Dear Readers,

U.S. stocks rose on Wednesday after a senior Federal Reserve official suggested that the central bank may have concluded its cycle of interest rate increases, potentially paving the way for a future rate reduction. Expectations of a shift in the Federal Reserve's policy stance strengthened after Governor Christopher Waller indicated that maintaining excessively high interest rates may not be necessary if inflation continues to moderate steadily. 

Prominent investor Bill Ackman joins the growing chorus of market participants anticipating an earlier-than-expected shift in the Federal Reserve's stance towards rate cuts. Ackman suggests a potential rate cut as early as the first quarter of 2024.

Moreover, recent data revealed that the U.S. economy expanded at a faster-than-anticipated pace in the third quarter, fueled by robust consumer spending and business inventory buildup. The Census Bureau reported an upward revision to its initial estimate, placing the U.S. economy's growth rate for the third quarter at an impressive 5.2% annualized rate. This figure exceeds the previous estimate of 4.9%, underscoring the economy's resilience amidst ongoing challenges.

The data reinforces the remarkable resilience of consumer spending during the summer months, driving the economy to its fastest pace since the tail end of 2021, when government stimulus measures were still aiding the U.S.'s recovery from the severe economic downturn in 2020.

As of 11:51 AM ET, the Dow was up 27.5508 points, or 0.0778%, at $35444.53. The Nasdaq Composite added 8.083 points, or 0.0505%, at $16018.512. The S&P 500 rose 4.46 points, or 0.0979%, at $4559.35. Among the 11 major S&P 500 sectors, 8 showed negative movement, with Energy leading the way with a -1.28% decrease.

Top Movers: Under $10

China Pharma Holdings Inc. (CPHI) is up 101.10% today to trade at the current level of $0.20. This comes after the company announced the completion of third party testing of Dry Eye Disease Therapeutic device.

Altamira Therapeutics Ltd (CYTO) zoomed 36.09% in today’s trade to $0.31 after declaring that it has regained compliance with Nasdaq minimum stockholders' equity requirement.

In current trading, Kaival Brands Innovations Group Inc (KAVL) stock is at $0.30. The company provided an update about its general business outlook.

Avenue Therapeutics Inc (ATXI) rose 35.09% in the early hours of today's trading to move at $0.25 after announcing a major investment from Robert Davidow.

In the current trading session, Ault Alliance Inc (AULT) jumped 26.72% to $0.10 over a previous close of $0.08 after announcing its intention to commence an exchange offer to acquire shares of its common stock for up to $15 million.

Ex-Dividends Stocks

Bank Of America Corp. (BAC) 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 $0.24 per share. The company has fixed December 01 as the record date for the same and will pay the actual dividend on December 29. Last year, the company distributed a total of $0.92 to its shareholders. Based on the last year's worth of payments, BAC has a trailing yield of 3.03% on the current stock price of $30.33.

Another stock that is shelling out dividends tomorrow is EBay Inc. (EBAY), having a market capitalization of $21.27B. It will pay a dividend of $0.25 per share, the payment date of which is December 15. Currently, the stock is trading at a trailing dividend yield of 2.43%.

Shares of General Motors Company (GM) will be the talk of stock market on Thursday as the stock will turn ex-dividend. The company's next dividend payment will be $0.09 per share, and in the last 12 months, the company paid a total of $0.34 per share. Last year's total dividend payments show that GM has a trailing yield of 1.09% on the current share price of $31.52.

Tyson Foods, Inc. (TSN) is also set to go ex-dividend tomorrow. The next dividend payment from TSN will amount to $0.49 per share. December 01 has been designated as the record date for this dividend, with the actual payout scheduled for December 15. In the previous year, TSN distributed a total of $1.94 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for TSN stands at 4.11% based on the current stock price of $47.33.

T-Mobile US Inc (TMUS) will be paying out a dividend of $0.65 per share to shareholders holding their shares as of the close of the business hours on the record date of December 01. Over the past 12 months, TMUS has paid out a total of $0.53 per share in dividends. Based on the total dividends paid out last year, TMUS boasts an impressive trailing yield of 0.36% on the current share price of $148.95.

Crypto Market Highlights

Most Shorted Stocks

C3.ai Inc (AI) was one of the most shorted stocks as of latest short interest figures, with 29.70% 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 4.4. This represents a change of -1210000 shares, which corresponds to a -3.33% decrease in short interest. The total value of the shares held short is estimated to be around $1.06 billion. The average daily volume stands at 7.96M shares, and the market capitalization of the company is $3.56B.

The Trupanion Inc with the symbol TRUP currently has a short interest of 39.67%. The short interest has changed by 1020000 shares. The days to cover ratio stands at 19.4. The estimated value of the shares held short is approximately $346.98 million. On an average day, 645.87K shares are traded, with the company's market capitalization totaling $1.16B.

For the stock Cassava Sciences Inc (SAVA), the current short interest is at 36.80%. This represents a significant short interest change of -1430000 shares, corresponding to a short interest percentage decrease of -8.94%. The days needed to cover the short positions amount to 11.3. The approximate worth of the shares held short is $302.85 million.

The stock SPWR has a current short interest of 34.75%. The short interest percentage has experienced decrease of -5.90% while there was a change of -1880000 shares in short interest. The ratio indicating the time required to cover short positions is 6.1. Trading activity averages at 4.90M shares per day, while the company's market capitalization stands at $741.05M.

AI Stocks to Watch

According to our ST Score evaluation, Palo Alto Networks Inc (PANW) emerges as a high-quality stock in the AI industry, attaining an impressive score of 58.0. The stock's profitability, performance, stock sentiment, and Piotroski Score are strong. However, its value, and financial strength are weak. Additionally, it is neutral in terms of growth, and forecast.

Our ST Score also classifies AgileThought, Inc. (AGIL) as a high-quality AI stock today, presenting a Score of 55.0. The stock has strong fundamentals in terms of valuation, stock sentiment, and forecast. However, it has weak performance. The profitability, growth, financial strength, and Piotroski Score are neutral.

Another stock in the category, Symbotic Inc (SYM) has the ST Score of 53.0, which means that the stock carries the potential for higher returns. The stock is strong in performance, growth, and stock sentiment but weak in profitability, and Piotroski Score. Value, financial strength, and forecast suggest a neutral outlook.

Splunk Inc (SPLK) stock has the ST Score of 53.0 which implies that the AI company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, and stock sentiment, but its weaknesses are in its value. However, it shows neutral outlook in growth, financial strength, Piotroski Score, and forecast.

Sprint Corp. (S) currently has the ST Score of 53.0, which signifies a huge upward potential. The AI stock's strong points are its performance, growth, and financial strength, while its weak points are its profitability. The stock's value, stock sentiment, Piotroski Score, and forecast indicate a neutral outlook.