Good Morning, Traders!…👋

U.S. stock futures pointed lower early Thursday, weighed down by technology stocks following a lukewarm reception to Nvidia's latest earnings report. Nasdaq 100 futures declined 0.6%, S&P 500 futures dropped 0.5%, and Dow Jones Industrial Average futures slipped 0.3%.

Anticipation of Nvidia's earnings kept markets in limbo on Wednesday. The Dow managed to eke out slight gains, the S&P 500 remained flat, and the Nasdaq Composite edged 0.1% lower. Nvidia, a market bellwether, delivered a strong fiscal third-quarter performance, exceeding expectations and providing an upbeat outlook for the January quarter.

However, after an impressive 195% rally in 2024, the report failed to ignite further enthusiasm, with Nvidia shares falling 2.5% in after-hours trading. If the losses persist, the drop could weigh on broader market sentiment given Nvidia’s significance in the S&P 500.

Happening Today

✓ 08:30 AM ET - Initial Jobless Claims

✓ 10:00 AM ET - Existing Home Sales (Oct)

✓ 10:00 AM ET - US Leading Index (MoM) (Oct)

✓ 01:00 PM ET - 10-Year TIPS Auction

✓ 04:30 PM ET – Fed's Balance Sheet

PREMARKET SNAPSHOT 📈

Market futures are mixed, with the S&P 500 and Dow showing slight gains, while the NASDAQ is down slightly by 0.09%.

SECTOR SNAPSHOT✨

Yesterday, the market saw mixed performance across sectors. Energy and Health Care led the way, rising by 1.00% and 1.18%, respectively. Materials also showed strength, increasing by 0.72%, while Industrials and Communication Services posted modest gains. However, Consumer Discretionary, Consumer Staples, and Real Estate ended the day in the red, with declines of 0.57%, 0.18%, and 0.18%, respectively. Information Technology and Financials also saw slight losses, down 0.23% and 0.28%. Overall, while some sectors performed well, many others faced downward pressure.

PreMarket Unusual Volume Stocks

📈 SCWorx Corp (WORX) experienced an extraordinary trading session, with its stock price surging 92.86% to close at $1.89. The trading volume was exceptionally high at over 19.5 million shares, far exceeding its average of 91K. This significant gain highlights strong market interest and potential positive developments surrounding the company.

📈 Real Messenger Corp (RMSG) posted a notable 36.70% gain, closing at $5.14. The trading volume reached over 3.5 million shares, well above its average of 91K. This sharp increase reflects heightened investor enthusiasm and possible momentum in the company's business operations.

📈 Wag Group Co (PET) saw its stock price rise by 41.74%, ending the day at $0.30. The company traded an impressive 20.3 million shares, substantially surpassing its average of 1.1 million, indicating strong investor interest and positive sentiment in the pet care sector.

📈 Veea Inc (VEEA) recorded a solid performance, with its stock price climbing 18.79% to close at $3.35. The trading volume was over 3.6 million shares, significantly higher than its average of 236K. This gain underscores positive sentiment and growing interest in the company's technology offerings.

📈 Interactive Strength Inc (TRNR) experienced a remarkable 60.45% increase in its stock price, closing at $5.76. The company saw a trading volume of 2.7 million shares, well above its average of 549K. This strong performance reflects substantial market interest and potential positive developments driving the stock.

Premarket Picks

SCWorx Corp. (WORX) saw a significant pre-market surge of 101.02%, with its stock price reaching $1.97. This surge followed the company’s announcement that it had achieved compliance with Nasdaq’s Periodic Reporting Listing Standard.

Real Messenger Corporation Ordinary Shares (RMSG) experienced a pre-market gain of 51.59%, bringing its price to $5.73. The increase came after Real Messenger Holdings Limited and Nova Vision Acquisition Corp. completed their previously announced business combination.

Veea Inc. (VEEA) saw its stock rise by 24.82%, with a pre-market price of $3.52. The surge was driven by the announcement of a global partnership with DeepGreenX Group Inc. to roll out a transformative platform aimed at accelerating the transition to global green energy.

Crown Electrokinetics Corp. (CRKN) gained 26.74% in pre-market trading, pushing its price to $0.99. The increase came after the company highlighted the potential impact of the incoming Trump administration on its lead pipe detection and remediation businesses, Element 82 and PE Pipelines.

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

Top Upgrades:

1. SFL Corporation Ltd. (SFL)

Analyst Firm: Fearnley
Upgrade: Hold to Buy
Price Target: $13
Yesterday's Close: $10.64

Fearnley has upgraded SFL Corporation Ltd. to a “Buy” rating from “Hold,” reflecting increased confidence in the company’s growth potential. The price target has been set at $13, signaling optimism in SFL’s diversified fleet operations, which span tankers, bulk carriers, container ships, car carriers, and offshore drilling rigs. Analyst stock price projections for SFL range from a high of $16.00 to a low of $10.80, with a median of $12.50 and an average target of $12.95, underlining its position as a key player in global shipping and logistics.

2. EVERTEC, Inc. (EVTC)

Analyst Firm: Morgan Stanley
Upgrade: Underweight to Equal Weight
Price Target: $35
Yesterday's Close: $34.84

Morgan Stanley analyst James Faucette has raised EVERTEC’s rating to “Equal Weight” from “Underweight,” with a revised price target of $35, up from $33. EVERTEC continues to assert its leadership in financial technology and transaction processing across Latin America, Puerto Rico, and the Caribbean. Analyst price targets for EVTC range from a high of $42.00 to a low of $28.00, with a median and average target of $36.00, highlighting its strategic role in merchant acquiring, payment services, and business process management.

3. Royal Bank of Canada (RY)

Analyst Firm: Barclays
Upgrade: Equal-Weight to Overweight
Price Target: $180
Yesterday's Close: $121.79

Barclays has upgraded Royal Bank of Canada (RY) to “Overweight” from “Equal-Weight,” reflecting enhanced confidence in the bank's growth prospects. The price target has been raised significantly from $150 to $180, implying a substantial upside potential of 47.8% from its last close. As one of the leading global financial institutions, Royal Bank of Canada continues to strengthen its position in core banking, wealth management, and capital markets. This upgrade underscores the bank's resilience and growth potential in an evolving economic landscape.

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.