Futures rise ahead of holiday return 📈

Stocks are on pace to open higher after being closed yesterday.                                                                                                                                                                                                                                                                                                                                                                                                                 June 20, 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 were closed on Wednesday for Juneteenth. On Tuesday, we saw U.S. indexes notch minor gains as they continued to hold in a narrow trading range. - Dow [+0.1%] - S&P 500 [+0.2%] - Nasdaq [<0.1%] - Russell 2K [+0.1%] Index futures are edging higher in early trading. S&P 500 contracts are up by 0.4%. What to Watch Today: The latest jobless claims report could provide some valuable insights into the state of the labor market. We’ll also get some valuable housing market data in the form of housing starts and building permits this morning. [The #1 Play for Record-High Uranium Prices]( This overlooked company could be in an ideal position to capitalize on the booming uranium market. It’s strategically situated in the industry, and its portfolio boasts some of the most promising projects available. With no end to the Uranium boom in site, this stock could be on course for breakout growth that could send shares soaring. [Get a Full Briefing on this Promising Stock HERE »]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 Mortgage Demand Flattens Despite Lower Interest Rates 🏠Mortgage demand remained flat even as the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 6.94% from 7.02%, the lowest level since March. Total mortgage application volume rose just 0.9% compared to the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Purchases & Refinances 📉 Mortgage applications to purchase a home increased by 2% for the week but were still 12% lower than the same week last year. Refinance demand, typically sensitive to rate changes, dropped 0.4% for the week but was 30% higher than the same week a year ago. Overall, home sales have slowed amid volatile interest rates and a lean, pricey supply of homes for sale. Impact of Economic Data 📊 Mortgage rates initially increased at the start of the week but then fell on Tuesday following weaker-than-expected retail sales data. “Mortgage rates dropped last week following the latest inflation data and the FOMC meeting,” said Mike Fratantoni, MBA’s SVP and chief economist. Future Outlook 🔮 The Mortgage Bankers Association forecasts a pickup in home sales for the remainder of the year as more inventory enters the market, despite purchase volume still trailing more than 10% behind last year’s pace. Matthew Graham, COO at Mortgage News Daily, noted that recent economic data has painted a less optimistic picture for the American consumer compared to a few months ago, influencing mortgage rate movements. Featured Earnings 💰️ - Accenture [ACN] ... AM - Kroger [KR] ... AM - Darden Restaurants [DRI] ... AM - Jabil [JBL] ... AM - Commercial Metals Company [CMC] ... AM - GMS [GMS] ... AM - Winnebago Industries [WGO] ... AM - Tsakos Energy Navigation [TNP] ... AM - Algoma Steel Group [ASTL] ... PM - Smith & Wesson Brands [SWBI] ... PM Economy 🏗 - Initial jobless claims [Jun] ... 8:30a - U.S. current account [Q2] ... 8:30a - Housing starts [May] ... 8:30a - Building permits [May] ... 8:30a - Philadelphia Fed manufacturing survey [Jun] ... 8:30a Running Hot 🔥 Gainers - SMX [SMX] >> +67.5% - Presto Automation [PRST] >> +18.2% - Denali Capital [DECA] >> +19.0% Decliners - NLS Pharm [NLSP] >> (26.3%) - Mustang Bio [MBIO] >> (12.9%) - 908 Devices [MASS] >> (17.8%) Harlow Health [HROW] - Last Close: $17.65 Harlow Health is climbing after providing an update on its TRIESENCE relaunch. The company said it has completed successful manufacture of TRIESENCE PPQ batch. If the batch meets specification, the new production process will be deemed complete. HROW is up 13.9% on news but volume is light at less than 50K shares traded. My Take: HROW had made big gains lately, and if more good news comes from this project, it could throw more fuel on the fire. Trevena [TRVN] - Last Close: $0.3544 Trevena just announced promising preclinical data on the analgesic effects of TRV045, a novel receptor modulator. Studies found the drug showed potential for sustained, long-term analgesic effect and demonstrated statistically significant potential for seizure prevention. TRVN is a top mover with a 41.6% gain on over 5 million shares traded. My Take: TRVN could find new support at the 60-cent mark if it can hold on. Griid Infrastructure [GRDI] - Last Close: $0.56 Griid Infrastructure is rebounding after selling off on Tuesday. Last week, the company received notice from Nasdaq that its common stock was not in compliance. Shares drew down for several days on the news but are rebounding sharply today. GRDI is up 105% on over 10 million shares traded. My Take: GRDI has been on a wild ride the past few days, and I suspect the volatility isn’t over yet. Tempest Therapeutics [TPST] - Last Close: $2.85 New data from a randomized combo study of TPST-1120, or Amezalpat, is rallying shares of Tempest Therapeutics. The company said the drug improved all efficacy endpoints vs SoC control in a first-line hepatocellular carcinoma. TPST is up 47.0% on more than 7 million shares traded. My Take: TPST only put out a limited statement on the findings so far, but the market seems to be reacting very positively to the news. 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]( *Alternative investments are speculative and possess a high level of risk. 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