US-China Tension Could Send this Stock Soaring 🚀

Don't miss these red-hot stocks... [Image](www.elitetrade.club) Good Morning! Hey, guys and gals. It's Chris from Elite Trade Club, here to give you the day's premarket trading news. Today is Thursday, August 4th. Let's get ready to trade! Markets 📈 The S&P 500 added 1.6% on Wednesday, while the Nasdaq gained 2.6%. The Dow advanced 1.3%, and the small-cap Russell 2K rallied 1.4%. Today, futures are edging higher ahead of today's opening bell. S&P 500 futures are up 0.3% in early morning trading. Sponsored [US-China Tension Could Send this Stock Soaring 🚀]( Right now, China has the US Military in a stranglehold. They hold a monopoly on one of our most CRITICAL defense elements. But thanks to executive orders from both Biden and Trump... China's Monopoly Is about to crumble, and create a potential boom For investors [Get the Details on This Top-Rated Stock Here]( Premarket Highlights 🔎 - S&P 500 companies' capital spending outpaces stock repurchases for the first time since Q1 2021. - The Bank of England instituted a 0.5% rate hike, marking its largest single-step interest rate hike since 1995. - Walmart cut roughly 200 corporate jobs from its payrolls after warning about profit troubles last week. What to Watch Today 👀 Jobless Claims Today's jobless claims data will show how the labor market is responding to falling gas prices and improving market conditions. Consensus estimates expect 260,000 new jobless claims for last week, marking an increase from the previous week's 256,000 initial claims. A surprise beat could give stocks a boost today. International 🌍 Asia Hong Kong's Hang Seng Composite rallied 2.1% overnight , and China's Shanghai Composite gained 0.8%. Japan's Nikkei 225 climbed 0.7%. Europe Germany's DAX gained 1.2% so far, and the British FTSE 100 is showing a 0.5% gain. France's CAC 40 is up 1.1%, and the Euro Stoxx 600 is holding onto a 0.6% gain. Major Earnings 💰 - Eli Lilly [LLY] ... AM - Alibaba [BABA] ... AM - ConocoPhillips [COP] ... AM - Cigna [CI] ... AM - Zoetis [ZTS] ... AM - Duke Energy [DUK] ... AM - Becton, Dickinson and Company [BDX] ... AM - Amgen [AMGN] ... PM - Vertex Pharmaceuticals [VRTX] ... PM - EOG Resources [ EOG] ... PM Economy 🏗 - Jobless Claims [Wkly.] ... 8:30a - Trade Deficit [Jun] ... 8:30a Running Hot 🔥 Gainers - Missfresh Ltd [MF] >> +78.1% - InVivo Therapeutics [NVIV] >> +100.5% - Exicure Inc [XCUR] >> +39.2% Decliners - Helius Medical A [HSDT] >> (31.7%) - Heart Test Laboratories [HSCS] >> (20.7%) - Olaplex Holdings [OLPX] >> (22.3%) MercadoLibre [MELI] - Last Close: $890.87 A strong quarterly report is lifting shared of MercadoLibre. The Latine American eCommerce giant reported strong revenue growth that beat analyst estimates for earnings and revenues. MercadoLibre earned $2.43 per share on $2.6 billion in revenues, beating the Street's target of $1.96 EPS on $2.5 billion in revenues. Unique active users increase to 84 million from 76 million a year ago, and the company grew its revenues 52.5% year-over-year. MELI is today's top S&P 500 stock with a 12.2% gain on active trading volume. Our Take: It wasn't too long ago MELI was trading for $2k/share. However, even at a much lower price, the stock is still expensive with a P/E of 243.8. MELI has potential, but it's unclear how the market's struggles will impact its valuation. GreenLight Biosciences [GRNA] - Last Close: $3.26 GreenLight Bio is surging on a new company update. The biotech firm and Samsung Biologics completed their first commercial-scale engineering under their previously-announced mRNA production partnership. GreenLight also said it expects to kick off its COVID-19 booster vaccine trial this year, while still producing mRNA vaccines at a commercial scale. A second engineering run will begin this month to apply improvements and demonstrate repeatability at scale, according to a statement from the companies. GRNA is up 103.7% on the news. Our Take: The press release announcing this story came out on Monday, so the catalyst for today's breakout is not 100% clear. However, the stock has been posting steady gains ever since the news broke, and it seems investors are expecting big things from this partnership. Yellow Corp [YELL] - Last Close: $4.71 Yellow is breaking out after a strong quarterly report. On Wednesday evening, the logistics and transportation company reported Q2 earnings and revenues that beat analysts' expectations by a wide margin. Yellow reported earnings of $1.15 per diluted share, crushing the Street's $0.38 EPS forecast. Revenues of $1.42 billion also easily topped the consensus estimate of $1.38 billion. The double-line beat is lifting YELL to a 30.6% gain in today's premarket. Our Take: Yellow put up solid Q2 numbers, but a tight labor market and record-high fuel costs are hitting the trucking and transportation industry hard. Yellow might not be feeling the heat just yet, but that could change very quickly. Syros Pharmaceuticals [SYRS] - Last Close: $0.8792 Syros is soaring on the heels of an upbeat clinical update. The biopharma firm announced Wednesday evening that it had received a positive opinion on an orphan drug designation (ODD) from the European Medicines Agency (EMA). The EMA issued its opinion in response to Syros' ODD application for tamibarotene for the treatment of myelodysplastic syndrome (MDS). The US FDA already granted Syros' request for an ODD for tamibarotene for MDS back in February. Syros said it expects pivotal data from its ongoing SELECT-MDS-1 Phase 3 to come in late 2023 or early 2024. The ODD gives Syros access to financial and regulatory incentives, including a 10--year market exclusivity, and much more. SYRS is up 18.3% on the news. Our Take: It sounds like this stock is in good shape for an approval down the road. However, with the deciding data release still more than a year away, it might take quite some time for this trade to play out in your favor. Invite Your Friends to Join Elite Trade Club and [Start Earning Valuable Rewards Now!](elitetrade.club/referral/?email={EMAIL}) [Image](elitetrade.club/referral/?email={EMAIL}) That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris -- Elite Trade Club P.S... Want alerts delivered straight to your cell every morning for free?* Text ELITE to 47121 or [click here]( to sign up now and get our watchlists sent directly to your phone! *Standard message/carrier rates may apply. 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