Futures push higher ahead of Oct. Jobs Report 📈

Biotech is leading today's premarket gainers. Get a full report on all 4 top stocks inside [Image](www.elitetrade.club) Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Friday! It's November 4th. Let's get ready to trade! Markets 📈 Stocks extended their recent bout of declines on Thursday. The S&P 500 lost 1.0%, and the Dow fell 0.4%. The Nasdaq was the worst performer, with a 1.7% decline, and the small-cap Russell 2K slid to a 0.5% loss. Today, futures are on the rise ahead of today's October jobs report. S&P 500 contracts are currently carrying a 0.8% gain. Sponsored [“How I Hit 626 Winners Out of 647 Closed Trades”]( He's got a higher win rate than Buffett, Icahn, and Cuban... but you've likely never heard of his name Today's stock market is shattering the retirement dreams of millions. But not for this gentleman. For nearly a decade now, he's been helping investors navigate whatever curveball the market throws at us… In fact, with his simple system… he's not just surviving this market… he's thriving in it. He's got a higher win rate than Warren Buffett, Carl Icahn, and Mark Cuban. And he has a message that could help you dramatically improve your trading outcomes. [Get a Full Briefing Here]( Premarket Highlights 🔎 - China Considers COVID Rollback: A transcript circulating on social media sparked rumors that China is considering loosening its ultra-strict Zero COVID policy, and the news set off a big rally in Hong Kong stocks. What to Watch Today 👀 Jobs Report The October jobs report will likely set the tone for today's session. However, we're more likely to see a rally if the numbers are unexpectedly bad. Investors are still hoping that worsening economic data will give the Fed reason to end its rate hike campaign early. Unfortunately, that's most likely wishful thinking because rate hikes probably won't end any time soon. Nonetheless, I wouldn't be surprised if the market turned lower at the open if we get a stronger-than-expected report. International 🌍 Asia China led Asia's major markets overnight, with the Hang Seng Composite skyrocketing to a 5.3% gain and the Shanghai Composite rallying 2.4% Europe Europe is pushing higher midway through its trading session. France's CAC 40 is up 2.0%, and the German DAX is showing a 1.5% gain. The Euro Stoxx 600 has advanced 1.3% on the trading day. Major Earnings 💰 Duke Energy Corporation (Holding Company) [DUK] ... AM Dominion Energy, Inc. [D] ... AM The Hershey Company [HSY] ... AM Cardinal Health, Inc. [CAH] ... AM Ppl Corporation [PPL] ... AM W. P. Carey Inc. [WPC] ... AM Evergy, Inc. [EVRG] ... AM Cboe Global Markets, Inc. [CBOE] ... AM Blue Owl Capital Inc. [OWL] ... AM Liberty Broadband Corporation [LBRDA] ... AM Economy 🏗 - Nonfarm payrolls (level change) [Oct] ... 8:30a - Unemployment rate [Oct] ... 8:30a - Average hourly earnings [Oct] ... 8:30a - Labor-force participation rate, ages 25-54 [Oct] ... 8:30a Running Hot 🔥 Gainers - Sentage Holdings [SNTG] >> +71.7% - TransMedics [TMDX] >> +19.6% - Fangdd Network [DUO] >> +26.7% Decliners - Funko Inc [FNKO] >> (41.0%) - Twilio [TWLO] >> (24.2%) - Copart Inc [CPRT] >> (48.9%) Microchip Technology Inc [MCHP] - Last Close: $59.46 A strong quarterly report is lifting shares of Microchip Tech today. The semiconductor stock posted record-breaking results on its fiscal Q2 earnings report Thursday evening, and shares are rallying in response. Microchip Tech posted non-GAAP EPS of $1.46 on revenues of $2.073 billion. The figures beat the consensus estimate of $1.44 on revenues of $2.06 billion. The board also declared a record quarterly cash dividend of $0.328 per share for holders of its common stock. MCHP is leading the S&P 500 with a 9.4% gain. My Take: MCHP is in a down-trend, and share prices have been volatile this year. However, it looks like a decent value at this point, and this breakout report could be a pivot point for the stock. BioAtla Inc [BCAB] - Last Close: $6.63 BioAtla is taking off after an earnings report that included updates on several key drugs. The clinical-stage biopharma firm announced its Q3 results on Thursday evening, and the report included updates on several key drug candidates. BA3071 is progressing through a Phase 1 study. So far, the first two cohorts have been completed without dose-limiting toxicities or serious adverse events reported. Enrollment in part two of a Phase 2 trial of BA3011 for undifferentiated pleomorphic sarcoma is expected to begin by year-end. Mecbotamab vedotin (BA3011) Phase 2 part 1 interim results in NSCLC continue to show antitumor activity with additional patients enrolled. BCAB is trading actively with a 46.2% gain. My Take: I'm not sure which piece of information sparked this rally, but Thursday's earnings report was clearly the catalyst. The drug updates likely played a bigger factor in the run-up than the financial portion of the report. Cutera Inc [CUTR] - Last Close: $41.32 Strong quarterly earnings sent shares of Cutera rallying this morning. The dermatology-focused medical device firm released its Q3 2022 financial results, and the numbers were unexpectedly strong. Cutera posted a thinner-than-expected loss of -$(0.24) per share. Analysts had expected a -$(0.30) per share loss for the company. Revenues came in at $62.81 million for the quarter, marking a 9.0% growth rate from the previous year, and beat the consensus by a tiny margin. The news rallied CUTR to a 33.1% gain in today's premarket. My Take: CUTR could find support at the $44 mark if it can hold onto its gains. The stock has been very volatile over the past three months, but there is significant upside on the table if it can return to its previous highs. Xpeng Inc [XPEV] - Last Close: $6.86 Xpeng is moving higher after completing a public listing. The Chinese smart vehicle manufacturer issued of US$133.5 million worth of automobile leasing carbon-neutral asset-backed securities (ABS) on the Shanghai Stock Exchange. The company also listed carbon ABS securities on the Shenzen Stock Exchange in last March. Xpeng's Shanghai-listed ABS produced a coupon rate of 2.8%, a record-low for automobile leasing ABS among Chinese automakers. The issued ABS in the senior A tranche with a debt rating of AAA have a coupon rate of 2.80%. The issued ABS in the senior B tranche with a debt rating of AA+ have a coupon rate of 3.00% News of the issuance fueled a 17.5% rally, and XPEV is one of this morning's highest-volume movers. My Take: XPEV is locked into a pronounced long-term downtrend, but the slide is showing some signs of bottoming out. Chinese stocks can be extremely volatile, but this could be an interesting EV trade if you have the nerve to ride out a potentially wild ride. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... If you're on the hunt for a new broker, check out our preferred partner, moomoo! You can [get 15 free stocks]( worth up to $2,000 each if you join the moomoo App now. [Click here to get started.]( P.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! Or text CLOSE to 47121 to get on the mobile alert list for our Closing Bell Roundup report, featuring the day's top winners and losers. *Standard message/carrier rates may apply. 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