[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 February 17th. I hope you have a great weekend. Let's get ready to trade! Markets ð US benchmarks swung lower on Thursday after January PPI data showed inflation remain stubborn. The Nasdaq lost 1.7%, and the S&P 500 fell 1.3%. The Dow was down 1.3%, and the small-cap Russell 2K declined 0.9%. Futures are pointing to more losses at the opening bell. S&P 500 contracts are down 0.7% in early-morning trading. Sponsored [Less than Five Bucks...]( Did you know... low-priced, or "penny," stocks offer a great way to make money regardless of the direction of the markets as a whole. And these top 4 penny stocks are poised to soar... The best part is they're trading for $5 a share or less. . [Click Here for the Names & Ticker Symbols.]( Premarket Highlights ð ð¸ January PPI. Yesterday's January PPI report showed YoY inflation of 6.0%. The number was higher than some economists had hoped. Combined with a better-than-expected unemployment report, it was enough to send the market lower on Thursday. What to Watch Today ð Fed in Focus
Richmond Fed Pres. Barking speaks at 8:30 a.m., and Fed Gov. Bowman speaks at 8:45 a.m.. Investors will be listening closely for hints about interest rate policy, and any hawkish comments could rattle the market. After yesterday's PPI and jobless claim data, sentiment is souring on the increasingly likely prospect of many more rate hikes in the future. Major Earnings ð° Deere & Company [DE] ... AM
Ppl Corporation [PPL] ... AM
Centerpoint Energy, Inc (Holding Co) [CNP] ... AM
Liberty Broadband Corporation [LBRDA] ... AM
Corebridge Financial Inc. [CRBG] ...AM
Autonation, Inc. [AN] ... AM
Arbor Realty Trust Reit [ABR] ... AM
Barnes Group, Inc. [B] ... AM
Marcus & Millichap, Inc. [MMI] ... AM
Pediatrix Medical Group, Inc. [MD] ... AM Economy ð - Import Price Index [Jan] ... 8:30a
- Leading Economic Indicators [Jan] ... 10a Running Hot ð¥ Gainers
- Trilogy Metals [TMQ] >> +19.6%
- Incannex Healthcare [IXHL] >> +14.5%
- Sentage Holdings [SNTG] >> +15.5% Decliners
- Trxade Group [MEDS] >> (18.0%)
- XP [XP] >> (11.0%)
- Volitionrx [VNRX] >> (16.6%) HubSpot [HUBS] - Last Close: $361.93 HubSpot's latest earnings report is boosting its shares today. The cloud-based CRM company reported its Q4 earnings after Thursday's closing bell, and the results were better than expected. HubSpot's earnings nearly doubled from the year-earlier quarter to $1.11 per diluted share, which easily beat the Street's $0.82 EPS estimate. Revenues of $469.7 million also topped last year's number and beat the consensus estimate of $446 million. HubSpot also posted full-year 2023 non-GAAP EPS guidance that was more than double the Street's expectation. HUBS is one of today's top movers with an 11.9% gain. My Take: HUBS has been locked into a sideways pattern lately, but today's rally could help it breakthrough. This stock looks promising. Universal Security Instruments [UUU] - Last Close: $2.20 A strong earnings report is lifting shares of Universal Security today. The security device company reported its fiscal Q3 results late Thursday, and shares began to climb following the release. Universal reported EPS of $0.15 for the quarter, marking a YoY increase of 650%. Revenues grew 8.27% to $5.76 million for the quarter. Consensus estimates weren't available for this tiny stock, but shares are moving high on the Universal's impressive YoY revenue and earnings growth. UUU is riding an 11.5% gain in the wake of the strong earnings report. My Take: UUU is a very tiny, low-float stock, but it's beginning to exhibit some positive trends. In 2022, this stock traded for $4 per share, so there could be significant upside if it can maintain its momentum. Nogin [NOGN] - Last Close: $0.6111 Nogin just announced a new deal, and its shares are trending. The eCommerce company announced an agreement with Seychelles Imports, owner of two LA-based footwear brands, Seychelles and BC Footwear. Under the terms of the deal, Seychelles will plug into Nogin's Intelligent Commerce platform and utilize many other proprietary services. Financial details of the agreement weren't disclosed, but the stock is making big gains on the news. NOGN is up 42.6% on active premarket trading volume. My Take: This rally is already running out of steam. Shares were up as high as 77% earlier, so NOGN might already be on its way back to Earth. iBio [IBIO] - Last Close: $0.7502 iBio is skyrocketing in the premarket after a regulatory filing. The biotech firm filed its Form 8-K after yesterday's close, and share prices are soaring in the premarket. iBio's 8-K included an announcement that the company would receive a minimum of $2.1 million from auctioning equipment from one of its facilities. Also last night, the company announced its oncology research will begin targeting a protein often found in ovarian tumors called MUC16. It's unclear which news sparked this morning's big rally, but IBIO is up 131.9% on active trading volume in the premarket. My Take: This could be a short squeeze. IBIO had a 12.18% short percentage as of Jan. 31st, and this news doesn't seem like enough to justify such a big move. 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. 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 of these emails. 1969 S. ALAFAYA TRAIL
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