Dear Readers,

On Friday, the S&P 500 remained mostly unchanged as market participants digested a series of lackluster quarterly earnings reports, including one that precipitated a significant sell-off of Intel's stock.

Despite this, the key market indexes are on pace for a robust week. Both the S&P 500 and the Nasdaq Composite have grown over 1%, while the Dow Jones Industrial Average has seen a 0.8% uptick.

The S&P 500 and Nasdaq have both been on an ascending path for the last six trading sessions. Notably, the S&P 500 has ended on a record high in five consecutive sessions, a rally not seen since November 2021.

The markets this week have been buoyed by optimistic economic indicators. Further good news arrived on Friday, reinforcing a positive outlook. The latest PCE figures, following on the heels of Thursday's GDP report, pointed to stronger economic growth in the fourth quarter than many had anticipated. This data has provided a measure of reassurance to investors concerned about the potential for a severe recession.

As of 11:37 AM ET, the Dow was up 108.4219 points, or 0.285%, at $38157.55. The Nasdaq Composite lost -25.625 points, or -0.1463%, at $17491.363. The S&P 500 rose 6.6797 points, or 0.1365%, at $4900.84. Among the 11 major S&P 500 sectors, 6 showed positive movement, with Communication Services leading the way with a 0.59% increase.

Top Movers: Under $10

eHealth Inc (EHTH) is up 26.16% today to trade at the current level of $7.04. This comes after the company announced senior leadership changes and reaffirmed guidance for the fiscal year ending December 31, 2023.

Panbela Therapeutics Inc. (PBLA) zoomed 21.54% in today’s trade to $3.95 after announcing that it has reached 50% enrollment for its ASPIRE global clinical trial in the first-line treatment of metastatic pancreatic cancer.

In current trading, Velo3D Inc (VLD) stock is at $0.31. The company recently announced four key strategic priorities for growth in 2024 and beyond.

Porch Group Inc (PRCH) rose 8.19% in the early hours of today's trading to move at $2.50 following the receipt of $25M with signing of strategic agreement with Aon.

In the current trading session, Lumen Technologies Inc (LUMN) jumped 10.91% to $1.53 over a previous close of $1.38 following news of a revised agreement with a diverse group of creditors, now totaling over $12.5 billion, representing more than 70% of Lumen and Level 3 debt maturing through 2027.

Ex-Dividends Stocks

Conagra Brands Inc (CAG) is about to trade ex-dividend Monday, meaning that investors who buy the stock after Monday will not be eligible for the next dividend payment. The company's next dividend payment will be $0.35 per share. It has fixed January 30 as the record date for the same and will pay the actual dividend on February 29. Last year, the company distributed a total of $1.39 to its shareholders. Based on the last year's worth of payments, CAG has a trailing yield of 4.68% on the current stock price of $29.63.

Another stock that is shelling out dividends on Monday is Oneok Inc. (OKE), having a market capitalization of $40.84B. It will pay a dividend of $0.99 per share, the payment date of which is February 14. Currently, the stock is trading at a trailing dividend yield of 5.46%.

Shares of AZZ Inc (AZZ) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.17 per share, and in the last 12 months, it paid a total of $0.68 per share. Last year's total dividend payments show that AZZ has a trailing yield of 1.09% on the current share price of $62.59.

Apogee Enterprises Inc. (APOG) is also set to go ex-dividend on Monday. The next dividend payment from APOG will amount to $0.25 per share. January 30 has been designated as the record date for this dividend, with the actual payout scheduled for February 14. In the previous year, APOG distributed a total of $0.96 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for APOG stands at 1.78% based on the current stock price of $54.00.

Carpenter Technology Corp. (CRS) will be paying out a dividend of $0.2 per share to shareholders holding their shares as of the close of the business hours on the record date of January 30. Over the past 12 months, CRS has paid out a total of $0.80 per share in dividends. Based on the total dividends paid out last year, CRS boasts an impressive trailing yield of 1.26% on the current share price of $63.60.

Crypto Market Highlights

Most Shorted Stocks

The Symbotic Inc with the symbol SYM currently has a short interest of 48.79%. The short interest has changed by 660000 shares. The days to cover ratio stands at 6.9. The estimated value of the shares held short is approximately $361.93 million. On an average day, 1.36M shares are traded, with the company's market capitalization totaling $3.34B.

For the stock Novavax, Inc. (NVAX), the current short interest is at 42.86%. This represents a significant short interest change of 1710000 shares, corresponding to a short interest percentage increase of +3.48%. The days needed to cover the short positions amount to 7.0. The approximate worth of the shares held short is $209.75 million.

With the symbol UPST, the stock currently has a short interest of 41.32%. The short interest change is -430000 shares, compared with a short interest percentage change of -1.42%. It would take approximately 3.2 days to cover all the short positions. The shares short value is estimated to be around $1.7 billion. The company boasts an average daily volume of 9.81M shares, contributing to a market capitalization of $2.84B.

The stock TRUP has a current short interest of 39.68%. The short interest percentage has experienced increase of +2.39% while there was a change of 290000 shares in short interest. The ratio indicating the time required to cover short positions is 16.4. The calculated worth of the shorted shares amounts to around $849.16 million. Trading activity averages at 755.12K shares per day, while the company's market capitalization stands at $1.18B.

Energy Stocks to Watch

According to our ST Score evaluation, Scorpio Tankers Inc (STNG) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 70.0. The stock's valuation, profitability, performance, stock sentiment, and Piotroski Score are strong. Additionally, it is neutral in terms of growth, financial strength, and forecast.

Our ST Score also classifies Liberty Energy Inc (LBRT) as a high-quality Energy stock today, presenting a Score of 62.0. The stock has strong fundamentals in terms of profitability, performance, and stock sentiment. However, it has weak growth. The value, financial strength, Piotroski Score, and forecast are neutral.

Another stock in the category, Precision Drilling Corp (PDS) has the ST Score of 63.0, which means that the stock carries the potential for higher returns. The stock is strong in performance, stock sentiment, and Piotroski Score. Value, profitability, growth, financial strength, and forecast suggest a neutral outlook.

PBF Energy Inc (PBF) stock has the ST Score of 63.0 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its valuation, profitability, performance, financial strength, and stock sentiment. However, it shows neutral outlook in growth, Piotroski Score, and forecast.

Navigator Holdings Ltd (NVGS) currently has the ST Score of 62.0, which signifies a huge upward potential. The Energy stock's strong points are its performance, growth, financial strength, and Piotroski Score, while its weak points are its profitability. The stock's value, stock sentiment, and forecast indicate a neutral outlook.