Futures rise with Jobs report on deck 📈

Stocks are hoping for a strong finish to the trading week after Thursday's sell-off.                                                                                                                                                                                                                                                                                                                                                                                                                 April 05, 2024 | [Read Online]( Good Morning! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Let’s get ready to trade! Markets 📈 Stocks posted steep losses on Thursday after running in positive territory for most of the session. The Nasdaq underperformed among large-cap indexes.. - Dow [-1.3%] - S&P 500 [-1.2%] - Nasdaq [-1.4%] - Russell 2K [-1.0%] Futures are up in early premarket trading. S&P 500 contracts are currently showing a 0.4% gain. What to Watch Today: The March jobs report will likely be the big story to watch in today’s session. Economists’ estimate the U.S. economy added 200,000 jobs last month, down from February’s figure of 275,000. [Eye-Popping 96% Win Rate for Simple Options]( When smart traders win 96% of their options trades... with this simple system... Could this be the easiest trading system ever? It's not complicated. It's not some weird AI indicator. It's not about spending hours glued to a trading chart. Instead, it's a system that wins 96% of the time. [Click here to be one of 37 traders today to see how this is done.]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 🛒 Oil Price Surge Threatens Summer Gas Spike Brent crude futures have surged 18% in 2024, crossing the $90 mark for the first time since October, amid a confluence of drone attacks in Russia, tensions in the Middle East, and robust consumer demand. This uptick in oil prices, accentuated by an Israeli strike on Iranian premises, raises concerns about a potential spike in gas prices just as the summer driving season approaches. Underpinning Factors ⛽ The current rally is supported by a global shortfall in crude, partly due to OPEC and its allies' production cuts. With U.S. gasoline supplies 3% below the seasonal average and near a five-year low for this period, there's apprehension about meeting the upcoming summer demand. Gasoline Prices 💡 Despite the tight supply, there's hope that heightened refining activity, with U.S. refineries expected to process an additional 700,000 barrels daily by summer, might temper a significant surge in gas prices. However, this increased activity could further elevate crude prices. Economic Implications 🔍 Analysts from Bank of America anticipate Brent prices could peak at $95 a barrel this summer, influenced by low gasoline stockpiles globally. Rising fuel costs, especially with the presidential election looming, could push average gas prices beyond $4 a gallon, impacting consumer spending and inflation, which remains above the Federal Reserve's target. Featured Earnings 💰️ - Greenbrier Companies [GBX] ... AM - Byrna Technologies [BYRN] ... AM Economy 🏗 - Jobs Report [Mar] ... 8:30a - Consumer credit [Mar] ... 3:00p Running Hot 🔥 Gainers - Massimo Grp [MAMO] >> +29.5% - Grindrod Shipping [GRIN] >> +27.0% - Supercom [SPCB] >> +29.1% Decliners - Semntix [STIX] >> (43.7%) - Global Gas [HGAS] >> (24.7%) - Complete Solaria [CSLR] >> (22.5%) GCT Semiconductor [GCTS] - Last Close: $5.73 GCT Semiconductor has signed a deal with Saudi Aramco to collaborate on the development of 4G & 5G systems in the Middle Eastern kingdom. According to the press release, the collaboration its to design nd co-develop chipsets tailored for LTE, 5G, and the NTN spectrum. GCTS is up 75.5% on over 3.5 million shares traded in response to the news. My Take: Saudi Aramco is one of the largest companies on earth, so GCTS appears to have landed itself a very deep-pocketed partner with this deal. Mediaco [MDIA] - Last Close: $1.40 A Schedule 13D/A filing in Thursday’s aftermarket revealed General L.P. has taken a 95.2% stake in radio station operator Mediaco. Share prices were already up 197.8% over the past 10 days heading into today’s session, and they’re rallying again in response to this news. MDIA is a top mover with a 71.4% gain on over 6 million shares traded. My Take: General LP’s stake in MDIA is a strong indicator that they have big plans for this company. They could be planning to pursue a buyout or take-private deal, which could provide another rally catalyst down the road. DigiAsia Corp [FAAS] - Last Close: $5.50 After a deep two-day sell-off, DigiAsia Corp is swinging higher in today’s premarket, despite no obvious catalyst. DigiAsia closed a SPAC deal with StoneBridge Acquisition Corp earlier this week, and it’s shares plummeted when they hit the market. However, the losses appears to have been overdone because shares are rebounding dramatically in today’s premarket. FAAS is up 40.5% on over 1 million shares traded. My Take: FAAS is facing stiff resistance at $12.50, but it could find new support around $7.50 if it can hang on to the close. Hub Cyber Security [HUBC] - Last Close: $0.719 This tiny cybersecurity stock is on our list again after announcing an $8 million financing round early this morning. Hub Cyber said it secured the straight debt financing arrangement to “accelerate growth and strengthen [its] financial position.” HUBC is up 37.5% on the news, with over 13 million shares traded in the premarket. My Take: HUBC managed to keep the momentum going with this catalyst, but I don’t see how taking borrowing $8 million justifies such move. I expect this stock to pullback sometime next week.. That's it for today! Thanks for reading, and good luck out there! Best Regards, — Chris D. Elite Trade Club Text ELITE to 47121 or [click here]( to get our alerts on your mobile device, and never miss another fast-moving stock! P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [Sign up for SMS]( Join Insider NOW to access to this report! [Get Instant Access Here]( [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website, which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside these emails. 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