Hello Part-time Trader…👋

As we edge closer to August, the summer heat is far from slowing down the action on Wall Street. This earnings season is in full swing, with McDonald's kicking things off by posting their results before the markets open.

The spotlight will soon shift to four of the Magnificent Seven—Amazon, Apple, Meta, and Microsoft—ready to unveil their performance in the coming days. For those looking to dive deeper into the details, there's plenty to explore.

The excitement doesn’t stop there; central banks are also taking center stage this week. The Federal Reserve is scheduled to announce a crucial rate decision on Wednesday. All eyes will be on the Fed as officials are expected to hint at a possible rate cut in September, thanks to encouraging news on inflation and cooling labor markets.

In a surprising twist, cryptocurrency has reclaimed the limelight with Donald Trump's pledge to establish a national bitcoin stockpile if he returns to office.

Recent market movements have added to the buzz. U.S. stock futures are on the rise, led by contracts tied to the Nasdaq-100. Major indexes managed a rebound on Friday, closing out a tumultuous week on a positive note.

Bitcoin has surged, nearing the $70,000 mark for the first time since mid-June. On the bond front, benchmark U.S. Treasury yields declined, with the 10-year yield settling just under 4.2% on Friday.

Happening Today

✓ 09:00 AM ET – Dallas Fed PCE (Jun)

✓ 10:30 AM ET – Dallas Fed Mfg Business Index (Jul)

✓ 11:30 AM ET – 3 & 6 - Month Bill Auction

PREMARKET SNAPSHOT📈

Market futures are positive, with the S&P 500 up 0.39%, the Dow rising 0.40%, and the NASDAQ gaining 0.59%.

SECTOR SNAPSHOT✨

The market saw a robust rally with gains across all sectors. Industrials and Materials led the charge with strong performances, closely followed by Financials and Consumer Discretionary. Health Care and Information Technology also posted solid increases, contributing to the positive sentiment. Even traditionally stable sectors like Consumer Staples and Utilities showed notable gains. Overall, it was a day of widespread optimism, with every sector ending in the green.

PreMarket Unusual Volume Stocks

📈 Planet Image International Ltd (YIBO): Planet Image International Ltd experienced a significant increase in trading activity with a volume of 3,651,175, far exceeding its average volume of 9,030. This surge in activity led to a 76.30% price change, reflecting heightened market interest.

📈 Lipella Pharmaceuticals Inc (LIPO): Lipella Pharmaceuticals Inc saw an extraordinary surge in volume, trading 16,384,887 shares compared to its average of 45,740. This dramatic increase resulted in an 80.45% price change, indicating strong investor activity.

📈 Cepton Inc (CPTN): Cepton Inc's trading volume rose to 25,920, significantly higher than its average of 10,090. The stock's price change of 21.34% mirrors this spike in trading volume.

📈 TransCode Therapeutics Inc (RNAZ): TransCode Therapeutics Inc saw its volume rise to 2,576,596, far surpassing its average of 1,589,310. This increase in trading activity resulted in an 8.42% price change.

📈 Tivic Health Systems Inc (TIVC): Tivic Health Systems Inc's volume spiked to 3,718,330, a substantial increase from its average of 2,817,070. The stock's 28.83% price change highlights the impact of the increased trading activity.

Premarket Picks

Cognition Therapeutics, Inc. (CGTX) saw its stock jump over 44.73% in pre-market trading to $3.43 per share following positive results from its Phase 2 'SHINE' study (NCT03507790). The study showed that participants treated with CT1812 for six months had consistent cognitive improvements across all measures, including ADAS-Cog 11, ADAS-Cog 13, cognitive composite, and MMSE, compared to those who received a placebo.

Anavex Life Sciences Corp. (AVXL) shares increased by 13.35% in pre-market trading, reaching $7.64 per share. This rise came after the company presented detailed results from its Phase IIb/III study, showing that blarcamesine (ANAVEX®2-73), taken orally once daily, significantly slowed clinical decline in individuals with early Alzheimer's disease (AD).

Lipella Pharmaceuticals Inc. (LIPO) stock surged more than 78.31% in pre-market trading to exceed $0.74 per share. The company announced it had enrolled the first patients in its multi-center Phase 2a clinical trial for LP-310, aimed at treating Oral Lichen Planus (OLP).

Longeveron Inc. (LGVN) shares rose over 21.80% in pre-market trading to $4.19 per share after the company announced that positive Phase 2a clinical trial data and biomarker results were highlighted in two presentations, including a Featured Research Session oral presentation.

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

Important FDA

Recently Announced

On July 25, 2024, AstraZeneca (AZN) faced a setback when an FDA panel expressed concerns about the trial design for IMFINZI as a treatment for resectable non-small cell lung cancer. The panel concluded that the effectiveness of the drug in the different phases of treatment could not be clearly determined.

Phathom Pharmaceuticals (PHAT) received positive news on July 18, 2024, with the FDA approval of VOQUEZNA tablets for the treatment of heartburn associated with non-erosive GERD. This approval marks a significant milestone for the company and offers a new treatment option for patients.

Arcutis Biotherapeutics (ARQT) expanded treatment options for atopic dermatitis with the FDA approval of Roflumilast cream on July 9, 2024. The cream is now available for both adults and children aged six and older, providing relief for mild to moderate cases of the condition.

Upcoming Announcements

scPharmaceuticals Inc. (SCPH) is awaiting a crucial FDA decision in August regarding its drug FUROSCIX. The company seeks to expand the drug's indication to include New York Heart Association Class IV heart failure patients.

ZEVRA THERAPEUTICS, INC. (ZVRA) will face an FDA panel review on August 2nd to discuss the approval of Arimoclomol for the treatment of Niemann-Pick disease type C. A positive outcome from the panel could bring much-needed hope to patients suffering from this rare genetic disorder.

Adaptimmune Therapeutics plc (ADAP) is eagerly anticipating the FDA's decision on August 10th regarding the use of Afami-cel in treating advanced synovial sarcoma. If approved, this immunotherapy could offer a new treatment option for patients with this aggressive form of cancer.

Humacyte, Inc. (HUMA) is on the cusp of a major milestone as the FDA is set to decide on August 10th whether to approve its Human Acellular Vessel for the treatment of vascular trauma. A positive decision could revolutionize the management of life-threatening injuries.

Happy investing,

Maeve Grace
Editor In Chief
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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.