4 Premarket breakouts to watch today 🚀

Futures are up, and these stocks are flying high as the market attempts to snap a losing streak that dates back to last week.                                                                                                                                                                                                                                                                                                                                                                                                                 April 18, 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 losses again on Wednesday and added another notch to their losing streak. The Nasdaq was the day’s big loser with a 1.1% loss. - Dow [-0.1%] - S&P 500 [-0.5%] - Nasdaq [-1.1%] - Russell 2K [-0.9%] Futures are once again pointing higher in early trading. Both Dow and S&P 500 contracts are up by around 0.3%. What to Watch Today: It’s a quiet day for economic updates, so corporate earnings will likely be the focal point of today’s session. In the morning, we’ll hear from Blackstone, and we’ll get a big report from Netflix after the closing bell. [Unlock Market Mastery with Elite Trade Club Insider]( Elite Trade Club Insider offers a goldmine of exclusive financial insights and top stock picks every month, designed to cater to both beginners and seasoned investors. Benefit from in-depth research reports and the collective expertise of market professionals like Adam and Chris, who are dedicated to bringing you the best research and analysis. As an insider, you'll receive bi-monthly exclusive market insights, high-potential stock ideas, and comprehensive guides to enhance your trading skills. Additionally, enjoy our ad-free daily newsletter, special situation alerts, and full access to all past and future content. Join now to transform your investment strategy and achieve remarkable financial growth. [Upgrade Now!]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 🏡 March Home Sales Dip Amid Rising Mortgage Rates After a hopeful start to the year, the U.S. housing market is anticipated to have faced a downturn in March due to increasing mortgage rates. Following an uptick in sales during January and February, driven by a temporary dip in mortgage rates, the resurgence in rates has seemingly curtailed the momentum entering the crucial spring buying season. Economists surveyed by The Wall Street Journal project a 4.8% decline in sales of previously owned homes from February, on a seasonally adjusted basis. Data Release ⏰ The expected downturn will be detailed in a forthcoming report from the National Association of Realtors, set for release at 10 a.m. Eastern time on Thursday. This data primarily reflects housing transactions finalized in February and January, during which purchase decisions were influenced by the prevailing mortgage rates. Mortgage Challenges 📈 The average rate on a 30-year fixed mortgage has crept back towards the 7% mark, as noted by Freddie Mac, posing further challenges to affordability for prospective homebuyers. This increase in mortgage rates is a critical factor in the cooling demand for home purchases as it significantly impacts monthly repayment amounts and overall buying costs. Inflation Concerns 💸 While many economists initially anticipated a decrease in mortgage rates later in the year, recent unexpectedly strong inflation figures could alter these forecasts. If inflation persists at higher levels, Federal Reserve officials may opt to maintain higher interest rates for an extended period to temper economic overheating, potentially preventing a significant drop in mortgage rates. Market Implications 📊 The potential stagnation in mortgage rate reductions could prolong the affordability issues within the housing market, making it a critical aspect for buyers and investors to monitor. As the market reacts to these economic indicators, stakeholders will be keenly observing the Federal Reserve's subsequent moves and their impact on the housing sector's trajectory as the year progresses. Featured Earnings 💰️ - Blackstone [BX] ... AM - Elevance Health [ELV] ... AM - Marsh & McLennan Companies [MMC] ... AM - D.R. Horton [DHI] ... AM - Genuine Parts Company [GPC] ...AM - Snap-on Incorporated [SNA] ... AM - KeyCorp [KEY] ... AM - Netflix [NFLX] ... PM - Intuitive Surgical [ISRG] ... PM - PPG Industries [PPG] ... PM Economy 🏗 - Initial jobless claims [Apr] ... 8:30a - Philadelphia Fed manufacturing survey [Apr] ... 8:30a - Existing home sales [Mar] ... 10:00a - U.S. leading economic indicators [Mar] ... 10:00a Running Hot 🔥 Gainers - Tian Ruixiang [TIRX] >> +254.6% - MicroCloud Hologram [HOLO] >> +45.0% - Birks [BGI] >> +23.8% Decliners - iLearning Engines [AILE] >> (15.1%) - Lithium Americas [LAC] >> (29.5%) - NRX Pharma [NRXP] >> (25.6%) Bio-Path [BPTH] - Last Close: $3.24 This tiny biotech just announced the successful completion of a higher-dose cohort in a Phase 1/1b trial of BP1002 in acute myeloid leukemia patients. We are delighted to … reach an important study milestone for the United States Food and Drug Administration (FDA),” said CEO Peter Nielsen. BPTH is up 62.8% on over 6 million shares traded. My Take: BPTH has had a rough run as of late, so this move might be a hit exaggerated. It could also mark the start of a turnaround. AGBA Group [AGBA] - Last Close: $0.40 Chinese finance firm AGBA agreed to a $4 billion merger deal with Triller Corp that will create a “leading one-stop financial supermarket” in Hong Kong. Triller will become a wholly-owned AGBA subsidiary upon closing, with AGBA shareholders controlling 20% of the combined company. Financial details weren’t disclosed in the initial press release, but AGBA is up 170.0% on over 10.5 million shares traded. My Take: AGBA’s rally seems overdone. I expect we’ll see a pullback before the end of the week. 23andMe [ME] - Last Close: $0.3562 23andMe CEO Anne Wojcicki has announced her intentions to pursue take the company private by acquiring all outstanding shares of the company. Wojcicki currently owns 20% of all outstanding shares and controls 49% of the voting power at the company. The board recently formed a special committee to review strategic alternatives, and the committee will review Ms.Wojcicki’s proposal. ME is up 31.2% on over 2.5 million shares traded. My Take: It looks like ME is making a move for the private market. That could mean there’s a pay day ahead for investors, but there’s still a lot of uncertainty at play here. SINTX Technologies [SINT] - Last Close: $42.0 Late Wednesday, SINTX announced a special meeting of shareholders on May 14th to vote on a reverse stock split proposal. The company says it’s pursuing a reverse split at a rate of no less than 1-for-100 ad no more than 1-for-300. SINT is up 42.0% in the premarket on more than 40 million shares traded. My Take: SINT jumped 62.8% yesterday, and now it’s running hot again today. I think there’s some manipulation going on here so you probably want to approach this one with caution. 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. 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