Dear Readers,

Wall Street remained in an upbeat mood on Wednesday, extending the impressive rally seen in the previous session, thanks to more encouraging inflation data. The Dow and S&P 500 have once again surpassed their two-month highs, while the Nasdaq has reached its best intraday level in over three months, highlighting the ongoing bullish sentiment in the stock market.

At 11:56 AM ET, the Dow was up 100.8711 points, or 0.2896%, at $34928.57. The Nasdaq Composite added 14.8164 points, or 0.0937%, at $15827.289. The S&P 500 rose 9.5498 points, or 0.2124%, at $4505.25. Among the 11 major S&P 500 sectors, 7 showed positive movement, with Industrials leading the way with a 2.16% increase.

The Labor Department's latest report on producer prices has sparked optimism about the future of interest rates. Released this morning before the start of trading, the report revealed an unexpected decrease in U.S. producer prices for the month of October.

The producer price index (PPI) fell by 0.5% in October, reversing the revised 0.4% increase seen in September. Economists had anticipated a 0.1% rise in producer prices, compared to the originally reported 0.5% increase for the previous month.

The PPI report also indicated a slowdown in the annual rate of producer price growth, which dipped to 1.3% in October from 2.2% in September. Economists had expected the pace of price growth to moderate to 1.9%.

This unexpected decline in producer prices has bolstered hopes that the Federal Reserve may slow down its pace of interest rate hikes. The Fed has been aggressively raising interest rates in an effort to combat inflation, but this latest data suggests that inflationary pressures may be easing.

Top Movers: Under $10

Heron Therapeutics Inc (HRTX) is up 58.43% today to trade at the current level of $0.86. This comes after the company increased full-year 2023 net product sales guidance for its oncology care franchise.

Chemomab Therapeutics Ltd ADR (CMMB) zoomed 42.64% in today’s trade to $0.87 after announcing that the FDA has granted CM-101 Fast Track designation for the treatment in adult patients of primary sclerosing cholangitis (PSC), a fibrotic liver disease that can result in liver transplant, cancer and early death.

In current trading, SciSparc Ltd (SPRC) stock is at $6.73 after unveiling positive topline results from its investigator-initiated Phase IIa trial at the Sophie & Abraham Stuchynski Israeli Alzheimer’s Medical Center (IMCA).

Solid Biosciences Inc (SLDB) rose 25.35% in the early hours of today's trading to move at $2.67 after announcing that it has received FDA clearance of an Investigational New Drug (IND) application for SGT-003.

In the current trading session, CorMedix Inc (CRMD) jumped 31.30% to $4.11 over a previous close of $3.13. The company recently declared financial results for the third quarter and nine months ended September 30, 2023.

Ex-Dividends Stocks

Valero Energy Corp. (VLO) 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 $1.02 per share. The company has fixed November 17 as the record date for the same and will pay the actual dividend on December 20. Last year, the company distributed a total of $4.07 to its shareholders. Based on the last year's worth of payments, VLO has a trailing yield of 3.19% on the current stock price of $127.76.

Another stock that is shelling out dividends tomorrow is Unilever plc ADR (UL), having a market capitalization of $120.70B. It will pay a dividend of $0.45 per share, the payment date of which is December 08. Currently, the stock is trading at a trailing dividend yield of 3.80%.

Shares of AMGEN Inc. (AMGN) will be the talk of stock market on Thursday as the stock will turn ex-dividend. The company's next dividend payment will be $2.13 per share, and in the last 12 months, the company paid a total of $8.55 per share. Last year's total dividend payments show that AMGN has a trailing yield of 3.15% on the current share price of $271.59.

A10 Networks Inc (ATEN) is also set to go ex-dividend tomorrow. The next dividend payment from ATEN will amount to $0.06 per share. November 17 has been designated as the record date for this dividend, with the actual payout scheduled for December 01. In the previous year, ATEN distributed a total of $0.24 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for ATEN stands at 1.95% based on the current stock price of $12.30.

Chevron Corp. (CVX) will be paying out a dividend of $1.51 per share to shareholders holding their shares as of the close of the business hours on the record date of November 17. Over the past 12 months, CVX has paid out a total of $6.03 per share in dividends. Based on the total dividends paid out last year, CVX boasts an impressive trailing yield of 4.13% on the current share price of $145.94.

Crypto Market Highlights

Most Shorted Stocks

Semtech Corp. (SMTC) was one of the most shorted stocks as of latest short interest figures, with 25.02% 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 7.8. This represents a change of 5650000 shares, which corresponds to a +55.39% increase in short interest. The total value of the shares held short is estimated to be around $252.65 million. The average daily volume stands at 2.07M shares, and the market capitalization of the company is $1.02B.

The Plug Power Inc with the symbol PLUG currently has a short interest of 26.98%. The short interest has changed by 5190000 shares. The days to cover ratio stands at 6.8. The estimated value of the shares held short is approximately $633.48 million. On an average day, 25.47M shares are traded, with the company's market capitalization totaling $2.65B.

For the stock Kohl's Corp. (KSS), the current short interest is at 26.2%. This represents a significant short interest change of -80,220 shares. The days needed to cover the short positions amount to 5.37. Averaging 5.01 million shares traded per day, the company maintains a market capitalization of $2.78 billion.

The stock AEHR has a current short interest of 23.09%. The short interest percentage has experienced increase of +10.10% while there was a change of 610000 shares in short interest. The ratio indicating the time required to cover short positions is 6.0. Trading activity averages at 1.10M shares per day, while the company's market capitalization stands at $742.18M.

AI Stocks to Watch

According to our ST Score evaluation, NVIDIA Corp (NVDA) emerges as a high-quality stock in the AI industry, attaining an impressive score of 63.0. The stock's profitability, performance, growth, stock sentiment, and Piotroski Score are strong. However, its value, and financial strength are weak. Additionally, it is neutral in terms of forecast.

Our ST Score also classifies Sap SE ADR (SAP) as a high-quality AI stock today, presenting a Score of 60.0. The stock has strong fundamentals in terms of profitability, performance, stock sentiment, and Piotroski Score. However, it has weak value, growth, and financial strength. The forecast are neutral.

Another stock in the category, Broadcom Inc (AVGO) has the ST Score of 60.0, which means that the stock carries the potential for higher returns. The stock is strong in performance, stock sentiment, and Piotroski Score but weak in value. Profitability, growth, financial strength, and forecast suggest a neutral outlook.

UiPath Inc (PATH) stock has the ST Score of 59.0 which implies that the AI 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 value, and profitability. However, it shows neutral outlook in growth, Piotroski Score, and forecast.

Meta Platforms Inc (META) currently has the ST Score of 59.0, which signifies a huge upward potential. The AI stock's strong points are its profitability, performance, growth, and stock sentiment, while its weak points are its value, and financial strength. The stock's Piotroski Score, and forecast indicate a neutral outlook.