Good Morning, Traders!…👋

U.S. futures slipped slightly after the S&P 500 marked its 42nd record close this year. The rise was supported by data showing that weekly jobless claims fell more than expected, while a final estimate of U.S. GDP confirmed a 3% growth rate in the second quarter, affirming the strength of the U.S. economy.

These numbers have reinforced optimism that both the economy and the labor market are on stable ground, as the Federal Reserve signals its intention to proceed with a policy easing cycle following last week’s significant interest rate cut.

Daily updates from China, combined with rising expectations for further interest rate cuts from both the Federal Reserve and the European Central Bank, have fueled a risk-on sentiment in global markets.

Investors are now turning their attention to the Fed’s preferred inflation gauge and consumer demand data, which could provide more insight into the future path of interest rates after Thursday’s strong revised figures.

Happening Today

✓ 08:30 AM ET – Core PCE Price Index (MoM)(YoY) (Aug)

✓ 08:30 AM ET – Durable Goods Orders (MoM) (Aug)

✓ 08:30 AM ET – Goods Trade Balance (Aug)

✓ 08:30 AM ET – Personal Spending (MoM) (Aug)

✓ 08:30 AM ET – Retail Inventories Ex Auto (Aug)

✓ 10:00 AM ET – Michigan 1-Year/5-Year Inflation Expectations (Sep)

✓ 10:30 AM ET – Atlanta Fed GDPNow (Q3)

PREMARKET SNAPSHOT📈

Market futures are slightly down, with the S&P 500, Dow, and NASDAQ all showing modest declines.

SECTOR SNAPSHOT✨

Yesterday's market showed a mixed performance across sectors. Consumer Discretionary and Financials posted slight gains, while Health Care and Industrials also saw modest increases. Materials performed particularly well, reflecting strong growth. However, Energy experienced a significant decline, and Real Estate faced a notable drop. Information Technology continued its positive trend, along with Communication Services. Utilities ended the day down, contributing to an overall mixed sentiment in the market.

PreMarket Unusual Volume Stocks

📈 Cardio Diagnostics Holdings Inc (CDIO): Cardio Diagnostics Holdings Inc saw a notable increase in trading activity with a volume of 9,634,687, compared to its average of 336,730. The stock price rose by 17.00%, reflecting increased market interest.

📈 Real Good Food Company Inc (RGF): Real Good Food Company Inc experienced a volume surge to 3,048,209, well above its average of 248,690. This activity resulted in a 26.46% rise in the stock price.

📈 Onconetix Inc (ONCO): Onconetix Inc showed a significant volume increase to 3,602,216, compared to an average of 314,660. The stock price soared by 84.18%, signaling strong market enthusiasm.

📈 Sound Group Inc ADR (SOGP): Sound Group Inc ADR had a trading volume of 75,402, higher than its average of 10,920, although the stock price dropped by 3.09%.

📈 Fangdd Network Group Ltd ADR (DUO): Fangdd Network Group Ltd ADR saw a substantial volume increase to 16,985,549, far exceeding its average of 4,540,660. The stock price jumped by 45.79%, showing heightened investor interest.

Premarket Picks

Establishment Labs Holdings Inc. (ESTA) surged 24.65%, reaching a pre-market price of $51.35 following FDA approval for Motiva Implants.

The Real Good Food Company, Inc. (RGF) saw its pre-market price rise 30.32% to $0.48 after revealing debt refinancing deals with PMC Financial Services and Emblem Investments Fund I, LP.

Scholastic Corporation (SCHL) experienced a notable increase of 6.06%, reaching a pre-market price of $32.01 after announcing its first-quarter results for fiscal 2025.

IonQ, Inc. (IONQ) jumped 7.32% to a pre-market price of $8.65 after securing a $54.5 million contract with the U.S. Air Force Research Lab (AFRL).

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

Top Upgrades:

1. Biomea Fusion, Inc. (BMEA)

Analyst Firm: Truist
Upgrade: Hold to Buy
Price Target: $54
Yesterday’s Close: $9.57

Truist has upgraded Biomea Fusion from Hold to Buy, setting a price target of $54. Analyst price targets for Biomea Fusion range from a low of $9.00 to a high of $60.00, with a median of $19.50 and an average target of $24.50.

Biomea Fusion is a clinical-stage biopharmaceutical company focused on the discovery and development of oral covalent small molecules designed to treat metabolic diseases and genetically defined cancers.

2. Certara, Inc. (CERT)

Analyst Firm: UBS
Upgrade: Neutral to Buy
Price Target: $16
Yesterday’s Close: $10.70

UBS analyst Dan Leonard has upgraded Certara, Inc. from Neutral to Buy, maintaining a price target of $16. Analyst price targets for Certara range from a low of $15.00 to a high of $21.00, with a median of $16.00 and an average target of $17.17.

Certara accelerates drug development through its innovative biosimulation software and services, collaborating with over 2,400 clients worldwide, including biopharmaceutical firms, academic institutions, and regulatory agencies.

3. Vista Energy, S.A.B. de C.V. (VIST)

Analyst Firm: UBS
Upgrade: Neutral to Buy
Price Target: $60
Yesterday’s Close: $45.49

UBS analyst Tasso Vasconcellos has upgraded Vista Energy from Neutral to Buy, raising the price target to $60 from $55. Analyst price targets for Vista Energy range from a low of $50.00 to a high of $80.00, with a median of $62.50 and an average target of $62.38.

Vista Energy focuses on developing low-cost, high-quality assets in Argentina, operating 110 shale oil wells in Vaca Muerta, with an additional inventory of around 1,150 potential wells.

Happy investing,

Maeve Grace
Editor In Chief
Premium Trade 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.