Good Morning, Traders!…👋

All eyes are on the Fed today, but the Dow isn’t waiting—it’s sliding, with AI powerhouse Nvidia adding to the drag.

The big question: Will the Federal Reserve’s final policy decision of 2024 turn things around or deepen the market’s funk? A third straight rate cut is widely expected, but it’s Fed Chair Jerome Powell’s comments afterward that will set the tone for 2025. Investors will be hanging on every word for clues about where interest rates—and the market—are headed next.

Oil prices are on the move, rising as traders weigh the impact of a potential Fed cut and stricter U.S. sanctions on Russia. Brent crude edged up 0.5% to $73.54 a barrel, while WTI rose 0.6% to $70.50.

Bond yields are holding steady for now, with the 10-year Treasury at 4.396% and the 2-year note yielding 4.251%.

Happening Today

✓ 08:30 AM ET – Current Account (Q3)

✓ 08:30 AM ET – Building Permits (Nov)

✓ 08:30 AM ET – Housing Starts (MoM) (Nov)

✓ 10:30 AM ET – Atlanta Fed GDPNow (Q4)

✓ 10:30 AM ET – Crude Oil Inventories

✓ 02:00 PM ET – FOMC Economic Projections

✓ 02:00 PM ET – Fed Interest Rate Decision

✓ 02:30 PM ET – FOMC Press Conference

PREMARKET SNAPSHOT 📈

Market futures are up, with the S&P 500, Dow, and NASDAQ all showing gains.

SECTOR SNAPSHOT✨

The market saw modest gains in Consumer Discretionary (+0.28%), while all other sectors faced declines. Energy (-0.76%), Financials (-0.69%), and Industrials (-0.90%) were among the biggest laggards. Consumer Staples (-0.12%) and Health Care (-0.05%) dropped slightly, while Materials (-0.48%), Real Estate (-0.53%), and Utilities (-0.38%) also struggled. Information Technology (-0.40%) and Communication Services (-0.60%) posted losses.

PreMarket Unusual Volume Stocks

📈 Polyrizon Ltd (PLRZ) surged 240.00%, closing at $3.57. Trading volume skyrocketed to 10.69M shares, far above its 556.59K average, signaling strong momentum.

📈 Vast Renewables Ltd (VSTE) soared 140.77%, finishing at $3.13. The stock traded 32.88M shares compared to its 3.44M average volume, reflecting significant investor activity.

📈 Snow Lake Resources Ltd (LITM) climbed 53.39%, ending at $0.28. Volume hit 8.12M, well above its 1.01M average, showing bullish interest.

📈 Glimpse Group Inc (VRAR) gained 17.61%, closing at $1.87. Volume reached 6.18M, surpassing the 1.05M average, indicating strong interest in the stock.

📈 Rezolve AI Ltd (RZLV) rose 20.67%, finishing at $3.97. Trading volume stood at 7.21M shares, above its 3.56M average, showcasing renewed investor focus.

Premarket Picks

Tonix Pharmaceuticals Holding Corp. (TNXP) saw a pre-market surge of 15.72%, with its stock price rising to $0.3864. This surge followed the announcement that the FDA has accepted its New Drug Application (NDA) for TNX-102 SL, a treatment for fibromyalgia.

Polyrizon Ltd. (PLRZ) experienced a significant pre-market surge of 220.00%, with its stock price reaching $3.3600. The surge was driven by the news that the company entered into a manufacturing agreement with Eurofins CDMO Amatsiaquitaine S.A.S., a leading European-based GMP manufacturer.

The Glimpse Group, Inc. (VRAR) saw its stock rise by 15.72% in pre-market trading, reaching a price of $1.84. This increase came after the company issued its 2024 year-end shareholder letter, highlighting strong market traction in the spatial core and expected profitability in the coming year.

Nukkleus Inc. (NUKK) achieved a pre-market surge of 42.26%, with its stock price climbing to $16.90. The surge followed the announcement of the company’s acquisition of a controlling stake in Star 26, a defense-focused acquisition company, marking an important strategic milestone.

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

Top Upgrades:

1. Principal Financial Group, Inc. (PFG)

Analyst Firm: Piper Sandler
Upgrade: Neutral to Overweight
Price Target: $90
Yesterday's Close: $77.54

Piper Sandler raised its rating on Principal Financial to Overweight from Neutral, maintaining a price target of $90.

Principal Financial Group, Inc. (PFG), a global provider of retirement, asset management, and insurance services, has analysts' stock price targets with a high of $99.00, a median of $90.00, and a low of $75.00. The average stock price target is $88.62.

2. Ollie's Bargain Outlet Holdings, Inc. (OLLI)

Analyst Firm: Citi
Upgrade: Sell to Buy
Price Target: $133
Yesterday's Close: $114.94

Citi analyst Steven Zaccone moved Ollie's Bargain Outlet from a Sell to a Buy rating, increasing the price target to $133 from $64 after taking over coverage.

Ollie's Bargain Outlet Holdings, Inc. (OLLI), a U.S. retailer of brand-name merchandise, has a stock price target range with a high of $135.00, a median of $125.00, and a low of $64.00. The average stock price target is $119.87.

3. Transocean Ltd. (RIG)

Analyst Firm: Barclays
Upgrade: Equal Weight to Overweight
Price Target: $4.50
Yesterday's Close: $3.67

Barclays upgraded Transocean to Overweight from Equal Weight, keeping its price target at $4.50.

Transocean Ltd. (RIG), a global provider of offshore contract drilling services for oil and gas wells, has stock price targets with a high of $6.50, a median of $5.00, and a low of $3.30. The average stock price target is $5.15.

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.