Futures Sell-Off Ahead of Opening Bell 📉

[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 March 24th. I hope you have a great weekend! Now, let's get ready to trade! Markets 📈 Stocks notched modest gains on Thursday, but major indexes closed well below their intraday highs. The Nasdaq led the way with a 1.0% rally, while the S&P 500 added 0.3% and the Dow gained just 0.2%. The small-cap Russell 2K fell 0.4%. Today, futures are reversing course and selling off in the premarket. S&P 500 contracts are down 0.9% in early-morning trading. Sponsored [Watch These 4 Penny Stocks...]( Small cap stocks - and penny stocks in particular - tend to march to the beat of their own drummer. Low-priced, "penny," stocks like these can perform well in any kind of market, regardless of the prevailing markets trends... [Click here to get the names & ticker symbols of all four penny stocks.]( Premarket Highlights 🔎 📉 Global Sell Off The market is off to an ugly start this morning. Germany's DAX and the French CAC 40 are both down 2.5%, and US index futures are down big. There have also been large overnight drawdowns in crude oil prices, with WTI crude contracts down 4.2%. The declines come after several leading central banks, including the Federal Reserve and Bank of England, announced rate hikes this week. Investor sentiment towards the banking sector also remains poor, and regional bank stocks are once again leading today's route. What to Watch Today 👀 Bond Market US Treasury bonds are up significantly over the past few weeks. Yields on the 10-year Treasury are currently hovering around 3.321% after falling 0.101% overnight. The run-up in bond prices is a clear indicator that investors have their doubts about the outlook for the equity market. Wednesday's rate increase may also be fueling demand bonds. The more money goes into the bond market, the less demand their is for equities. Typically, when bonds begin to perform well, it's a sign that investors are favoring risk-off assets. If the bond yields continue to fall, it could be a troubling sign for the stock market. Major Earnings 💰 Humacyte, Inc. [HUMA] ... AM Sunlands Technology Group Dr [STG] ... AM Express, Inc. [EXPR] ... AM Impel Pharmaceuticals Inc. [IMPL] ... AM American Shared Hospital Services [AMS] ... AM Jaguar Health, Inc. [JAGX] ... AM Ideanomics, Inc. [IDEX] ... PM Motorsport Games Inc. [MSGM] ... PM Economy 🏗 - Durable goods [Feb] ... 8:30a - S&P Global flash U.S. services PMI [Mar] ... 9:45a - S&P Global flash U.S. manufacturing PMI [Mar] ... 9:45a Running Hot 🔥 Gainers - Troika Media [TRKA] >> +22.1% - BioLineRx [BLRX] >> +25.9% - Integra Resources [ITRG] >> +23.6% Decliners - BG Staffing [BGSF] >> (20.3%) - Allovir [ALVR] >> (25.0%) - Scholastic [SCHL] >> (12.9%) Dermata Therapeutics [DRMA] - Last Close: $1.68 Dermata Therapeutics is running hot on news of an analyst upgrade. The clinical-stage biotech rallied yesterday after Maxim Group reiterated its "buy" rating on the stock in an analyst note. Maxim Group analyst Anthony Vendetti authored the note, and lowered his price target on the stock to $4 from his previous $16 target. Earlier in the week, the stock set a new low after news of a $5 million stock and warrants offering hit the market. However, DRMA is rebounding on the heels of the analyst note. Shares jumped 25.3% on Thursday, and they're up another 26.7% in today's premarket. My Take: Maxim Group reduced its price target by a whopping 75%, but the market seems to be more focused on the reiterated "buy" rating. Shares are rebounding after setting a new 52-week low earlier in the week. Zivo Bioscience [ZIVO] - Last Close: $2.535 Zivo Bioscience is rebounding after a steep sell off. The bioactive ingredients R&D firm filed a Form S-1 after Wednesday's close announcing a registered offering of its shares and warrant. According to the filing, Zivo is offering 4.76 million units consisting of one share of common stock and one warrant to purchase common stock for $3.15 apiece. Shares of ZIVO plummeted at Thursday's open, and the stock closed the session with a 19.7% loss. However, it's battling back in today's premarket. Shares are up 24.6%, and the stock has erased its Thursday losses. My Take: This move is a bit odd, too. The offering could be a bad sign for Zivo's financial health, and it will dilute shareholder value. We know the bulls are buying, but it's not easy to see why. Bird Global [BRDS] - Last Close: $0.1418 Reports on insider buying are boosting shares of Bird Global. A recent Form 4 filing showed the micro-mobility firm's chief financial officer, Michael Washinushi, acquired 80,000 shares at $0.128 apiece on Mar. 22nd. The purchase brings Washinushi's total direct holdings to 4.4 million shares, which gives him control over 1.37% of the company. Yesterday, the company also announced new plans to launch e-scooters operations in Southern Ontario as soon as April. BRDS is the actively-traded stock in today's premarket, and it's a top performer with a 35.0% gain. My Take: BRDS is trading near its 52-week low, but share prices have trended higher over the past few days. The CFO's insider buying is particularly encouraging, and the bulls are swooping in to follow his lead. Focus Universal [FCUV] - Last Close: $2.9467 Focus Universal is moving higher in anticipation of a dividend. Earlier this week, the company announced it will pay a special 50% common stock dividend to its shareholders. The stock is supposed to start trading on a post-stock dividend basis starting in today's session. The company said its share float will grow to 64.76 million after the dividend is paid out. FCUV is moving higher ahead of today's open, despite setting a new 52-week low earlier in the week. Shares are up 21.8%. My Take: Usually, you see stocks decline once a dividend is paid out, but FCUV is inexplicably climbing. This looks weird, but it could be a natural rebound to an over-done selloff. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... Want alerts delivered straight to your cell every morning for free?* Text ELITE to 47121 to sign up now and get our watchlists sent directly to your phone! 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