Stocks turn higher to kick off new trading week 📈

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Monday! It's May 8th. I hope you had a great weekend. Now, let's get ready to trade! Markets 📈 Stocks closed out last week's trading action with a rally on Friday, after April's employment report came in stronger than expected. The Dow gained 1.6%, trailing the S&P 500's 1.8% advance by a narrow margin. The Nasdaq led the way with a 2.2% rally, and the small-cap Russell 2K outperformed the large-cap indexes with a 2.3% breakout. Today, futures are trending higher ahead of the opening bell. S&P 500 contracts are up 0.2%. Sponsored [This Green Energy Stock Could Explode 💥]( Green hydrogen has been gaining a TON of momentum of late... Analysts say the clean-burning fuel could supply up to 25% of the world's energy needs by 2050. And one 20-cent stock could be uniquely positioned to dominate this growing industry and deliver huge gains for early movers. [Get all the details here]( Premarket Highlights 🔎 ⚪ None What to Watch Today? 👀 Regional Bank Stocks Regional banking stocks appear to be on the path to another rebound rally in Monday's trading session. Shares of PacWest are up big, while Western Alliance and Comerica are also showing strength. This could be a sign of improving investor sentiment towards the economy. Major Earnings 💰 Kkr & Co. Inc. [KKR] ... AM Tyson Foods, Inc. [TSN] ... AM Paypal Holdings, Inc. [PYPL] ... PM Mckesson Corporation [MCK] ... PM Devon Energy Corporation [Dvn] ... Pm International Flavors & Fragrances, Inc. [IFF] ... PM Ventas, Inc. Reit [VTR] ... PM Skyworks Solutions, Inc. [SWKS] ... PM Palantir Technologies Inc. [PLTR] ... PM Lucid Group, Inc. [LCID] ... PM Economy 🏗 Wholesale inventories [Mar] ... 10:00a Fed Senior Loan Survey [Q1] ... 2:00p Running Hot 🔥 Gainers - EzFill Holdings [EZFL] >> +73.6% - Security Matters [SMX] >> +34.8% - Crown Electrokinetics [CRKN] >> +30.9% - Imperial Petroleum [IMPP] >> 24.5% Decliners - MDJM [MDJH] >> (13.4%) - AC Immune [ACIU] >> (21.8%) - Aptorum [APM] >> (19.8%) - Bon Natural Life [BON] >> (15.2%) Comerica [CMA] - Last Close: $36.44 Comerica is rebounding after a steep sell off last week. The regional banking stock got sucked into a broad sector-wide selloff following First Republic's recent collapse, but its coming back strong today. However, we began to see some signs of improvement on Friday, as the KBW Regional Banking index added about 4.6% before trading closed for the weekend. Comerica is riding the momentum to sharp gains in today's premarket. CMA is the premarket's top S&P 500 stock with a 7.6% gain. My Take: CMA is starting to look like a great value with a 3.84 P/E and a great dividend, but the regional banking sector has become very unpredictable and treacherous. Be cautious if you're going to make a move here. PacWest Bancorp [PACW] - Last Close: $5.76 PacWest Bancorp is extending its recent rally in today's premarket. The tiny regional bank exploded for 81.7% on Friday following reports that the FDIC was considering loosening some rules in order to support smaller banks. Late Friday, PacWest announced it would cut its quarterly dividend to $0.01 per share from $0.25 per share to bolster its balance sheet. The new dividend will be payable to stockholders of record on May 15th. The market is having a surprisingly positive reaction to the news. PACW is up 38.5% in early premarket trading. My Take: There could be a short squeeze in play here. PACW has a 17.8% short ratio as of April 14th, and one can only imagine that it has become even more shorted over the past 3-plus weeks. Immuron [IMRN] - Last Close: $1.87 Immuron is getting a big boost from a pivotal regulatory decision. This morning, the drug firm announced the US Food & Drug Administration lifted a clinical hold on its new campylobacter ETEC therapeutic. The decision clears the way for Immuron to proceed with evaluating the new oral therapeutic efficacy, and the firm is planning two Phase 2 trials. One will examine the drug's efficacy as a treatment for infectious diarrhea cause by ETC, and the other will focus on preventing campylobacteriosis. IMRN is up 65.7% on news of the FDA green light. My Take: IMRN has been trading sideways for months, but today's news could be the boost it needs to enter a new trading range. Bellicum Pharmaceuticals [BLCM] - Last Close: $0.40 A recent regulatory filing is boosting shares of Bellicum Pharma. Late Friday, a Form SC 13D filing with the SEC revealed Baker Bros. Advisors has amassed a 19.99% active stake in the micro-cap pharma firm. Altogether, the firm's position includes about 2.197 million shares of BLCM common stock. Neither company has commented publicly on the newly-disclosed position, but the filing is lifting share prices ahead of Monday's open. BLCM is this morning's top premarket stock with a 76.5% gain on active trading volume. My Take: BLCM is scheduled to report its Q1 earnings report on May 10th, and Baker Bros. makes this move out of nowhere. Do they know something the market doesn't? Hard to say, but I suspect this stock could be volatile this week. 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! 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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