Stocks gain after CPI beat 📈

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Thursday, July 13th. I hope you have a great day in the market. Let's get ready to trade! Markets 📈 The Nasdaq jumped 1.1% on Wednesday, after June's CPI report showed inflation cooled to 3.0% last month. The S&P 500 added 0.7%, while the Dow trailed with a 0.2% gain. The small-cap Russell 2K rallied 1.0%. Futures are holding onto slim gains in early trading. S&P 500 contracts are up 0.2%. Sponsored [WARNING: FedCoin Is REAL (And Coming Soon)]( 🚨 In what could be the worst kept secret inside the D.C. Beltway... A Federal Reserve-backed digital dollar — a.k.a. "FedCoin" — recently finished testing. And now, as a major dollar-destroying event approaches (on July 31)... [Every American should be making this one crucial move, ASAP.]( Premarket Highlights 🔎 💲 Inflation Cools But Rate Hikes are Still Likely Yesterday's June CPI report showed annual inflation cooled to just 3.0% last month. It was the lowest rate of inflation we've seen in roughly two years. A year earlier, inflation peaked at 9.1% in June 2022. Despite the substantial improvement, June's figure remains higher than the Fed's 2.0% target rate, and most economists' believe the Fed will move forward with a hike in July, at least. However, there's a good chance that the Fed's tightening campaign could be winding to a close if inflation continues on its current track. What to Watch Today 👀 Producer Price Index Yesterday's CPI report will be followed up with a PPI report in today's session. Producer inflation can also have a pronounced impact on economic activity, so it's always worth paying attention to this report. Hopefully, PPI will show signs of improvement as those we saw on the June CPI read. Major Earnings 💰 Pepsico, Inc. [PEP] ... AM Cintas Corporation [CTAS] ... AM Fastenal Company [FAST] ... AM Delta Air Lines, Inc. [DAL] ... AM Conagra Brands, Inc. [CAG] ... AM Northern Technologies International Corporation [NTIC] ... AM Aehr Test Systems [AEHR] ... PM Rocky Mountain Chocolate Factory, Inc. [RMCF] ... PM Educational Development Corporation [EDUC] ... PM Economy 🏗 - Initial jobless claims [Jul] ... 8:30a - Producer price index [Jun] ... 8:30a - Federal budget [Jun] ... 2:00p Running Hot 🔥 Gainers - Jiuzi Holdings [JZXN] >> +70.6% - Rail Vision Unit [RVSN] >> +18.5% - Strong Global Enterprise [SGE] >> +17.9% - Sunlands Tech [STG] >> +17.7% Decliners - Marti Technologies [MRT] >> (64.6%) - Cryoport [CYRX] >> (28.6%) - NFT Gaming [NFTG] >> (25.3%) - Galmed Pharma [GLMD] >> (27.5%) Delta Air Lines [DAL] - Last Close: $47.95 Delta is taking off after a strong earnings report. This morning, the air carrier released its Q2 earnings, and the results surpassed the market's expectations. Delta's adjusted EPS grew to $2.68 per diluted share in Q2, up from $1.44 a year earlier, and beat the consensus of $2.39. The air liner's revenues grew 12.7% YoY to $15.58 billion, also topping the consensus of $15.46 billion, thanks to strong demand for air travel. Delta Q3 earnings guidance also beat analysts' estimates, and the company expects to see strong sales for the remainder of the Summer travel season. DAL is leading the S&P 500 with a 4.3% gain in today's premarket. My Take: DAL has been on a tear as of late, and this earnings report gives it even more momentum. Share prices met some resistance at the $48 mark, but this rally could help it get over the hump. 60 Degrees Pharma [SXTP] - Last Close: $4.68 60 Degrees Pharma made a big splash on Wednesday. The specialty pharma firm completed its IPO in yesterday's trading session, priced at $5.28 per share, but the debut didn't go as planned. Share prices fell 11.3% by the time the session closed, but the stock is rebounding in today's premarket. SXTP is up 26.7% on elevated trading volume this morning. My Take: It appears the SXTP's IPO declines may have been overdone. This stock could see some strong momentum as a result of today's rebound. . Senmiao Technologies [AIHS] - Last Close: $0.5351 Senmiao Technologies is up after reporting its financial results. Yesterday, the Chinese company published its fiscal 2023 year-end financial results after the closing bell. Senmiao Technologies reported a 64.5% YoY jump in revenues, thanks to increased operating lease revenues from rentals and ride-hailing platform sales. The company also cut its net operating loss to $3.8 million from $5.6 million a year earlier as a result of its cost-cutting efforts. AIHS is up 18.5% on the heels of the strong year-end report. My Take: AIHS has been beaten down as of late, and you never really know what to expect with China stocks. There are probably better trade opportunities to pursue out there than this one. Snail [SNAL] - Last Close: $1.65 Shares of Snail Inc. are notching gains in this morning's premarket. Yesterday morning, the gaming firm announced its ARK: Survival Evolved game would be featured in a competitive gaming event scheduled to begin today. DEDsaffio is a gaming series featuring Latin American and Spanish streamers led by a top Mexican gaming influencer based in the U.S., ElDed. ElDed has 5.5 million followers on Twitch and 11 million subscribers across his two YouTube channels. SNAL gained 4.4% on Wednesday following the announcement, but shares are really taking off in today's premarket. SNAL is up 35.7% on active trading volume in today's premarket. My Take: SNAL has shown some promising momentum as of late, and this streaming event could provide some valuable influencer exposure. This tiny stock could be worth keeping an eye on. 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. 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. 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