Can stocks stay hot this week? 🔥

Futures are down in early trading, with a jam-packed earnings and economy schedule on deck.                                                                                                                                                                                                                                                                                                                                                                                                                 April 29, 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 📈 U.S. benchmarks shook off a mid-week stupor and closed out last week’s trading action on a high note. Both the Nasdaq and S&P 500 notched big rallies, along with the Russell 2K. - Dow [+0.4%] - S&P 500 [+1.0%] - Nasdaq [+2.0%] - Russell 2K [+1.0%] Futures are ticking higher in today’s premarket but only by a thin margin. S&P 500 contracts are up 0.2%. What to Watch Today: No major economic releases are on today’s schedule, so earnings will likely drive today’s trading action. Stocks ended last week on a high note, but unresolved concerns about stubborn inflation and higher-for-longer rates is beginning to erode sentiment. We could see another week of choppy trading action as a result. [Jeff Bezos’ Trillion-Dollar Stock Pick]( Jeff Bezos has been quietly investing in a company for the last two years… Located just 30 miles from Baltimore, Maryland… This company is ground zero — Of a massive technology revolution that’s going to re-write every aspect of the American economy… Whether it’s medicine, finance…logistics…and farming Will all be rocked by this coming technology… And before you start guessing… this has nothing to do with A.I. or ChatGPT… This technology is going to be far more disruptive. [Get the Details & See Why It Could Be 2024’s Top Pick]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 ⚡️Earnings and Economic Events to Watch This Week This week is brimming with important corporate earnings and significant economic reports, marking a potentially market-moving period. High-profile companies such as Apple and Amazon are set to report their earnings, while key economic data, including the monthly jobs report, will provide insights into the broader economic landscape. Monday's Kickoff 🗓️ The week starts with earnings from MicroStrategy and Paramount Global. Internationally, the spotlight is on China with the release of the purchasing managers index for manufacturing, offering clues about the health of the manufacturing sector in one of the world's largest economies. Tuesday 🏢 Tuesday promises a busy morning with earnings reports from Coca-Cola, Eli Lilly, and McDonald's. The focus shifts to tech and retail in the evening with anticipated earnings from Amazon.com and Starbucks. On the economic front, April’s consumer confidence index will help gauge the mood of U.S. consumers amidst ongoing economic uncertainties. Midweek Updates 📉 Wednesday heats up with earnings from ADP, CVS Health, Mastercard, and Pfizer, with Qualcomm rounding out the afternoon. Economically, the day is packed with the ADP employment report, the ISM manufacturing index, and notably, the Federal Reserve’s interest rate decision—a pivotal event that could influence market directions based on monetary policy signals. Approaching the Weekend 📅 Thursday sees ConocoPhillips and Novo Nordisk report their earnings, with tech giant Apple revealing its results after the market closes. The economic agenda features weekly jobless claims, providing ongoing insights into the employment landscape. Wrapping Up 📈 Friday concludes the week with Hershey’s earnings. The economic highlight will be April's nonfarm payrolls report, followed by the ISM services PMI. These reports are crucial as they offer a comprehensive look at employment and services sector activity, key indicators of economic health. Looking Ahead 🚀 Investors and analysts alike will be keenly watching this blend of corporate earnings and economic data to better understand market trends and economic trajectories. Particularly, the Federal Reserve's decisions on interest rates mid-week could set the tone for market expectations regarding inflation, growth, and future monetary policy. Featured Earnings 💰️ - ON Semiconductor [ON] ... AM - Domino's Pizza [DPZ] ... AM - NXP Semiconductors [NXPI] ... PM - Welltower [WELL] ... PM - Arch Capital Group [ACGL] ... PM - SBA Communications [SBAC] ... PM - MicroStrategy [MSTR] ... PM - Yum China Holdings [YUMC] ... PM - Everest Group [EG] ... PM - Sun Communities [SUI] ... PM Economy 🏗 - None scheduled Running Hot 🔥 Gainers - Inno Holdings [INHD] >> +47.0% - Akanda Corp [AKAN] >> +24.8% - Arqit Quantum [ARQQ] >> +22.7% Decliners - Clever Leaves [CLVR] >> (60.4%) - Addex Therapeutics [ADXN] >> (52.2%) - iSun [ISUN] >> (17.2%) Tesla [TSLA] - Last Close: $168.29 Share of Tesla are rallying after news broke that CEO Elon Musk made a surprise trip to China. Musk has reportedly succeeded in getting approval for rolling out full-self driving in China. Musk himself tweeted about the meeting on his X account. TSLA is up 11.9% in the premarket on over 9 million shares traded. My Take: TSLA has been very choppy lately but the stock just shook off a steep pullback, and its trading volume has spiked in recent days. Its downtrend may be finally bottoming out. Decipher Pharma [DCPH] - Last Close: $14.65 The U.S. drugmaker has agreed to be acquired by Japan’s Ono Pharmaceutical [OPHLF] in an all-cash deal worth $2.4 billion. Under the terms of the deal, Deciper shareholders willl get $25.60 per share, marking a 74% premium over its Friday close. DCPH is up 70.9% in early trading, and its premarket trading volume is currently sitting at just over 10 million shares. My Take: DCPH has already closed the premium gap, so I don’t see a lot of reason to chase this one. Royal Phillips [PHG] - Last Close: $21.07 Strong earnings & the resolution of a long-standing legal dispute are rallying shares of Royal Phillips in today’s premarket. Earnings of EU$0.26 per share were up from EU$0.21 a year ago. However, revenues of EU$4.14 billion fell shy of the EU$4.19 billion estimate. Royal Phillips also announced a $1.1 billion settlement in a U.S. class-action lawsuit over its Respironics devices. PHG is up 39.3% on over 1 million shares traded. My Take: PHG is getting a big boost from resolving its lawsuit, but the move seems a little exaggerated considering this is a mid-cap stock. I advise caution here. ZyVersa Therapeutics [ZVSA] - Last Close: $4.99 ZyVersa Therapeutics is getting a boost thanks to a recently published peer-reviewed article whose findings favor one of its key drug candidates. A paper published in Frontiers in Molecular Neuroscience showed how Alzheimer’s disease can trigger inflammation in the heart. ZyVersa said the findings bode well for its ASC Inhibitor IC 100, which is designed to alleve cardiac-related comorbidities in Alzheimer's patients. ZVSA is up 40.7% on over 1 million shares traded. My Take: This new research is favorable for ZVSA’s drug candidate, and anything Alzheimer’s-related is usually enough to get the market’s attention. 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. 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. [Privacy Policy]( | [Terms of Service]( Update your email preferences or unsubscribe [here]( © 2024 Elite Trade Media LLC 1969 Alafaya Tr., Suite #247 Orlando, Florida 32828, United States of America [[beehiiv logo]Powered by beehiiv](