Stocks aim to snap their losing streak 📈

The S&P 500 and Nasdaq were shut out last week, but they're looking to bounce back in today's session.                                                                                                                                                                                                                                                                                                                                                                                                                 April 22, 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 closed out the trading week with another down performance, capping off a shutout trading week for the S&P 500 and Nasdaq. - Dow [+0.5%] - S&P 500 [-0.8%] - Nasdaq [-2.0%] - Russell 2K [+0.2%] S&P 500 futures are up 0.5% in early trading, hinting at the possibility of a rebound in today’s trading session. What to Watch Today: How will the market respond after last week’s rout? The S&P 500 is looking for its first gain in over a week, but souring investor sentiment might trip up the rebound rally. The market has struggled since hawkish comments from Federal Reserve officials indicated rate cuts could be farther off than initially hope. If stocks can return to form this week, it could be sign that last week’s sell-off will stop short of becoming a long-term downtrend. [Get a FREE Stock Analysis: Don't Guess on a Stocks True Value]( Get a full report that tells you what a stock is really worth, how safe the stock is, and if the timing is right to buy the stock. Plus, it offers a definitive Buy, Sell, Hold recommendation for every ticker. Take it for a test drive now to see how your favorite stock stacks up! [Analyze Any Stock Free »]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 🚀 Big Tech Earnings: Crunch Time After a Tough Week Last week wasn't easy for the behemoths of the tech world, often lovingly called the Magnificent Seven, as they saw a staggering $950 billion wiped off their combined market value. It's the biggest drop on record, leaving giants like Microsoft and Nvidia licking their wounds after particularly rough weeks. With the S&P 500 also down by 5.5% this April, it's clear everyone's feeling the heat. A Chance to Shine? 🌟 This week, all eyes are on the earnings reports from some of the Magnificent Seven, including Tesla and Microsoft. It’s a big chance for these tech titans to dust themselves off and potentially give the markets a much-needed pep. Given their track record of strong growth, there’s a lot riding on their financial disclosures. High Hopes 💡 Despite the recent turmoil, tech stocks have been a beacon of growth, attracting investors with their bright prospects. FactSet analysts are optimistic, predicting a 20% earnings increase for the info tech sector this first quarter, with communications services (home to Meta and Alphabet) expecting similar growth. Meanwhile, the broader S&P 500’s earnings are only expected to tick up by 0.5%. The Big Picture 📈 The influence of the Magnificent Seven is undeniable. They've more than doubled in average value in 2023 and now make up 29% of the S&P 500’s market value as of the end of March. Their performance can sway the market significantly, illustrating just how crucial this week's earnings are. Schedule for Tech Titans 🗓️ The earnings parade starts with Tesla on Tuesday afternoon, followed by Meta on Wednesday, and then Microsoft and Google’s parent Alphabet on Thursday. Amazon and Apple are on deck for next week, while Nvidia will step into the earnings spotlight in May. AI Hype 🚀 Tech stocks have been riding high on the AI wave and the optimism of a 'soft landing' for the U.S. economy. However, with inflation proving stickier than anticipated and Fed Chair Jerome Powell pouring cold water on hopes for an imminent rate cut, the lofty dreams of continued easy monetary policy may need adjusting. Uncertain Waters 🧭 As the 10-year Treasury yield nudges upwards, the broader economic forecast becomes murkier. This week could either mark a turnaround for Big Tech or signal more caution ahead, depending on how these giants report their earnings and their outlooks in these intriguing yet uncertain times. Featured Earnings 💰️ - Verizon Communications [VZ] ... AM - Truist Financial [TFC] ... AM - Albertsons Companies [ACI] ... AM - Cadence Design Systems [CDNS] ... PM - Nucor [NUE] ... PM - Ameriprise Financial [AMP] ... PM - Brown & Brown [BRO] ... PM - Alexandria Real Estate Equities [ARE] ... PM - Packaging Corporation of America [PKG] ... PM - Equity Lifestyle Properties [ELS] ... PM Economy 🏗 - None. Running Hot 🔥 Gainers - OLB Group [OLB] >> +28.3% - CNS Pharma [CNSP] >> +13.8% - Good Times [GTIM] >> +18.1% Decliners - Vaxxinity [VAXX] >> (61.3%) - Hepion Pharma [HEPA] >> (42.8%) - Biophytis [BPTS] >> (13.0%) Moolec Science [MLEC] - Last Close: $1.40 This morning, Moolec Science Sid it has become the first farming company to get USDA approval for plant-grown animal proteins. Animal and Plant Health Inspection Service of the USDA approved Moolec's genetically engineered soybean Piggy Sooy. MLEC is up 110.8% on over 13 million shares sold. My Take: MLEC has struggled as of late, and I don’t think lab-grown meat is going to save them. As we’ve seen with Beyond Meat, the demand for these products often falls well short of Wall Street’s expectations. Complete Solaria [CSLR] - Last Close: $0.45 The tiny solar company’s chairman, T.J. Rodgers, has made a $5 million investment in the company via a debt-to-equity conversion. Last week, CSLR suffered a steep sell-off after introducing options for its stock, but the company blamed a “short attack” for the sudden losses. Rodgers said he made his $5 million investment “as an indication of [his] belief in the company.” CSLR is up 47.2% on over 4 million shares traded. My Take: CSLR has had a rough run of it in 2024, but we could be approaching the bottom of the pullback. NKGen Biotech [NKGN] - Last Close: $1.11 NKGen Biotech is still running hot after announcing an upcoming presentation on its SNK01 cell therapy in Thursday’s aftermarket. The company will present new data on the neurodegenerative disease therapy at an upcoming Alzheimer’s & Parkinson’s drug development summit. Shares jumped 28.6% on Friday in response to the news, and they’re up another 38.3% in today’s premarket, with over 1.5 million shares traded. My Take: NKGN is seeing big gains in anticipation of the upcoming presentation, but we could see some selling ahead of the presentation date. SuperCom [SPCB] - Last Close: $0.24 A double-line earnings beat is lifting SuperCom to the top of the charts in today’s premarket trading session. SPCB revenues grew 51% YoY to $5.668 million, topping the $5.5 million consensus, and the company posted a surprise profit of $0.15 per share against the Street’s estimate of a $(0.15) per share loss. SPCB is up 27.9% on over 14 million shares traded. My Take: SPCB has been extremely volatile lately, so I’m not confident it will hold onto these gains. Watch yourself on this one. 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]( [Privacy Policy]( | [Advertiser Disclosure]( [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. 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