Futures point to weak finish for U.S. stocks 📉

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Friday! It's August 18th. I hope you have a great weekend. Now, let's get ready to trade! Markets 📈 The Nasdaq sold off again on Thursday and closed the session 1.1% lower. Meanwhile, the Dow lost 0.8%, and the S&P 500 fell 0.7%. The small-cap Russell 2K matched the Nasdaq's 1.1% loss. Futures are down in the premarket again, with S&P 500 contracts showing a 0.3% loss. It appears that U.S. stocks could be on track for a weak finish to an underwhelming trading week. Sponsored [PROOF: New One Ticker (Weekly) Payouts]( A multimillionaire stock trader's research explains how focusing on just one ticker every week has generated payouts up to a rare 2,614% in under 11 days... AND he's brought proof to show the world! [SEE THE PROOF]( Premarket Highlights 🔎 🐻 Hong Kong Stocks Enter Bear Market Disconcerting economic data coming out of Chin has soured investor sentiment towards the region and plunged Hong Kong's benchmark Hang Seng Index into a bear market on Friday. The Hang Seng lost 2.1% overnight. It's now down 21% from its late-January high of 22688.90. What to Watch Today 👀 Deere Earnings China is a significant growth engine for Deere & Co., and the Asian superpower's recent struggles could translate into a weak quarter for Deere. Deere's earnings could also provide traders with additional insights into the health of the American agricultural sector. Major Earnings 💰 Deere & Company [DE] ... AM Estee Lauder Companies, Inc. (The) [EL] ... AM Xpeng Inc. Dr [XPEV] ... AM Vipshop Holdings Limited Dr [VIPS] ... AM Rlx Technology Inc. Dr [RLX] ... AM Ci&T Inc [CINT] ... AM Stealthgas, Inc. [GASS] ... AM Sunlands Technology Group Dr [STG] ... AM Palo Alto Networks, Inc.[PANW] ... PM Renew Energy Global Plc [RNW] ... PM Economy 🏗 - None scheduled Running Hot 🔥 Gainers - Avalo Therapeutics [AVTX] >> +19.7% - Rail Vision Unit [RVSN] >> +23.2% - Crown Electrokinetics [CRKN] >> +22.6% - Cazoo Group [CZOO] >> +14.9% Decliners - Farfetch A [FTCH] >> (41.6%) - Athersys [ATHX] >> (33.6%) - Recruiter.com [RCRT] >> (23.4%) - Keysight Technologies [KEYS] >> (12.0%) Ross Stores [ROST] - Last Close: $113.06 Ross is up after a strong earnings report. The discount retailer released its Q2 report early this morning, and investors are cheering the results. Ross generated Q2 EPS of $1.32 on sales of $4.93 billion, topping the consensus estimate of $1.16 EPS on $4.75 billion in revenues. Comp sales were up 5%, crushing analysts' 0.9% estimate. Ross also raised its full-year EPS forecast in response to the strong quarter. ROST is leading the S&P 500 with a 4.9% gain in early trading. My Take: ROST could face significant resistance at the $120/share mark, and its P/E is starting to get elevated. This might not be an ideal entry point. Hawaiian Electric [HE] - Last Close: $12.03 An update is lifting shares of Hawaiian Electric. The embattled power utility just announced that it's not looking to restructure, despite potential liabilities from the Maui wildfires. Earlier this week, investors suspected Hawaiian Electric was considering restructuring after Wall Street Journal reported it was in talks with several firms. However, the company dispelled the rumors this morning, and announced it would suspend bills for 18,000 customers in light of the disaster. HE is up 21.0% on active premarket trading volume. My Take: I don't think HE is out of the woods just yet, so it might be a little too early to jump head-first into this one. Alpha Tau Medical [DRTS] - Last Close: $3.60 Upbeat clinical data is powering Alpha Tau Medical to big gains. Late Thursday, the company reported promising long-term safety and efficacy data from multiple clinical studies of Alpha DaRT. Alpha Tau said the treatment demonstrated an 89% response rate when used against lesions in four separate feasibility trials. No Grade 2 or higher late toxicity events were observed six months following treatment. DRTS is one of this day's top movers with a 16.1% gain. My Take: DRTS has had some difficulties lately, but this drug could help the company get its groove back. Neptune Wellness [NEPT] - Last Close: $0.1378 Neptune Wellness just made a big announcement that's rallying shares. After Thursday's close, the cannabis company said it signed a binding term sheet with NH Expansion Credit Fund for its Sprout Organics brand, The Sprout Organics product line includes organic baby and toddler foods. The term sheet gives Neptune the option to exchanges its existing Sprout debt for equity on or before Nov. 13th, which could substantially lower its debt. Sprout could also become a separate, tradable entity under the terms of the deal, Neptune said in a statement. NEPT is today's top premarket stock with a 73.3% gain in response to this news. My Take: NEPT's chart is very ugly, and I don't think this catalyst will be enough for a long-term turnaround. I wouldn't be surprised if this rally lost some of its legs by the time today's session closed. 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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