Futures Rise Ahead of Jan. CPI Report 📈

[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. Today is Tuesday, February 14th. Happy Valentine's Day! 💘 Don't forget to do something nice for your significant other, so you don't end up in the dog house! Let's get ready to trade! Markets 📈 US benchmarks rallied on Monday with the S&P 500, Dow, and Russell 2K notching gains of 1.1%. The Nasdaq outperformed with a 1.4% rally, while 10-year Treasury bond yields fell by 15 basis points. This morning, index futures are edging higher ahead of this morning's CPI report. S&P 500 contracts are currently up about 0.2%. Sponsored ["TAKE THAT, CHINA!" USA Gains in EV Battery Arms Race]( Did you know each electric car battery requires 220 pounds of graphite - more than lithium, copper, or aluminum? China enjoyed a "near monopoly" in this vital ingredient... until the U.S. made a blockbuster announcement. Now one little-known company is set to play a crucial role in the booming $7 trillion EV revolution. And, its share prices could skyrocket if it can deliver on expectations. [Get the Full Story on this High-Powered Growth Opportunity]( Premarket Highlights 🔎 ⚪ None What to Watch Today 👀 Inflation in Focus Investors are eagerly awaiting today's January CPI report at 8:30 a.m., and the report will likely set the tone for the trading session. Economists expect inflation grew at a 6.2% annual rate in January. If the actual number comes in lower, the market will likely respond well. However, if inflation increases past the previous month's 6.5% figure, I expect to see a very negative reaction in today's session. Major Earnings 💰 The Coca-Cola Company [KO] ... AM Zoetis Inc. [ZTS] ... AM Marriott International [MAR] ... AM Ecolab Inc. [ECL] ... AM Exelon Corporation [EXC] ... AM Globalfoundries Inc. [GFS] ... AM Restaurant Brands International Inc. [QSR] ... AM Airbnb, Inc. [ABNB] ... PM Devon Energy Corporation [DVN] ... PM Eversource Energy (D/B/A) [ES] ... PM Economy 🏗 - NFIB small-business index [Jan] ... 6a - Consumer price index [Jan] ... 8:30a Running Hot 🔥 Gainers - Rubius Therapeutics [RUBY] >> +26.3% - Oragenics [OGEN] >> +31.3% - Blue Water Vaccine [BWV] >> +21.3% Decliners - Inhibikase [IKT] >> (30.2%) - Outset Medical [OM] >> (12.3%) - T2 Biosystems [TTOO] >> (15.0%) Cadence Design Systems [CDNS] - Last Close: $185.70 A strong earnings report is lifting shares of Cadence Design. The integrated circuit designer reported better-than-expected results on its Q4 earnings report early this morning. Cadence Design generated diluted EPS of $0.96 on revenues of $889.9 million in the fourth quarter. The figures easily beat the consensus estimates, which called for EPS of $0.92 on revenues of $884.2 million. Cadence's fiscal year 2023 guidance also topped the Street's expectations, and numerous analysts hiked their price targets in response to the strong quarter. CDNS is currently sitting at the top of the S&P 500 with a 4.4% gain. My Take: CDNS is facing stiff resistance at $194 per share. If this rally can push it past that price point, it could continue its positive trend and set new highs. Palantir [PLTR] - Last Close: $7.61 Palantir is surging after reporting a profitable quarter. The mysterious software company announced its Q4 earnings this morning, and it posted a surprise profit thanks to drastic reductions in spending. Palantir reported GAAP earnings of $0.01 per share. It was the first time the company has ever reported a quarter of GAAP profitability. Revenues came in at $508.6 million and topped the consensus forecast of $505 million by a slim margin. Palantir's guidance fell in line or below the Street's estimates, but the company promised to "exercise spend discipline" and remain profitable for 2023. PLTR is one of today's top premarket performers with a 19.0% gain. My Take: PLTR is currently on pace to break past resistance at $9 per share by a narrow margin. It could find new support at this level if it can hold onto its gains through today's trading session. Fusion Pharmaceuticals [FUSN] - Last Close: $3.62 Fusion Pharma just landed a major acquisition. The Canadian oncology company announced the acquisition of an investigational new drug application for an ongoing Phase 2 trial after Monday's closing bell. The trial is studying 225Ac-PSMA I&T to treat prostate cancer, and the Fusion says it has an "established proof of concept." Fusion also said the acquisition will strengthen its "innovative targeted alpha therapies" product pipeline. The company says it plans to expand the trial to additional sites, and it intends to deliver data on 20 to 30 patients in Q1 of 2024. Fusion also announced a private placement of 17.6 million shares to institutional investors for a $60 million gross proceed in connection with the deal. News of the drug acquisition sent shares of FUSN to a 20.9% gain in today's premarket. My Take: FUSN has a positive trend line, and the market clearly believes this is a promising acquisition. This tiny pharma stock could have a bright future if it continues along its current arc. Acer Therapeutics [ACER] - Last Close: $2.16 Acer Therapeutics is moving higher on a clinical update. On Monday morning, the pharma firm announced it had reached full enrollment for a Phase 2a trial of ACER-801 to treat menopause symptoms. Acer said it expects to report topline data from the proof-of-concept trial sometime in the middle of next month. Trial results could determine ACER-801 dosing and a development path forward for patients with induced Vasomotor Symptoms stemming from menopause. The news broke before Monday's open, and ACER gained 3.3% on the trading day. But, it began to break out after the closing bell. ACER is up 18.5% in this morning's premarket trading session. My Take: There could be some market manipulation afoot here. The market had a tepid reaction to this news when it first broke, and I'm not sure why the rally suddenly accelerated this morning. ACER has a short percentage of 3.85%. 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. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. 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