Strong tech earnings boost stocks 🔥

Futures are rocketing higher, and investor sentiment towards the tech sector just got a massive boost...                                                                                                                                                                                                                                                                                                                                                                                                                 February 02, 2024 | [Read Online]( Chris Dinello February 02, 2024 Good Morning! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Let's get ready to trade! Markets 📈 The market rallied on Thursday and recaptured a nice chunk of ground from its Wednesday sell-off. - S&P 500 [+1.2%] - Dow [+0.9%] - Nasdaq [+1.3%] - Russell 2K [+1.3%] S&P 500 futures are u by 0.6% in early trading, raising the likelihood of a higher open. What to Watch Today: The December jobs report is on deck for an 8:30 a.m. release, and investors are anxiously awaiting the data. However, since the market has its heart set on a rate cut, a not-so-good number could provoke a positive reaction. [It's Like You're Trading 24 Hours A Day...]( (Ad) Hi there, it's Tom Busby, founder of the Diversified Trading Institute and while we know that it's not possible to trade 24 hours a day, it is possible to learn how to profit like you do! With my new guide, the "Little Black Book", you can discover how to leverage every market to help you earn more, even when the trading day is done. [Click here for your free copy now!]( Premarket Highlights 🔎 📉 Stocks Notch Monthly Gains Despite Weak Finish Wednesday's market took a downward turn after Fed Chair Jerome Powell hinted that a March interest-rate cut might not be in the cards. Despite this disappointment, major indexes still wrapped up their third consecutive month of gains. 📊 January's Mixed Signals: Throughout January, the stock market oscillated between optimism about the U.S. economy and wariness over the Fed's future monetary policies. The month concluded with a lean towards caution, largely influenced by the prospect of prolonged high interest rates. The S&P 500 saw a 1.6% drop - its biggest one-day percentage fall since September. The tech-heavy Nasdaq Composite tumbled by 2.2%, affected by losses in each of the 'Magnificent Seven' tech giants. Meanwhile, the Dow Jones also retreated by 0.8%, shedding around 317 points. 📈 Monthly Overview: Despite the day's losses, January's overall performance remained positive. The S&P 500 led with a 1.6% increase, followed by the Dow with a 1.2% gain. The Nasdaq, weighed down by declines in major players like Tesla and Apple, edged higher by around 1% for the month. 🐂 Optimistic Outlook The strong start to the year is a good sign for stocks. Progress has been slow, but the first hint that an interest rate cut is within reach could trigger a significant upward move. If the pullback continues, it could develop into a ‘buy the dip’ opportunity. Featured Earnings 💰️ - ExxonMobil [XOM] ... AM - AbbVie [ABBV] ... AM - Chevron [CVYX] ... AM - Regeneron Pharmaceuticals [REGN] ... AM - Bristol-Myers Squibb [BMY] ... AM - The Cigna Group [CI] ... AM - Charter Communications [CHTR] ... AM - Aon [AON] ... AM - W.W. Grainger [GWW] ... AM - LyondellBasell Industries [LYB] ... AM Economy 🏗 - U.S. nonfarm payrolls [Jan] ... 8:30a - U.S. unemployment rate [Jan] ... 8:30a - U.S. hourly wages [Jan] ... 8:30a - Factory orders [Dec] ... 10:00a - Consumer sentiment (final) [Jan] ... 10:00a Running Hot 🔥 Gainers - CCSG Tech [CCTG] >> +36.9% - Roma Green Finance [ROMA] >> +33.1% - C3is [CISS] >> +16.8% Decliners - Fibrobiologics [FBLG] >> (27.3%) - AgriFORCE [AGRI] >> (18.8%) - ADDvantage [AEY] >> (19.6%) Meta [META] - Last Close: $394.78 The stock formerly known as Facebook just announced its first-ever dividend in its blow-out Q4 earnings report. Meta generated EPS of $5.33 per diluted share, up from $1.76 a year earlier, and topped analysts’ $4.94 EPS target. Revenues jumped 24% YoY to $40.11 billion for the quarter, which also beat Wall Street’s estimate. Meta also announced a quarterly dividend of $0.50 per share. META is leading the S&P 500 with a 17.1% gain on nearly 2 million shares traded. My Take: META was yesteday’s big post-market earnings winner, and the market is buzzing this morning. The Big Tech behemoths’s report could boost sentiment across the sector for the next couple of weeks. Minim [MINM] - Last Close: $5.03 This telecom stock is breaking out after investor David Lazar disclosed a 51% active stake in the company following Tuesday’s close. Shares jumped 22.6% on Wednesday in reaction to the news, and momentum continued to drag shares higher in the aftermarket. Today, MINM is up 37.3% in early trading with almost 3 million shares traded/ My Take: I suspect Lazar has plans for MINM, but it’s anyone’s guess what they are, at this point. There could be a take-private buyout deal in this stock’s future. Good Times Restaurants [GTIM] - Last Close: $2.44 The restaurant operator is rebounding after a weak earnings report prompted a slight pullback in its shares earlier this week. Good Times fell 1.2% on Thursday, following its after-market release on Wednesday. However, the move has suddenly switched gears in today’s premarket, and shares are now pushing higher. GTIM is up 16.3% in early premarket trading. My Take: GTIM appears to have some strong price suppot around the $2.40 mark. Kopin [KOPN] - Last Close: $1.84 This micro-cap stock is getting a boost after announcing a $3 million purchase order for its simulated thermal sights on Wednesday morning. For some reason, Kopin shares dipped in Wednesday’s session, despite the seemingly good news. However, it appears the market has had a change of heart about the deal yesterday, and KOPN is now rallying ahead of today’s open. KOPN is a top mover with a 22.8% gain on upwards of half-a-million shares traded in the premarket. My Take: KOPN appears to be locked into a positive trend that could continue if it maintains its momentum. That's it for today! Thanks for reading, and good luck out there! Best Regards, — Chris D. 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