Buckle up; it could be a choppy day 🌊

S&P 500 contracts are ticking higher in the premarket, but we could see volatility later in the session.                                                                                                                                                                                                                                                                                                                                                                                                                 March 06, 2024 | [Read Online]( 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 extended its slide on Tuesday, and most notable U.S. indexes posted losses exceeding 1.0%. - Dow [-1.0%] - S&P 500 [-1.0%] - Nasdaq [-1.6%] - Russell 2K [-0.9%] Futures are pointing to a possible rebound in today’s session. S&P 500 contracts are up by about 0.4% in early trading. What to Watch Today: This morning’s ADP Jobs report will offer some fresh insights into the state of the labor market ahead of the February jobs report scheduled for Friday. Fed Chairman Jerome Powell is also scheduled to appear in front of Congress today, and his testimony could create volatility in the market. Buckle up, because it could be a choppy day!   [Our Top Space Stocks for 2024]( Our latest in-depth research report just dropped, featuring our top Space Stock picks for the year. The report touches provides a macro update on the sector and its prospect, as well as in-depth analysis of several promising companies. This report is exclusively available to Elite Trade Club Insiders, but you can get INSTANT ACCESS if you upgrade now. [Click Here for a Free Preview »]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 🤖 Adobe Navigates the Pitfalls of AI Hype Adobe's [ADBE] foray into generative AI with the launch of Firefly last year positioned it as a frontrunner among large-cap software companies, even outshining Microsoft in the AI spotlight. However, riding the AI wave has proven to be as risky as it is rewarding. Adobe's latest earnings report in December set off alarms, not for what it contained, but for what many perceived it lacked: a significant contribution from AI to Adobe's growth trajectory. The subsequent unveiling of OpenAI's Sora, a new text-to-video creation tool, intensified these concerns, leading to a nearly 10% drop in Adobe's shares since the announcement, a fall steeper than the broader S&P 500 Software & Services Group. 🎨 Creativity Meets Competition Adobe's journey through the AI landscape has been marked by highs and lows. Early last year, fears over the competition from AI image-creation tools like Dall-E cast a shadow over Adobe's stock. Yet, the introduction of Firefly not only dispelled those worries but also propelled Adobe's stock to soar by 77% in 2023. This enthusiasm for Firefly even managed to overshadow concerns surrounding Adobe's attempted acquisition of Figma, a deal ultimately derailed by regulatory resistance. 🎢 The Generative AI Roller Coaster Adobe's stock performance over the past year mirrors the broader market's attempt to digest the disruptive potential of generative AI. Public tools like Dall-E have captivated users with their ability to conjure up bizarrely realistic images, despite occasionally producing anatomical mishaps or infringing on copyrighted materials. Yet, for Adobe's core clientele of professional content creators, the allure of these tools remains limited, pointing to a nuanced impact of generative AI on the creative software giant's future. Featured Earnings 💰️ - Brown-Forman [BF.A] ...AM - Campbell Soup [CPB] ... AM - Abercrombie & Fitch [ANF] ... AM - Thor Industries [THO] ... AM - Korn Ferry [KFY] ... AM - Foot Locker [Fl] ... AM - HighPeak Energy [HPK] ... PM - Kodiak Gas Services [KGS] ... PM - Victorias Secret [VSCO] ... PM - Hamilton Insurance Group [HG] ... PM Economy 🏗 - ADP employment [Feb] ... 8:15a - Fed Chair Jerome Powell testifies to Congress ... 10:00a - U.S. wholesale inventories [Jan] ... 10:00a - Job openings [Jan] ... 10:00a - Federal Reserve Beige Book ... 2:00p Running Hot 🔥 Gainers - Inforbird [IFBD] >> +32.1% - Hippo Holdings [HIPO] >> +25.3% - WiSA Tech [WISA] >> +17.0% Decliners - QT Imaging [QTI] >> (61.1%) - Entravision [EVC] >> (46.5%) - Heart Test Labs [HSCS] >> (20.3%) Airship AI [AISP] - Last Close: $4.95 Niche AI specialists Airship AI is taking off after landing a game-changing government contract with the U.S. Dept. of Justice. Airship was awarded a large contract from an unnamed agency within the DOJ for its Acropolis Enterprise Sensor Management video & data platform. President Paul Allen noted that it was the second USG agency to deploy Acropolis in a FedRAMP certified cloud environment. AISP jumped 200% on Tuesday, and it’s up another 57.9% in today’s premarket, with over 14 million shares changing hands this morning alone. My Take: AISP is getting a big boost from this contract, and understandably so. The U.S. government has strict standards, so, if they see value in this AI-powered tech, it’s probably worth watching. Creative Medical [CELZ] - Last Close: $4.13 The U.S. Food & Drug Administration has awarded Creative Medical an Orphan Drug Designation (ODD) for CELZ-101 as a key transplantation therapy. Creative Medical says the cutting-edge therapy is aimed at preventing allograft rejection in patients undergoing pancreatic islet cell transplantation. The ODD will grant Creative Medical access to special regulatory accommodations intended to assist with the drug’s advancement. CELZ is up 31.7% on nearly 2 million shares traded. My Take: An ODD isn’t exactly a game-changer, but it’s definitely a plus for CELZ. This stock has been stuck in a narrow trading range for a while, but maybe this catalyst can help it break out. BiomX [PHGE] - Last Close: $0.2311 This tiny biotech just announced a merger agreement with Adaptive Phage Therapeutics that includes $50 million in concurrent financing. BiomX said the private placement financing will fund the advancement of its two lead drug candidates through Phase 2 trials in 2025. Upon closing, shareholders of privately held Adaptive Phage will control approximately 45% of the company. PHGE is up 236.0% on more than 28 million shares traded, and its warrants trading under PHGE_U are up 393.3%. My Take: PHGE is getting a huge pop because of this news. Maybe there’s more to the story? Either way, this biotech underdog could be worth keeping an eye on. NKGen Biotech [NKGN] - Last Close: $0.8620 A tiny clinical-stage biotech is rapidly climbing in the premarket after teasing an upcoming clinical presentation yesterday morning. Tuesday morning, NKGen said it will present new data on its SNK01 NK cell therapy in patients with advanced Alzheimer’s disease. The data will be presented Tau2024 Global Conference, held March 25-26, 2024, at The Westin Washington, DC Downtown in Washington, D.C. NKGN is up 63.6% on roughly 8 million shares traded. My Take: NKGN could pullback when the company makes its presentation in a few weeks, so be cautious with this one. That's it for today! Thanks for reading, and good luck out there! Best Regards, — Chris D. Elite Trade Club Text ELITE to 47121 or [click here]( to get our alerts on your mobile device, and never miss another fast-moving stock! P.S. 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