Another busy day for corporate earnings... 💰

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Wednesday, October 25th. I hope you have a great day in the market. Now, let's get ready to trade! Markets 📈 Stocks rebound from a short slide with modest gains on Tuesday. The Nasdaq led the way with a 0.9% gain, while the S&P 500 and Dow trailed with gains of 0.7% and 0.6%, respectively. The small-cap Russell 2K added 0.8%. Today, futures are mixed in early trading. S&P 500 contracts are down 0.2%, but Dow futures are up by 0.1%. Sponsored [This DeFi Coin Could 10x Soon... I Advise You Get In Now!]( I'm urging all of my followers - do NOT miss this opportunity for life-changing gains this year. Experts are predicting this coin has potential for unprecedented growth. Even a small position could deliver 10x returns or greater very soon. Timing is everything. [Go here now to discover this DeFi diamond before the next surge!]( Premarket Highlights 🔎 🛒 Banks Cool on Consumer Loans Bad news for credit-reporting agencies—when banks are on a lending diet, the agencies go hungry. TransUnion [TRU], one of the so-called "Big Three" credit reporting bureaus, saw its shares nosedive by 23% after its recent earnings report. The Nitty-Gritty 📉 TransUnion relies on loan inquiries and volumes to keep its revenue streams flowing. As regional banks pull back on consumer lending, the company had to cut its annual projections and withdraw its long-term financial targets for 2025. CEO Christopher Cartwright pointed to a "macro retreat" in lending affecting business fundamentals. The Ripple Effect 🌊 This trend spells trouble for consumers' access to credit. Despite strong demand, the credit conditions are tightening, especially for those with lower credit scores. TransUnion notes a general downturn in consumer lending, exacerbated by dwindling pandemic savings and a slightly shaky job market. The Dominoes Fall 🎲 This isn't just TransUnion's problem. The news also shook shares of Experian and Equifax, rounding out the credit bureau trifecta. It turns out, when banks sneeze, credit agencies catch more than just a chill—they catch a cold. Wrapping it Up 🎁 The cutback in lending isn't just a TransUnion issue; it's a red flag for the broader credit market and consumers. As banks cut back, expect to see more tightening belts across the industry. What to Watch Today 👀 More Earnings Earnings are the biggest item on this week's docket. Today, we'll hear from T-Mobile, Boeing, General Dynamics, and others before the open. We also got a round of Big Tech earnings after Tuesday's close that could shake up today's market. Keep an eye on the new home sales report for September at 8:30 a.m. too because it could provide some useful insights into the state of the home building sector. Major Earnings 💰 Thermo Fisher Scientific [TMO] ... AM T-Mobile Us [TMUS] ... AM Boeing Company [BA] ... AM Automatic Data Processing [ADP] ... AM CME Group [CME] ... AM General Dynamics Corporation [GD] ... AM Meta Platforms [META] ... PM International Business Machines Corporation [IBM] ... PM ServiceNow [NOW] ... PM Equinix [EQIX] ... PM Economy 🏗 - New home sales [Sep] ... 10:00a Running Hot 🔥 Gainers - ReShape Lifescieces [RSLS] >> +56.0% - Rail Vision Unit [RVSN] >> +23.5% - JE Cleantech [JCSE] >> +20.9% Decliners - reAlpha Tech [AIRE] >> (25.6%) - Sonnet Biopharma [SONN] >> (35.3%) - Appreciate Holdings [SFR] >> (34.4%) Microsoft [MSFT] - Last Close: $73.13 Microsoft is trending after its Tuesday-night earnings report. The Big Tech titan reported stronger-than-expected earnings and revenues for the third quarter after yesterday's closing bell. Microsoft reported EPS of $2.99 on revenues of $56.52 billion. Analysts were looking for $2.65 EPS on revenues of $54.55 billion. The strong quarter prompted price target hikes from Piper Sandler, Barclays, Goldman Sachs, and others. MSFT is leading the S&P 500 with a 3.6% gain in today's premarket. My Take: MSFT is facing stiff resistance at $350 per share. Unfortunately, I don't think this earnings beat will be enough for it to break through. Stride [LRN] - Last Close: $44.50 Strong earnings are also boosting shares of Stride. The K-12 education company reported its fiscal Q1 results after Tuesday's closing bell, and investors are cheering the results. Stride posted a surprise profit of $0.11 per share after reporting a loss of ($0.42) per share a year earlier. Analysts expected a $0.42 per share loss. Revenues of $480.2 million also topped the consensus of $450.8 million, and Stride's fiscal Q2 guidance also beat expectations. LRN is one of today's top premarket movers with 14.3% gain. My Take: LRN was on an absolute tear before suffering a pullback last week. Now, it's on pace to set a new 52-week high, and share prices should find some support at $45. Abri SPAC I [ASPA] - Last Close: $12.60 Abri SPAC is up after a regulatory filing. Early this morning, the company published a Form 425 notifying the market that shareholders had voted to approve its proposed business combination. The vote clears the way for the SPAC to close on its merger with Logiq, Inc. Upon closing, Abri SPAC will cease to exist, and Logiq will take its place on the NASDAQ-NMS exchange. ASPA is one of this morning's top premarket stocks with a 43.2% gain. My Take: SPAC trades are always choppy, and I don't expect this one to be any exception. Lately, it seems like all these SPAC stocks pull back once they close their deals, so tread lightly if you want to chase gains in ASPA. BioXcel Therapeutics [BTAI] - Last Close: $2.34 BioXcel is rallying after a clinical data release. The biotech said results from a single-site TRANQUILITY Phase 3 trial may support a new drug application for BXCL501 for Alzheimer's disease. An independent audit discovered no issues that would impact data integrity, and no misconduct or fraud "found beyond instance previously reported." BioXcel said the audit confirms the positive data from the TRANQUILITY II trial that was announced in June 2023. Shares of BTAI are up 35.9% on elevated trading volume. My Take: Shareholders were concerned about the integrity of BTAI's trial data, but the independent audit seems to have reassured the market. I would call this a relief rally. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... 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