My Wife Thinks I’m A Stock Guru (I’m Not) 🔥

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Tuesday, August 1st. I hope you have a great trading session. Let's get ready to trade! Markets 📈 The Dow added 0.2% in another positive day for U.S. stocks. The Nasdaq followed suit with a 0.2% gain of its own, and the S&P 500 added 0.1%, while the small-cap Russell 2K outperformed with a 1.0% gain. Today, S&P 500 futures contracts are down 0.2% in early premarket trading, so we may be headed for a lower open. Sponsored [My Wife Thinks I’m A Stock Guru (I’m Not).]( Our investment portfolio has been soaring… and my wife took notice. She tells all her friends that I’m the “Jim Cramer” of stocks (I’m not). I’m just a regular guy with a regular job. But my success is because I subscribe to Rest & Retire (she doesn’t know it exists). One of their recommendations soared over 200% in just eight months. The best part is that it isn’t complicated, and I don’t have to monitor my brokerage account every minute of the day. [Here's how you can get started, too…]( Premarket Highlights 🔎 📉 Weak Earnings Outlook Threatens Rally The stock market has performed well as of late, despite red flags that corporate profits are on the decline. S&P 500 companies are on pace to log a 7% decline in Q2 earnings compared to last year, which would mark the largest single-year dropoff since Q2 2020, the peak of the COVID-19 pandemic. What to Watch Today 👀 Huge Day for Earnings Tuesday's earnings docket features a broad collection of notable companies, including reports from big pharma giants Pfizer and Merck; construction giant Caterpillar; and cutting-edge chipmaker AMD. Keep an eye on these reports because they could have a major influence on today's trading session. Major Earnings 💰 Merck [MRK] ... AM Pfizer [PFE] ... AM Caterpillar [CAT] ... AM Uber [UBER] ... AM Eaton [ETN] ... AM Altria Group [MO] ... AM Marriot Intl. [MAR] ... AM Vertex Pharma [VRTX] ... PM Starbucks [SBUX] ... PM Advanced Micro Devices [AMD] ... PM Economy 🏗 - S&P Final US Mfg. PMI [Jul] ... 9:45a - Job Openings [Jun] ... 10a - ISM Mfg. [Jul] ... 10a - Construction Spending [Jun] .... 10a Running Hot 🔥 Gainers - TradeUP Acquisition [UPTD] >> +35.3% - Mobile Global eSports [36.9] >> +34.3% - Tupperware [TUP] >> +23.1% - D Wave Quantum [QBTS] >> +20.0% Decliners - PolishedCom [POL] >> (52.4%) - TG [TGTX] >> (39.8%) - Cybin [CYBN] >> (18.2%) - Zoominfo [ZI] >> (19.7%) Arista Networks [ANET] - Last Close: $155.09 Strong earnings are boosting shares of Arista Networks. The cloud networking company reported its Q2 results late Monday, and the numbers are getting a warm reception from investors in today's premarket. Arista generated EPS of $1.58 on revenues of $1.46 billion, topping the consensus of $1.44 EPS on $1.38 billion in sales. Both figures also represented substantial increases from the previous year. Arista's Q3 revenues guidance also surpassed the Street's expectations. ANET is leading the S&P 500 with a 13.5% gain in today's premarket. My Take: ANET is coming off a pullback, but it's currently trading close to its pre-sell off price. However, it's facing stiff resistance around the $176 mark, and it hasn't broke through just yet. American Superconductor [AMSC] - Last Close: $10.08 American Superconductor is running hot on reports of a major breakthrough. Scientists have reportedly discovered a lead-based material that can perfectly conducts electricity at standard room temperatures and pressure. If true, it would be the discovery of a lifetime for the field of condensed matter physics, and it could be a huge breakthrough for American Superconductor. However, some scientists are doubtful about the claims, and Science recently published an article questioning the findings. Regardless, AMSC is benefiting from this news with a big rally this morning. The superconductor company is up 68.1% on elevated trading volume. My Take: This news doesn't directly pertain to AMSC, but it's the most likely explanation for today's rally. It might be too early to bet the barn on this one, but I am adding it to my watchlist. Evolve Transition Infrastructure [SNMP] - Last Close: $7.65 Evolve Transition is continuing its unbelievable hot streak this morning. On Monday, the stock underwent a ridiculous rally, jumping more than 700% amid a flurry of trading halts. Despite the enormous gains, the rally's cause is somewhat uncertain. Last week, the company announced the NYSE lifted its trading suspension on the stock. However, that news broke last Wednesday, and the big rally didn't come until several days later. Whatever the reason, this tiny stock is on the move again in today's premarket, Shares are up 48.8% in early trading. My Take: I don't trust these gains. SNMP is treading thin ice after such a large gain, and I am quite confident that we'll see a pullback at some point this week. Agriforce Growing Systems [AGRI] - Last Close: $0.1301 An analyst upgrade is lifting shares of Agriforce Growing. Early this morning, Refinitiv/Verus analysts upgrade AGRI from "sell" to "hold" without naming a price target on the stock. Agriforce also announced a business update late last week that may be contributing additional momentum to today's rally. AGRI is one of today's top sotcks with a 33.7% gain on active trading volume. My Take: AGRI has had a rough run this year, but it may have already hit its bottom. 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. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails. [Bots click here]( 1969 S. ALAFAYA TRAIL Orlando FL 32828 USA [Unsubscribe]( | [Change Subscriber Options](