Dear Readers,

On Thursday, the Dow Jones Industrial Average surged amidst considerations of fresh inflation figures, fueling optimism that the Federal Reserve might initiate rate cuts next year. November is set to conclude on Wall Street with the most robust monthly gains seen in over a year.

Approaching a potential new 2023 closing peak, the Dow hovered near its previous high closure recorded in August, nearly reaching an intraday high for the year. The S&P 500 and Nasdaq Composite were trading approximately 1% below their respective 2023 peaks.

Thursday's early-released data revealed the personal consumption expenditures price index, the Fed's favored gauge for inflation, meeting expectations by rising 0.2% in October and marking a 3.5% year-over-year increase. These numbers might incentivize the Fed to maintain current rates before considering reductions in 2024.

As of 11:37 AM ET, the Dow was up 301.8281 points, or 0.8519%, at $35732.25. The Nasdaq Composite lost -125.1133 points, or -0.7826%, at $15862.487. The S&P 500 declined -4.0303 points, or -0.0886%, at $4546.55. Among the 11 major S&P 500 sectors, 6 showed negative movement, with Industrials leading the way with a -20.0% decrease.

Top Movers: Under $10

Soligenix Inc (SNGX) is up 260.83% today to trade at the current level of $1.50. This comes after the company received FDA IND clearance for phase 2 clinical trial of Dusquetide in the treatment of Aphthous Ulcers in Behçet's Disease.

Big Lots Inc (BIG) zoomed 14.58% in today’s trade to $5.50 after announcing the appointment of two new leaders to fill roles on its senior leadership team.

In current trading, VinFast Auto Ltd. (VFS) stock is at $8.94 following the declaration from the company that it is to speak and showcase its latest VF 9 Electric Vehicle (EV) at the annual United Nations summit on climate change, COP28.

FREYR Battery (FREY) rose 12.99% in the early hours of today's trading to move at $1.74. The company has provided an update its operational progress at the Customer Qualification Plant in Mo i Rana, Norway.

In the current trading session, Farfetch Ltd (FTCH) jumped 12.72% to $1.10 over a previous close of $0.97. Analyst at Citigroup upgraded FTCH to Neutral from Sell.

Ex-Dividends Stocks

Nike, Inc. (NKE) is about to trade ex-dividend tomorrow, meaning that investors who buy the stock after tomorrow will not be eligible for the next dividend payment. The company's next dividend payment will be $0.37 per share. The company has fixed December 04 as the record date for the same and will pay the actual dividend on January 02. Last year, the company distributed a total of $1.41 to its shareholders. Based on the last year's worth of payments, NKE has a trailing yield of 1.29% on the current stock price of $109.90.

Another stock that is shelling out dividends tomorrow is SLM Corp. (SLM), having a market capitalization of $3.36B. It will pay a dividend of $0.11 per share, the payment date of which is December 15. Currently, the stock is trading at a trailing dividend yield of 2.99%.

Shares of B2gold Corp (BTG) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.04 per share, and in the last 12 months, the company paid a total of $0.17 per share. Last year's total dividend payments show that BTG has a trailing yield of 4.95% on the current share price of $3.36.

Analog Devices Inc. (ADI) is also set to go ex-dividend tomorrow. The next dividend payment from ADI will amount to $0.86 per share. December 04 has been designated as the record date for this dividend, with the actual payout scheduled for December 14. In the previous year, ADI distributed a total of $3.72 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for ADI stands at 2.05% based on the current stock price of $181.27.

Linde Plc. (LIN) will be paying out a dividend of $1.28 per share to shareholders holding their shares as of the close of the business hours on the record date of December 04. Over the past 12 months, LIN has paid out a total of $5.16 per share in dividends. Based on the total dividends paid out last year, LIN boasts an impressive trailing yield of 1.25% on the current share price of $413.87.

Crypto Market Highlights

Most Shorted Stocks

Grindr Inc (GRND) was one of the most shorted stocks as of latest short interest figures, with 34.78% short interest. The days to cover ratio, a measure of how long it would take for all the short positions to be covered based on average trading volume, is 4.5. This represents a change of 70000 shares, which corresponds to a +3.61% increase in short interest. The total value of the shares held short is estimated to be around $13.53 million. The average daily volume stands at 468.26K shares, and the market capitalization of the company is $1.18B.

The Carvana Co. with the symbol CVNA currently has a short interest of 16.02%. The short interest has changed by -680000 shares. The days to cover ratio stands at 3.8. The estimated value of the shares held short is approximately $1.0 billion. On an average day, 8.30M shares are traded, with the company's market capitalization totaling $3.57B.

For the stock Sunnova Energy International Inc (NOVA), the current short interest is at 34.15%. This represents a significant short interest change of 340000 shares, corresponding to a short interest percentage increase of +0.95%. The days needed to cover the short positions amount to 6.5. The approximate worth of the shares held short is $429.68 million.

With the symbol LMND, the stock currently has a short interest of 33.49%. The short interest change is 950000 shares, compared with a short interest percentage change of +6.08%. It would take approximately 10.2 days to cover all the short positions. The shares short value is estimated to be around $652.68 million. The company boasts an average daily volume of 1.70M shares, contributing to a market capitalization of $1.26B.

The stock INBS has a current short interest of 32.73%. The short interest percentage has experienced increase of +1,497.22% while there was a change of 2371600 shares in short interest. The ratio indicating the time required to cover short positions is 0.4. The calculated worth of the shorted shares amounts to around $4.64 million. Trading activity averages at 5.91M shares per day, while the company's market capitalization stands at $2.44M.

Biotech Stocks to Watch

According to our ST Score evaluation, Third Harmonic Bio Inc (THRD) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 58.0. The stock's profitability, performance, financial strength, and stock sentiment are strong. Additionally, it is neutral in terms of value, growth, and forecast.

Our ST Score also classifies MEI Pharma Inc (MEIP) as a high-quality Biotech stock today, presenting a Score of 63.0. The stock has strong fundamentals in terms of valuation, profitability, and performance. The growth, financial strength, stock sentiment, Piotroski Score, and forecast are neutral.

Another stock in the category, Arcturus Therapeutics Holdings Inc (ARCT) has the ST Score of 59.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, profitability, performance, stock sentiment, and Piotroski Score but weak in growth, and financial strength. Forecast suggest a neutral outlook.

Larimar Therapeutics Inc (LRMR) stock has the ST Score of 59.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its performance, financial strength, and stock sentiment, but its weaknesses are in its Piotroski Score. However, it shows neutral outlook in value, profitability, growth, and forecast.

Icosavax Inc (ICVX) currently has the ST Score of 58.0, which signifies a huge upward potential. The Biotech stock's strong points are its performance, financial strength, and stock sentiment, while its weak points are its growth, and Piotroski Score. The stock's value, profitability, and forecast indicate a neutral outlook.