Investors brace for new inflation data 🎢

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Tuesday, June 13th. I hope you have a great day in the market. Now, let's get ready to trade! Markets 📈 Stocks opened the trading week on a high note yesterday. The S&P 500 added 0.9%, and the Dow gained half a point. The Nasdaq outperformed with a 1.5% rally, and the small-cap Russell 2K added 0.4%. Futures are trading in the green in today's premarket. S&P 500 contracts are up about 0.1% ahead of today's May CPI report. Sponsored [New tech. Massive growth. Huge opportunity.]( 🚀 Invest in the company developing the next generation of lithium-anode battery technology. [Get the free report.]( Premarket Highlights 🔎 💲 CPI Expectations Economists' median forecasts say CPI inflation likely grew 4.0% on an annual basis last month and 0.1% on a month-over-month basis. Core CPI is expected to grow by 5.3% annually and 0.4% MoM. If May's inflation numbers outpace expectations, we could see a very negative reaction in today's trading session. What to Watch Today 👀 May CPI Report Last month's consumer price index data will drop at 8:30 a.m. today, and the report will probably have a significant influence on the market. Investors are hopeful that the Fed is nearing the end of its rate hike path, but, unless there's a policy change, the central bank will continue raising rates until inflation falls below its 2.0% target. Today's CPI report will tell us if inflation is still going in the right direction. Major Earnings 💰 Motorcar Parts Of America, Inc. [MPAA] ... AM Iteris Inc [ITJ] ... PM Mamamancini'S Holdings, Inc. [MMMB] ... PM Mind Technology, Inc. [MIND] ... PM Economy 🏗 - NFIB optimism index [May] ... 6:00a - Consumer price index [May] ... 8:30a Running Hot 🔥 Gainers - Sonic Foundry [SOFO] >> +39.0% - OLB Group [OLB] >> +50.7% - Millennium Intl. [MGIH] >> +44.0% - YS Bio [YS] >> +33.0% Decliners - Auddia [AUUD] >> (28.7%) - Advanced Human Imaging [AHI] >> (24.9%) - Finch Therapeutics [FNCH] >> (19.2%) - Jin Medical Intl. [ZJYL] >> (16.1%) Oracle [ORCL] - Last Close: $116.43 Oracle is trending after a strong earnings report. Yesterday, the IT company reported its fiscal Q4 earnings after the closing bell, and the results surpassed expectations. Oracle's non-GAAP EPS grew 8.4% YoY to $1.67 in Q4, beating the consensus of $1.58 by a healthy margin. Revenues increased by 16% YoY to $13.84 billion, also topping the consensus of $13.73 billion. ORCL rallied 5.9% on Monday in anticipation of the earnings report, and now it's running hot again in today's premarket. Shares are up 5.0%, and it's currently the top-performing S&P 500 stock in today's premarket. My Take: ORCL is up 58%+ over the past 12 months. This legacy tech stock is killing it, and it still looks like a solid "buy" candidate, even at today's price. First Wave BioPharma [FWBI] - Last Close: $1.14 First Wave Bio just cleared a key clinical milestone. The clinical-stage biopharma firm said it has reached its enrollment target in an ongoing Phase 2 SPAN study of its adrulipase drug candidate. First Wave said the study will examine the drug's use as a treatment for exocrine pancreatic insufficiency (EPI) in patients with cystic fibrosis (CF). The Phase 2 multi-center clinical trial included 12 patients. Two-thirds have already completed the study, and the final patients are currently being dosed. Top-line data from the trial is expected to be available to the public by July 2023, according to CEO James Sapirstein. FWBI is today's top premarket stock with a 109.3% gain on elevated trading volume. My Take: FWBI got a nice pop from this news, but the clinical data will have the final say in which way this stock goes. It might be wise to wait for a pullback and time your entrance around the July 2023 top-line data release. iBio [IBIO] - Last Close: $0.7285 A recent announcement is lifting shares of iBio. Late Monday, the tiny biotech revealed a new partnership with the National Institute of Allergy and Infectious Diseases to develop a crucial vaccine. iBio and the NIAID will collaborate on a vaccine for a fatal viral disease called Lassa fever using iBio's patented AI epitope steering platform. The biotech firm will work with the NIAID's Vaccine Research Center to determine if using the platform provides significant advantages over traditional methods. IBIO is one of this morning's top stocks with a 22.8% gain. My Take: Financial details of this arrangement weren't disclosed, but it could lead to a big government deal for IBIO if its tech proves advantageous. Casi Pharmaceuticals [CASI] - Last Close: $2.24 An analyst upgrade is lifting shares of Casi Pharma. Yesterday, analysts from Refinitiv/Verus upgraded CASI from "hold" to "buy." Refinitiv/Verus didn't set a price target on the stock, but the upgrade was enough to get shares moving. The upgrade rallied CASI to a 22.7% gain in today's premarket. My Take: I don't have access to Refinitiv's note, so I can't tell you what the reasoning behind this upgrade was. However, the market seems to be reacting favorably to the news, and CASI's chart isn't terrible. 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. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. 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