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- Jun 07 - NH - Morning Newsletter (with survey at top and bottom)
Jun 07 - NH - Morning Newsletter (with survey at top and bottom)
The Early Bird’s Guide to the Stock Market: 4 Stocks You Need to Know
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Good Morning!
Investors braced themselves for another rollercoaster ride as U.S. stock futures took a downward turn on Wednesday. With limited positive news to lift sentiment, concerns about the global economic outlook and uncertainty surrounding the Federal Reserve's upcoming monetary policy decision weighed heavily on the market.Futures for the Dow Jones Industrial Average stepped back by 50 points, representing a 0.2% decline, following a modest 10-point gain on Tuesday that brought the index to a close at 33,573. Meanwhile, S&P 500 futures dipped 0.1%, while contracts for the tech-heavy Nasdaq were down 0.2%.This week, gloomy economic data from various parts of the world has intensified worries about global growth. Whether it's the significant contraction in German factory orders or the sharp decline in Chinese exports, these indicators have dampened sentiment, especially in the absence of major positive catalysts within the U.S.Investors are eagerly awaiting the Federal Reserve's policy-setting committee meeting scheduled for June 13 and 14, as it will determine the central bank's next steps on interest rates. With signs of economic slowdown and easing inflationary pressures, the market has increasingly priced in a potential pause in rate hikes after more than a year of continuous increases.However, expectations are expected to shift once again following the release of the U.S. consumer-price index (CPI) for May on June 13. This crucial inflation data will provide further insights and potentially impact the market's outlook on the Fed's future moves.
Could this hidden gem be poised for a rebound?
The demand for precious metals, especially gold, is growing due to technological advancements!
Canada's gold mining industry is expected to rise with better technology to access new deposits and increase recovery rates.
We know a company well positioned to meet this demand. This Gold stock has strategically positioned projects to capitalize on the region's mineral wealth.
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Today Top Movers
Wejo Group Limited (WEJO) stock soared 59.07% to $0.0956 in the pre-market trading following the filing of 8-K form with SEC.
Heliogen Inc. (NYSE: HLGN) shares are trading up 15.79% at $0.2721 at the time of writing after announcing contract with The City of Lancaster, California, for the production of green hydrogen.
Yext Inc. (YEXT) grew over 16.77% at $11.21 in pre-market trading today. The company recently released Q1 fiscal 2024 results.
AVROBIO Inc. (AVRO), a Biotechnology company, rose about 9.63% at $1.195 in pre-market trading Wednesday after filing SC 13G form with SEC.
Five Top Tech Stocks to Own Now
Warren Buffett says that a "climate of fear is your friend when investing; a euphoric world is your enemy."
"The time to buy is when there's blood in the streets, even if the blood is your own."
With a good deal of fear priced into the tech sector, here are five hot stocks to consider.
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Top Upgrades & Downgrades
Roth MKM turned bullish on Yext Inc. (YEXT), upgrading the stock to Buy and assigning a $12.5 price target, representing potential upside of 30.21% from Tuesday's close.
Petroleo Brasileiro S.A. - Petrobras (PBR) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $16.5, suggesting 30.43% additional upside for the stock.
Glaukos Corporation (GKOS) received an upgrade from analysts at Piper Sandler, who also set their one-year price target on the stock to $80. They changed their rating on GKOS to Overweight from Neutral in a recently issued research note.
Earlier Wednesday Jefferies reduced its rating on Paratek Pharmaceuticals Inc. (PRTK) stock to Hold from Buy and assigned the price target to $2.15.
William Blair analysts reduced their investment ratings, saying in research reports covered by the media that its rating for STAAR Surgical Company (STAA) has been changed to Market Perform from Outperform.
Analysts at JMP Securities downgraded Duolingo Inc. (DUOL)'s stock to Market Perform from Market Outperform Wednesday.
3 A.I.-Predicted Stocks to Add to Your Portfolio
Fact: trading with artificial intelligence is not a behemoth task.
Words like neural networks, pattern recognition and deep learning may seem like a giant black box...
Until you're equipped to forecast market trends 1 – 3 days in advance with up to 87.4% proven accuracy, and quickly spot golden opportunities whether the market goes UP or DOWN.
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Latest Insider Activity
Coinbase Global Inc. (COIN) Chief Accounting Officer Jones Jennifer N. announced the sale of shares taking place on Jun 02 at $65.00 for some 1,704 shares. The total came to more than $0.11 million.
Flex Ltd. (FLEX) Chief Executive Officer Advaithi Revathi sold on Jun 06 a total 56,501 shares at $26.10 on average. The insider’s sale generated proceeds of almost $1.47 million.
Diversified Healthcare Trust (DHC) Director PORTNOY ADAM D. declared the purchase of shares taking place on Jun 06 at $1.87 for some 1,603,082 shares. The transaction amount was around $2.99 million.
Akamai Technologies Inc. (AKAM) Chief Executive Officer LEIGHTON F THOMSON bought on Jun 06 a total 267 shares at $93.81 on average. The purchase cost the insider an estimated $25,047.
Nevada Desert more Valuable than Wall Street or Silicon Valley?
It could be true, according to Nevada Governor Steve Sisolak. The state's desert flats contain more lithium than any other geography in the world. And with electric vehicles driving a global boom in demand for lithium-ion batteries, Nevada should be on every investor's radar.
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Important Earnings
Trip.com Group Limited (NASDAQ: TCOM)
. It will announce its Mar 2023 financial results. The company is expected to report earnings of $0.25 per share from revenues of $1.13B in the three-month period.
Analysts expect GameStop Corp. (NYSE: GME) to report a net income (adjusted) of -$0.12 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2023 is predicted to come in at $1.36B.
Smartsheet Inc. (SMAR), due to announce earnings after the market closes today, is expected to report earnings of $0.08 per share from revenues of $214.07M recently concluded three-month period.
That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team
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