Futures fall with Fed meeting on deck 📉

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Wednesday, July 26th. I hope you have a great day in the market. Let's get ready to trade! Markets 📈 The Dow barely extended its win streak on Tuesday with a gain of less than 0.1%. The Nasdaq was the top large-cap performer, followed by the S&P 500. Small-caps in the Russell 2K also managed to eke out a small gain of less than 0.1%. Futures are down ahead of today's Federal Reserve interest policy announcement. S&P 500 contracts are down roughly 0.2%. Sponsored ["Amazon Loophole" could hand you $28,544 in "royalty" payouts]( A unique type of investment could help you make more money. It's an income stream that allows you to collect $1,000s... $10,000s... or more every year! It only takes a few minutes to set up. [Get Started in 5 Minutes or Less...]( Premarket Highlights 🔎 📈 AI-Focused Biotech Stocks Start to Pull Ahead The AI rally has now spread into the biotech sector, and many companies have experienced steep gains in recent weeks. Recursion Pharma [RXRX] and Schrodinger [SDGR] are both showing triple-digit gains this year. Other AI-focused stocks, like RadNet [RDNT] and Exscientia [EXAI] have also performed well, despite broad underperformance in the healthcare sector as a whole. What to Watch Today 👀 Fed Meeting The Federal Reserve is expected to raise its benchmark interest rate to a 22-year high in today's session. Although not unexpected, the anticipation appears to weighing on futures in today's premarket. However, Jerome Powell's press conference following the policy announcement will be key to investors' outlook following today's hike. If Powell is hawkish, as many expect he will be, I expect a negative move in afternoon trading. However, we could also see a positive reaction if his comments are more dovish than expected. Major Earnings 💰 Coca-Cola Company (The) [KO] ... AM Thermo Fisher Scientific Inc [TMO] ... AM Union Pacific Corporation [UNP] ... AM Boeing Company (The) [BA] ... AM At&T Inc. [T] ... AM Automatic Data Processing, Inc. [ADDP] ... AM Fiserv, Inc [FI] ... AM Meta Platforms, Inc. [META] ... PM Servicenow, Inc. [NOW] ... PM Lam Research Corporation [LRCX] ... PM Economy 🏗 - New home sales [Jun] ... 10:00a - FOMC decision on interest-rate policy ... 2:00p - Fed Chairman Powell press conference ... 2:30p Running Hot 🔥 Gainers - Aerwins Tech [AWIN] >> +45.4% - Chicken Soup Entertainment [CSSEL] >> +38.8% - Datasea [DTSS] >> +19.7% - Tilray [TLRY] >> +12.5% Decliners - Dunxin Financial [DXF] >> (36.7%) - MaxLinear [MXL] >> (27.6%) - Aurora Acquisition [AURC] >> (17.0%) - Snap [SNAP] >> (18.5%) DISH Network [DISH] - Last Close: $7.72 DISH Network is trending after on a new report. This morning, Bloomberg reported the satellite TV company will begin selling its premium wireless service on Amazon.com [AMZN] as soon as this week. The report cited unnamed sources with knowledge of the plan, and shares of DISH are reacting favorably to the story. Shares of DISH are leading the S&P 500 with an 8.8% gain. My Take: DISH has actually been trending higher for the past week or so, and today's rally could put it into a new trading range. This down-and-out stock could be in prime position for a swing higher. Silicon Motion [SIMO] - Last Close: $52.20 Merger news is boosting shares of Silicon Motion. The Hong Kong-based semiconductor equipment company has reportedly received approval to merger with China's Maxlinear [MXL]. So far, the details are sketchy, and there's little information on the terms of the deal. However, SIMO is up 77.0% in response to the reports, and American depository shares of MXL are down 29.2%. My Take: Hard to say where we stand with this merger without more info on the terms of the deal. Until we find out more, it's probably wise to stay away from SIMO. PacWest Bancorp [PACW] - Last Close: $7.69 PacWest is rallying in the wake of a merger announcement. The embattled regional bank has agreed to be acquired by California Banc [BANC] in a $1.1 billion all-stock deal. PacWest's investors will receive 0.6569 shares of BANC for every outstanding share of PACW they own. Private equity firms Warburg Pincus and Centerbridge Partners have also agreed to invest $400 million in Banc of California's buyout deal. PACW is up 27.3% following the deal announcement. My Take: Late yesterday, news reports began to surface claiming this deal was in the works, and the rumors initially prompted a steep drop-off in shares of PACW. However, the stock is reversing course in dramatic fashion in today's premarket. Unfortunately, it appears upside will be limited from here on out. CVRx [CVRX] - Last Close: $16.94 An upbeat earnings report is boosting shares of CVRx. Late Tuesday, the medical device company reported Q2 results that surpassed Wall Street's expectations. CVRx posted a thinner-than-expected Q2 operating loss of $(0.56) per share. Consensus estimates expected a $(0.58) per share loss. Revenues of $9.5 million also topped the Street's $8.57 million target and marked an 88.8% increase from the previous year. CVRX is up 13.1% in the wake of the earnings release. My Take: CVRX's chart looks surprisingly good. Share prices have been steadily trending higher since at least the start of May. This tiny micro-cap could be worth keeping a close 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! 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