Good Morning, Traders!…👋

U.S. stock futures are trending lower this Tuesday morning after record highs in the previous session. Both the S&P 500 and Nasdaq Composite started December on a strong note with fresh highs, but the focus now shifts to a packed week of economic data, culminating in Friday’s highly anticipated jobs report.

Traders are increasingly betting on a December rate cut, with the probability of a quarter-point reduction rising to 73%, up from 59% just a week ago, according to the CME FedWatch tool. Meanwhile, the yield on the 10-year Treasury note ticked up slightly to 4.217% early Tuesday.

On the global front, the People’s Bank of China vowed on Monday to reduce financing costs for companies and households. Governor Pan Gongsheng emphasized plans to use various monetary tools to strengthen countercyclical adjustments and ensure ample liquidity, signaling a proactive stance amid economic challenges.

Happening Today

✓ 10:00 AM ET – JOLTS Job Openings (Oct)

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

PREMARKET SNAPSHOT 📈

Market futures are nearly flat, with the S&P 500, Dow, and NASDAQ all showing very slight declines.

SECTOR SNAPSHOT✨

Yesterday, most sectors ended the day in the red, with Energy, Financials, Health Care, and Industrials leading the declines. Energy saw a significant drop of 0.85%, while Financials and Industrials both experienced losses of around 0.90% and 0.66%, respectively. Health Care also dipped by 0.13%. Materials and Utilities followed suit, with losses of 0.20% and 2.08%. On the brighter side, Consumer Discretionary led the gainers with an increase of 1.06%, while Information Technology and Communication Services posted gains of 1.03% and 1.45%. Real Estate also managed a small gain of 1.44%.

PreMarket Unusual Volume Stocks

📈 Cheetah Net Supply Chain Service Inc (CTNT) had an explosive session, with its stock price skyrocketing by an incredible 312.83%, closing at $7.72. The trading volume reached 27.8 million shares, massively surpassing its average of 139K. This surge underscores substantial investor interest, possibly driven by major company developments.

📈 Shimmick Corp (SHIM) posted a strong 62.14% gain, closing at $4.54. The trading volume hit 11.6 million shares, significantly higher than its average of 69K. This impressive performance highlights growing market confidence in the company's potential.

📈 Citius Oncology Inc (CTOR) recorded a solid 41.18% rise, ending the session at $1.44. The trading volume was 12.2 million shares, far exceeding its average of 214K. This surge reflects heightened investor enthusiasm, likely fueled by positive news in the oncology sector.

📈 Nauticus Robotics Inc (KITT) experienced a modest 5.36% increase, closing at $1.18. The trading volume reached 4.06 million shares, slightly above its average of 918K. This steady climb signals continued interest in the company's robotics and AI solutions.

📈 Jayud Global Logistics Ltd (JYD) saw a notable 21.77% rise, ending the day at $0.82. The trading volume was 268K shares, surpassing its average of 69K, suggesting growing investor attention in the logistics sector.

Premarket Picks

Cheetah Net Supply Chain Service Inc. (CTNT) saw a remarkable pre-market surge of 221.81%, with its stock price reaching $6.05. This jump followed the company’s announcement that it had signed definitive agreements to acquire TW & EW.

Janux Therapeutics, Inc. (JANX) experienced a pre-market surge of 74.24%, bringing its stock price to $70.01. This increase was driven by the release of positive updated interim clinical data for its JANX007 clinical program.

Shimmick Corporation (SHIM) saw its stock rise by 62.85%, reaching $4.56 in pre-market trading. The surge followed the announcement that the company had been awarded a $45.4 million contract for seismic retrofitting and improvements to the Murray Street Bridge at the Santa Cruz Small Craft Harbor.

Nauticus Robotics, Inc. (KITT) gained 8.93% in pre-market trading, with its stock price reaching $1.22. This increase came after the company completed a subsea field inspection project for a second global supermajor oil and gas company in the Gulf of Mexico, utilizing its flagship underwater vehicle, Aquanaut Mark 2.

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

Top Upgrades:

1. Synchrony Financial (SYF)

Analyst Firm: Wells Fargo
Upgrade: Equal Weight to Overweight
Price Target: $85
Yesterday's Close: $67.09

Wells Fargo raised its rating on Synchrony to Overweight from Equal Weight and increased its price target to $85, up from $60.

The stock price target for Synchrony Financial (SYF) is $85.00, with a median of $67.50, a low of $40.00, and an average of $65.88. Synchrony is a leading consumer financial services company offering one of the most complete digitally enabled product suites in the industry.

2. CVS Health Corporation (CVS)

Analyst Firm: Deutsche Bank
Upgrade: Hold → Buy
Price Target: $66
Yesterday's Close: $59.08

Deutsche Bank analyst George Hill has upgraded CVS Health Corporation to Buy from Hold, maintaining a price target of $66.

As a leader in health solutions, CVS Health is committed to delivering comprehensive care and fostering a seamless healthcare experience for consumers.

Analyst projections for CVS Health's stock price target span from a low of $57.00 to a high of $80.00, with a median estimate of $65.50 and an average target of $66.32.

3. The Kroger Co. (KR)

Analyst Firm: Jefferies
Upgrade: Hold to Buy
Price Target: $73
Yesterday's Close: $60.15

Jefferies analyst Rob Dickerson upgraded Kroger (KR) to Buy from Hold and raised its price target to $73, up from $54.

The stock price target for Kroger Co. (KR) ranges from a high of $70.00 to a low of $52.00, with a median of $58.50 and an average of $59.11. Kroger serves over 11 million customers daily through its stores and digital platforms, focusing on food inspiration and creating #ZeroHungerZeroWaste communities.

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.