JPMorgan Loves Crypto; Sam Altman Under Fire; Dow Hits New Record

U.S. stocks surged to fresh all-time highs Friday after cooler-than-expected inflation data strengthened bets that the Federal Reserve will stay on its rate-cut path. The Dow Jones Industrial Average jumped 430 points (+0.9%), the S&P 500 gained 0.8%, and the Nasdaq climbed 1.1%, with all three indexes touching new intraday records.

September CPI rose just 0.3% month-over-month and 3% year-over-year — below forecasts — easing investor worries about inflation and reinforcing expectations for further policy easing. Traders now see a near-100% chance of a Fed cut next week and in December.

Intel (INTC) and Procter & Gamble (PG) added to the bullish mood after reporting stronger-than-expected earnings, helping extend Thursday’s tech-led rally. Markets shrugged off political noise around U.S.–Canada trade tensions, keeping the focus on cooling prices and robust corporate results.

Top Movers: Under $10 

Wellgistics Health Inc (WGRX) is up 228.72% to $1.32 after partnering with Datavault AI to launch blockchain-enabled drug tracking solutions.

Genenta Science SpA ADR (GNTA) zoomed 92.49% to $6.22 on news of a strategic manufacturing partnership with Anemocyte for LVV Plasmid DNA production.

In current trading, X4 Pharmaceuticals Inc (XFOR) is at $3.90 after announcing a $135 million public offering to support its rare disease pipeline.

Vivakor Inc (VIVK) rose 23.60% to $0.32 as it confirmed its participation in the upcoming ThinkEquity investor conference in New York.

In the current session, Viomi Technology Co Ltd ADR (VIOT) jumped 20.36% to $3.37 after announcing a $20 million share repurchase plan funded by existing cash reserves.

Ex-Dividend Stocks

USA Compression Partners LP (USAC) is about to trade ex-dividend Monday, 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 $0.53 per share. It has fixed October 27 as the record date for the same and will pay the actual dividend on November 07. Last year, the company distributed a total of $2.10 to its shareholders. Based on the last year's worth of payments, USAC has a trailing yield of 9.13% on the current stock price of $23.01.

Another stock that is shelling out dividends on Monday is RMR Group Inc (RMR), having a market capitalization of $485.77M. It will pay a dividend of $0.45 per share, the payment date of which is November 13. Currently, the stock is trading at a trailing dividend yield of 11.81%.

Shares of Bank Of New York Mellon Corp (BK) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.53 per share, and in the last 12 months, it paid a total of $1.94 per share. Last year's total dividend payments show that BK has a trailing yield of 1.79% on the current share price of $108.43.

Service Properties Trust (SVC) is also set to go ex-dividend on Monday. The next dividend payment from SVC will amount to $0.01 per share. October 27 has been designated as the record date for this dividend, with the actual payout scheduled for November 13. In the previous year, SVC distributed a total of $0.04 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for SVC stands at 1.67% based on the current stock price of $2.4.

Home Federal Bancorp Inc (Louisiana) (HFBL) will be paying out a dividend of $0.14 per share to shareholders holding their shares as of the close of the business hours on the record date of October 27. Over the past 12 months, HFBL has paid out a total of $0.53 per share in dividends. Based on the total dividends paid out last year, HFBL boasts an impressive trailing yield of 3.53% on the current share price of $14.87.

Crypto Market Highlights

• Counter-Strike 2 Update Wipes Out $5.8B Skin Economy
  Valve’s gameplay update triggered a massive market crash, wiping nearly $2B off the Counter-Strike 2 skin market. The change increased the supply of rare knives and gloves, sparking renewed debate on NFTs and digital ownership.

• Relai Secures EU MiCA License for Bitcoin-Only App
  Swiss-based Relai received approval from France’s AMF under MiCA, allowing its Bitcoin-only investment platform to expand across Europe with full regulatory backing.

• JPMorgan to Let Clients Borrow Against Bitcoin and Ether
  JPMorgan is reportedly preparing to allow clients to use BTC and ETH as collateral for loans, marking another step in Wall Street’s adoption of digital assets.

• Thai Regulators Raid Sam Altman’s World Project
  Thailand’s SEC and Cyber Crime Bureau raided an iris-scanning site linked to Sam Altman’s World (formerly Worldcoin) over alleged regulatory breaches, escalating scrutiny of the WLD token program.

• Crypto Treasuries Drain $800B from Altcoin Market
  Institutional crypto treasuries have absorbed roughly $800B from altcoins as liquidity and investor focus shift back to Bitcoin and U.S. crypto equities, leaving the altcoin market stagnant.

Most Shorted Stocks

Red Cat Holdings Inc (RCAT) was one of the most shorted stocks as of latest short interest figures, with 22.96% 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 1.9. This represents a change of 3730000 shares, which corresponds to a +19.90% increase in short interest. The total value of the shares held short is estimated to be around $242.23 million. The average daily volume stands at 10.92M shares, and the market capitalization of the company is $1.27B.

The CytomX Therapeutics Inc with the symbol CTMX currently has a short interest of 19.02%. The short interest has changed by 2410000 shares. The days to cover ratio stands at 9.6. The estimated value of the shares held short is approximately $104.15 million. On an average day, 3.56M shares are traded, with the company's market capitalization totaling $546.68M.

For the stock Arcturus Therapeutics Holdings Inc (ARCT), the current short interest is at 20.68%. This represents a significant short interest change of -810000 shares, corresponding to a short interest percentage decrease of -13.61%. The days needed to cover the short positions amount to 7.8. The approximate worth of the shares held short is $55.61 million.

With the symbol MNRO, the stock currently has a short interest of 19.63%. The short interest change is 130000 shares, compared with a short interest percentage change of +2.35%. It would take approximately 6.2 days to cover all the short positions. The shares short value is estimated to be around $93.65 million. The company boasts an average daily volume of 889.71K shares, contributing to a market capitalization of $546.22M.

The stock URGN has a current short interest of 18.85%. The short interest percentage has experienced increase of +9.82% while there was a change of 780000 shares in short interest. The ratio indicating the time required to cover short positions is 7.2. The calculated worth of the shorted shares amounts to around $103.82 million. Trading activity averages at 1.12M shares per day, while the company's market capitalization stands at $847.10M.

Energy Stocks to Watch

According to our ST Score evaluation, HA Sustainable Infrastructure Capital Inc (HASI) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 65. The stock's profitability, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of performance, growth, stock sentiment, and forecast.

Our ST Score also classifies Torm Plc (TRMD) as a high-quality Energy stock today, presenting a Score of 61. The stock has strong fundamentals in terms of profitability, performance, financial strength, and Piotroski Score. The growth, stock sentiment, and forecast are neutral.

Another stock in the category, Shoals Technologies Group Inc (SHLS) has the ST Score of 60, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, and Piotroski Score but weak in growth. Financial strength, stock sentiment, and forecast suggest a neutral outlook.

Teekay Corporation Ltd (TK) stock has the ST Score of 60 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its performance, financial strength, and Piotroski Score, but its weaknesses are in its growth. However, it shows neutral outlook in profitability, stock sentiment, and forecast.

Uranium Royalty Corp (UROY) currently has the ST Score of 58, which signifies a huge upward potential. The Energy stock's strong points are its profitability, and financial strength. The stock's performance, growth, stock sentiment, Piotroski Score, and forecast indicate a neutral outlook.

That's it for today. Thanks for reading. Good luck out there!

Best Regards,

Stocks Telegraph Team

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