Big Bank Earnings on Deck 💰

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 October 13th. I hope you have a great weekend. Now, let's get ready to trade! Markets 📈 Stocks turned south on Thursday after September's CPI report showed an unexpected up-tick in inflation compared to the previous month. The S&P 500 and Nasdaq lost 0.6% on the day, while the Dow gave up half a point. The Russell 2K sold off for a 2.2% loss. Today, futures are mixed in early trading. Both Dow and S&P 500 contracts are trading close to flat. Sponsored [FedCoin Could Send this $3 Stock Skyrocketing]( The government-backed digital dollar, better known as "FedCoin", is finally set to "go live"... Think of the 40-year-old U.S. banking system as the dial-up internet of the late 1990s... And FedCoin as wireless, high-speed internet. The man named Bloomberg's #1 forecaster says it even stands to drive one of the largest waves of wealth in American history. [Get a Full Briefing Here]( Premarket Highlights 🔎 📉 Consumer Price Index New data on the consumer price index showed the annual inflation rate ticked up to 3.7% in September from 3.6% a month earlier. Stocks pulled back following the report's Thursday release, but traders are hoping the Fed won't impose another rate hike over the modest uptick. What to Watch Today 👀 Bank Earnings Today's session features a small but influential docket of Wall Street bank earnings. JPMorgan Chase, Citigroup, & Wells Fargo are all on the schedule, along with titanic fund manager Blackrock and PNC Financial Services regional bank. Keep an eye on these reports because they could provide some valuable insights into the state of the U.S. economy in Q3. Major Earnings 💰 UnitedHealth Group [UNH] ... AM Jp Morgan Chase [JPM] ... AM Wells Fargo [WFC] ... AM BlackRock BLK] ... AM Citigroup [C] ... AM PNC Financial Services Group (The) [PNC] ... AM Economy 🏗\ - Import price index [Sep] ... 8:30a - Import price index minus fuel [Sep] ... 8:30a - Consumer sentiment (preliminary) [Oct] ... 10:00a Running Hot 🔥 Gainers - Biopath [BPTH] >> +128.4% - Oblong [OBLG] >> +60.4% - Blue Star Foods [BSFC] >> +39.7% Decliners - Outset Medical [OM] >> (41.8%) - Secoo Holding [SECO] >> (33.9%) - Smart Global [SGH] >> (28.5%) Dollar General [DG] - Last Close: $101.83 Dollar General is trending after a personnel move. After Thursday's close, the discount retailer said it's bringing back former CEO Todd Vasos to reclaim the chief executive role, effective immediately. Vasos previously led the company from June 2015 to November 2022. The move brought a mixed reaction from analysts, with some upgrading the stock and others downgrading, slashing price targets, etc. w However, shares of DG are leading the S&P 500 with a 6.8% gain, so the market appears to be bullish on the news. My Take: If Vasos can execute a turnaround, now could be a great time to make an entrance in DG. Plus, consumer staples stocks like can be very resistant to global economic uncertainty. Ehang Holdings [EH] - Last Close: $17.10 Ehang Holdings is on fire after a regulatory decision. Earlier today, the Chinese drone firm said its EH216-S passenger-carrying UAV system was awarded a Type Certificate from China's Civil Aviation Administration. The safety certification brings the company's drones one step closer to commercial use. The 216-S is a 16-rotor drone that can carry two passengers, and it costs roughly USD$296,000 for each vertical take off and landing drone. EH is up 48.0% on news of the green light from regulators. My Take: EH may be onto something here, but Chinese stocks can be very unpredictable. Flying taxis seems like a long-shot concept to boot. RedHill Biopharma [RDHL] - Last Close: $0.3720 RedHill Bio is moving higher after a regulatory filing. The tiny biotech published a Form D after Thursday's close and disclosed the issuance of warrants to purchase 8.6 million American Depository Shares. The offering was considered exempt under federal exemption Rule 506(b). RDHL is moving higher in the premarket. It's up 44.0% in early trading. My Take: This RDHL rally appears to be overdone, unless there are other forces at play here. Shift Technologies [SFT] - Last Close: $0.1340 A regulatory disclosure is giving Shift Technologies a boost. Late Thursday, the company published a Form 144 disclosing the proposed sale of securities under Rule 144 of the 1933 Securities Act. Altogether, the company plans to offload 1.15 million warrants, with TD Ameritrade acting as the broker. The shares will come from the personal holdings of Maruthi J. D. Venkata. However, the disclosure doesn't list this person's role in the company. SFT is up 59.8% in the premarket, making it one of this morning's top performers. My Take: The SFT rally is suspect. I don't see any material reason this stock should be up 59%, so be wary of a potential pullback if you decide to dabble. 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. 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