4 Stocks making BIG moves today 📈

Good Morning! 

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

I hope you have a great day in the market. Now, let's get ready to trade!

Markets 📈

The stock market posted mixed results for the second day in a row, with the large-cap headliners holding relatively close to flat. The small-cap Russell 2K pulled back after rallying on Monday.

• S&P 500 [<0.1%]

• Dow [-0.2%]

• Nasdaq [+0.3%]

• Russell 2K [-1.3%]

Futures are up in today’s premarket. S&P 500 contracts are currently showing a 0.1% gain.

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Premarket Highlights 🔎

📉 Bond Rally Spurs Tech, but Overall Stocks Dip

Tuesday's bond market saw a resurgence in action, with 10-year U.S. Treasury note yields hitting their lowest since summer.

This shift gave a leg up to tech shares even as the broader stock market had a gloomy day.

💹 Nasdaq Nudges Up: 

The Nasdaq Composite, known for its tech-heavy lineup, managed a modest 0.3% gain.

However, in the broader S&P 500, tech and consumer discretionary shares couldn't fully counterbalance drops in utilities, energy, materials, and real estate, leading to a slight 0.1% decline in the index. Meanwhile, the Dow Jones Industrial Average fell by 0.2%, approximately 80 points.

🚀 Tech Titans Mostly Up: 

Among the "Magnificent Seven" tech giants that rule the market, almost all enjoyed a rise on Tuesday.

While Meta Platforms dipped by 0.5%, Nvidia led the charge with a 2.3% increase. Apple shone brightly, climbing 2.1% and crossing the $3 trillion market value mark for the first time since early August.

📊 10-Year Treasury Note's New Low: 

Ending at 4.171%, down from Monday's 4.286%, the yield on the 10-year note hasn't been this low since August 31.

Remember, yields drop when bond prices go up, and this latest move is a stark contrast from the 5% peak in late October.

In a nutshell, the bond market's renewed vigor has given tech stocks a much-needed lift, although the overall stock market remains cautious, reflecting a mixed bag of economic signals.

What to Watch Today 👀

ADP Employment Report

CORRECTION: This was originally published in yesterday’s edition, but it was an error. The ADP jobs report is actually today.

New private sector job data for November will drop today in the form of the ADP jobs report. This crucial read on job activity will give investors new insights into the state of the U.S. economy, and it will set expectations for Friday’s Employment Report from the federal government.

Featured Earnings 💲

• Brown-Forman [BF.A] ... AM

• Campbell Soup Company [CPB] ... AM

• Thor Industries [THO] ... AM

• Ollie's Bargain Outlet Holdings [OLLI] ... AM

• Veeva Systems [VEEV] ... PM

• Chewy [CHWY] ... PM

• Braze [BRZE] ... PM

• GameStop Corporation [GME] ... PM

• C3.A [AI] ...PM

• Greif [GEF] ... PM

Economy 🏗

• ADP employment [Nov] ... 8:15a

• U.S. productivity (revision) [Q3] ... 8:30a

• U.S. trade deficit [Oct] ... 8:30a

Gainers

• Sonomar Pharma [SNOA] >> +22.7%

• Barfresh Food [BRFH] >> +22.9%

• Addentax [ATXG] >> +22.1%

Decliners

• Replimmune [REPL] >> (44.8%)

• Designer Brands [DBI] >> (26.6%)

• SilverSun Tech [SSNT] >> (26.2%)

Pharvaris [PHVS] - Last Close: $20.95

This morning, Pharvaris announced that a Phase 2 clinical study of eucrictibant to prevent hereditary angioedema attacks met its primary endpoint.

According to the press release, the drug reduced patients’ monthly attach rate by 84.5% compared to placebo in the 40 mg a day dosing cohort.

The company also announced an underwritten offering of 11.125 million shares priced at $24 each alongside the clinical update.

Shares of PHVS are up 37.2%. So far, we’ve seen about 153K shares traded this morning.

ZyVersa Therapeutics [ZVSA] - Last Close: $2.17

New clinical data shows ZyVersa’s AIM2 and NLRP3 could hold promise as a treatment for atherosclerosis in diabetes patients.

The company published a paper in the medical journal Diabetes titled, “Hematopoietic NLRP3 and AIM2 inflammasomes promote diabetes-accelerated atherosclerosis, but increased necrosis is independent of pyroptosis.”

The data supported the company’s rationale for targeting ASX to inhibit multiple inflammasome pathways.

ZVSA is up 35.4% in early trading with 3.5 million shares traded.

MicroAlgo [MLGO] - Last Close: $2.42

This morning, the algorithmic solutions firm announced its Chinese subsidiaries will establish a postgraduate training practice base.

Under the terms of the deal, the companies will train master's degree students, pair tutors with students in school, and offer other educational services.

The deal includes MicroAlgo and two subsidiaries, Shenzhen University Semiconductor Manufacturing Research Institute and Haikou Comprehensive Free Trade Zone Management Committee.

MLGO is up 73.1% with 4 million shares traded in the premarket.

Greenbrook TMS [GBNH] - Last Close: $0.222

After Tuesday’s close, Greenbrook announced it had raised $2.5 million in debt financing via an amended credit facility with Madryn Asset Management.

The company secured an additional $2.5 million in senior secured term loans, bringing its aggregate credit facility balance to $72 million outstanding.

Under the terms of the deal, Madryn has the option to convert up to $227K of the loan into common shares of GBNH.

GBNH is one of this morning’s top movers with a 46.0% gain.

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

Best Regards,

— Chris D.
Elite Trade Club

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