market saw mixed performance across sectors. Consumer Discretionary, Financials, and Industrials led the decline, with Consumer Discretionary down 0.33%, Financials dropping 1.41%, and Industrials falling 0.94%. Health Care and Real Estate were the only sectors to close in the green, with Health Care up 0.22% and Real Estate gaining 0.09%. Materials and Energy also faced losses, down 0.15% and 0.20%, respectively. Information Technology and Communication Services saw moderate declines of 0.45% and 1.31%. Utilities were also down by 1.30%, reflecting a broader downturn in the market.

PreMarket Unusual Volume Stocks

📈 Processa Pharmaceuticals Inc (PCSA) witnessed a significant 40.00% increase, closing at $1.75. The trading volume surged to 9.75 million shares compared to its average of 68.47K, signaling heightened investor interest.

📈 Cumberland Pharmaceuticals Inc (CPIX) soared by an impressive 108.06%, finishing the session at $2.58. The company recorded a trading volume of 24.25 million shares, far surpassing its average of 180.72K, suggesting a substantial spike in trading activity.

📈 Glimpse Group Inc (VRAR) experienced a 26.19% rise, closing at $1.06. With a trading volume of 3.03 million shares compared to its average of 163.18K, the stock demonstrated increased attention from market participants.

📈 Chimerix Inc (CMRX) recorded an extraordinary gain of 125.43%, closing at $1.95. The trading volume reached 6.11 million shares, significantly above its average of 503.18K, reflecting strong momentum in the stock.

📈 Roth CH Acquisition V Co (NEHC) saw a modest gain of 3.41%, ending the day at $8.79. The trading volume was 226K shares, exceeding its average of 21.22K, indicating moderate market interest.

Premarket Picks

Chimerix, Inc. (CMRX) saw a pre-market surge of 119.65%, with its stock price rising to $1.90. This surge comes after the company announced plans to submit a New Drug Application (NDA) for accelerated approval of dordaviprone as a treatment for recurrent H3 K27M-mutant diffuse glioma. The company expects to make this submission to the FDA before the end of the year.

Cumberland Pharmaceuticals Inc. (CPIX) experienced an 88.70% increase in its pre-market price, reaching $2.34. This jump follows the FDA’s approval of a supplemental New Drug Application for its Acetadote product, a significant development for the company.

Cardiff Oncology, Inc. (CRDF) saw a pre-market rise of 29.92%, with its stock price climbing to $3.17. This increase came after the company announced positive initial data from the CRDF-004 trial, which evaluates onvansertib in combination with standard-of-care treatments for patients with first-line RAS-mutated metastatic colorectal cancer.

Nanobiotix S.A. (NBTX) saw its pre-market price reach $3.55, reflecting an 18.33% surge. The company’s stock rose following the announcement that it had completed its Phase 1 study of NBTXR3 in pancreatic cancer, an important milestone for its cancer treatment research.

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

Top Upgrades:

1. Vimeo, Inc. (VMEO)

Analyst Firm: Piper Sandler
Upgrade: Neutral to Overweight
Price Target: $10
Yesterday's Close: $7.00

Piper Sandler analyst Thomas Champion upgraded Vimeo to Overweight from Neutral, increasing the price target to $10 from $7.

Vimeo, the world's most innovative video experience platform, enables users to create high-quality videos to enhance connections and bring ideas to life. Analysts predict a stock price target for Vimeo with a low of $7.00, a high of $9.00, and a median of $7.00. The average price target is $7.50.

2. Victoria's Secret & Co. (VSCO)

Analyst Firm: UBS
Upgrade: Sell to Neutral
Price Target: $47
Yesterday's Close: $47.20

UBS upgraded Victoria's Secret to Neutral from Sell, raising its price target to $47 from $18.

Victoria's Secret & Co. is a specialty retailer known for its fashion-forward collections, including bras, lingerie, sleepwear, athleisure, and prestige fragrances. Analysts estimate the stock price target for Victoria's Secret ranges from a low of $18.00 to a high of $55.00, with a median target of $45.00. The average price target is $43.55.

3. Biomea Fusion (BMEA)

Analyst Firm: HC Wainwright & Co.
Rating: Reiterates Buy
Price Target: $40
Last Close: $5.50
Upside Potential: 627.27%

HC Wainwright & Co. has reiterated its Buy rating on Biomea Fusion, maintaining a price target of $40. Biomea Fusion, a clinical-stage biopharmaceutical company, focuses on developing novel covalent small molecule drugs to treat genetically defined cancers and metabolic diseases.

According to 10 Wall Street analysts covering Biomea Fusion over the past three months, the stock's price target ranges from a low of $11.00 to a high of $128.00, with an average target of $41.80. This represents a potential upside of 621.93% from its last traded price of $5.79.

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.