Stocks tread water in early trading 🎢

Good Morning! 

It's Chris from Elite Trade Club, here to give you this morning's premarket trading news.

Did you have a chance to check out the eclipse yesterday? If you got any cool pictures, send them to us and we might give you a shout out in one of our daily emails! 😎 

Let’s get ready to trade!

Markets 📈

Stocks opened the trading week with a flat performance on Monday. The Dow, Nasdaq, and S&P 500 all closed within 0.1% of zero.

Futures are edging higher in early trading but only by a thin margin. S&P 500 contracts are up by less than 0.1%.

What to Watch Today:
Tuesday is shaping up to be another quiet session, with minimal economic and earnings activity. The trading week will really go into full swing tomorrow, with the release of March CPI data, but it feels like we could see a repeat of yesterday’s uncertain trading action in today’s session.

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Premarket Highlights 🔎

🌟 Commodities Surge Could Change the Game

This year, a significant uptick in commodity prices reflects growing investor confidence in a sustained economic expansion, with potential implications for inflation's return. The S&P GSCI, an index tracking global commodity prices, has seen a 12% increase, outperforming the S&P 500's 9.1% rise. Notably, copper and oil have surged by over 10% and 17%, respectively, with gold reaching new heights at a 13% increase to $2,332 per troy ounce.

Expectations 🌍
The rally is primarily driven by optimistic forecasts for economic growth, particularly from the U.S. and China, where recent reports indicate manufacturing recoveries. This optimism has ignited a buying spree, benefiting energy and materials shares but also raising concerns over potential gasoline price hikes ahead of the summer.

Sustained Momentum 💡
Experts from Macquarie Group suggest that real income growth, reinvigorating global goods demand, may continue to push commodity prices upwards. This scenario poses a challenge to the Federal Reserve's efforts to combat inflation, especially as market participants question the feasibility of interest rate cuts later this year.

Pivot 🔁
This commodities rally marks a reversal from an 18-month downturn triggered by geopolitical tensions, notably Russia's invasion of Ukraine, and dampened by recession fears, rising interest rates, and China's post-Covid recovery challenges. As commodities ascend, the broader economic implications and the Federal Reserve's response remain closely watched indicators of future market directions.

Featured Earnings 💰️ 

• Neogen [NEOG] ... AM

• Tilray Brands [TLRY] ... AM

• Cognyte Software [CGNT] ... AM

• WD-40 Company [WDFC] ... PM

• PriceSmart [PSMT] ... PM

• Smart Global Holdings [SGH] ... PM

• RCI Hospitality Holdings [RICK] ... PM

• Aehr Test Systems [AEHR] ... PM

• Greenidge Generation Holdings [GREE] ... PM

• Neuraxis [NRXS] ... PM

Economy 🏗

• None.

Gainers

• Rail Vision [RVSN] >> +17.8%

• Addex Therapeutics [ADXN] >> +22.2%

• Pineapple Finance [PAPL] >> +31.3%

Decliners

• Vincerx Pharma [VINC] >> (64.4%)

• Focus Universal [FCUV] >> (30.7%)

• Time [WTO] >> (19.3%)

Acrivon Therapeutics [ACRV] - Last Close: $5.91

This tiny biotech is surging after announcing a new $130 million private placement financing round on Monday.

The share purchase agreement includes 8.235 million shares of common stock priced at $8.50 per share through PIPE financing.

Investors include RA Capital Management, Perceptive Advisors, Paradigm BioCapital, and others.

ACRV is leading the premarket with a 75.2% gain on more than 3.5 million shares traded.

Laser Photonics [LASE] - Last Close: $1.43

Laser Photonics just landed an order from industrial defense giant L3Harris Technologies for its Lasertower marking & engraving system.

L3Harris will use LPC’s LaserTower COMPACT system at its semiconductor division in Palm Bay, Florida.

Financial details of the purchase order weren’t revealed in the initial press release.

LASE is up 68.5% on over 8 million shares traded.

Biophytis [BPTS] - Last Close: $0.3201

This tiny biotech is rallying despite announcing yesterday that it has “serious doubt” of its ability to continue business activities in the next year.

Biophytis said its current cash runway “should not be sufficient” to support its operating plan, but it expects to have financing to support operations & activities planned for Q1 2025.

In a separate statement, the company said it will start a new clinical development program named OBA to evaluate BIO101 as a potential treatment for obesity in combination with GLP-1 receptor agonists.

BPTS is up 32.3% on more than 7.5 million shares traded.

Mymd Pharmaceuticals [MYMD] - Last Close: $2.57

Mymd Pharma is rallying after an announcement in yesterday’s session pertaining to an offering and a personnel shake-up.

The company announced amendments to a previously announced securities purchase agreement pertaining to Series F Convertible Preferred Stock.

Mymd also increased the number of its directors from seven to six, citing the amended and restate certificate of designations as the reason.

MYMD is up 31.5% on more than 4.5 million shares traded.

That's it for today! Thanks for reading, and good luck out there!

Best Regards,

— Chris D.
Elite Trade Club

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