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Tech heavyweights powered a renewed rally, pushing U.S. stocks within striking distance of a record high. Investors are betting on the Fed adopting a dovish stance on interest rates, which could translate to higher profits for major companies. The S&P 500 has cracked the 5,000 barrier, marking another record high and eyeing its fifth consecutive week of gains.

As of 11:45 AM ET, the Dow was down -136.3477 points, or -0.3521%, at $38589.98. The Nasdaq Composite added 131.6641 points, or 0.7404%, at $17914.83. The S&P 500 rose 13.21 points, or 0.2643%, at $5011.12. Among the 11 major S&P 500 sectors, 7 showed negative movement, with Energy leading the way with a -0.97% decrease. 

Friday's market rally was fueled by a government report revision, which confirmed previously reported inflation levels for the end of 2023. This unexpected news, typically overlooked by investors, eased concerns about rising prices and boosted market sentiment. Hopes that recent declines in inflation will pressure the Fed to lower interest rates, coupled with evidence of stable economic expansion, are fueling gains across the markets.

Top Movers: Under $10

Intelligent Bio Solutions Inc (INBS) is up 223.95% today to trade at the current level of $9.33. This comes after the company reported fiscal second quarter and six-month financial results.

Nanostring Technologies Inc (NSTG) zoomed 97.33% in today’s trade to $0.23 following the completion of financing to support restructuring process.

In current trading, Better Choice Company Inc (BTTR) stock is at $0.25 after announcing the acquisition of all the issued and outstanding common shares of Aimia Pet Healthco Inc.

1847 Holdings LLC (EFSH) rose 34.42% in the early hours of today's trading to move at $1.86. The company announced pricing of $5.0 million public offering.

In the current trading session, Inotiv Inc (NOTV) jumped 17.44% to $5.05 over a previous close of $4.30 following Jefferies' upgrade from Hold to Buy, with a price target of $11.50.

Ex-Dividends Stocks

Baker Hughes Co (BKR) 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 $0.21 per share. It has fixed February 13 as the record date for the same and will pay the actual dividend on February 23. Last year, the company distributed a total of $0.83 to its shareholders. Based on the last year's worth of payments, BKR has a trailing yield of 2.86% on the current stock price of $29.04.

Another stock that is shelling out dividends on Monday is Helmerich & Payne, Inc. (HP), having a market capitalization of $3.72B. It will pay a dividend of $0.42 per share, the payment date of which is February 27. Currently, the stock is trading at a trailing dividend yield of 3.78%.

Shares of Paychex Inc. (PAYX) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.89 per share, and in the last 12 months, it paid a total of $3.49 per share. Last year's total dividend payments show that PAYX has a trailing yield of 2.86% on the current share price of $122.04.

Sabra Healthcare REIT Inc (SBRA) is also set to go ex-dividend on Monday. The next dividend payment from SBRA will amount to $0.3 per share. February 13 has been designated as the record date for this dividend, with the actual payout scheduled for February 29. In the previous year, SBRA distributed a total of $1.20 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for SBRA stands at 8.93% based on the current stock price of $13.44.

Southern Copper Corporation (SCCO) will be paying out a dividend of $0.8 per share to shareholders holding their shares as of the close of the business hours on the record date of February 13. Over the past 12 months, SCCO has paid out a total of $3.06 per share in dividends. Based on the total dividends paid out last year, SCCO boasts an impressive trailing yield of 3.83% on the current share price of $79.87.

Crypto Market Highlights

Most Shorted Stocks

Lovesac Company (LOVE) was one of the most shorted stocks as of latest short interest figures, with 26.76% 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 9.7. This represents a change of 20000 shares, which corresponds to a +0.56% increase in short interest. The total value of the shares held short is estimated to be around $85.85 million. The average daily volume stands at 316.86K shares, and the market capitalization of the company is $368.35M.

The Big Lots Inc with the symbol BIG currently has a short interest of 24.87%. The short interest has changed by 140000 shares. The days to cover ratio stands at 4.7. The estimated value of the shares held short is approximately $37.71 million. On an average day, 1.41M shares are traded, with the company's market capitalization totaling $162.76M.

For the stock EVgo Inc (EVGO), the current short interest is at 22.9%. This represents a significant short interest change of -1,255,605 shares. The days needed to cover the short positions amount to 12.34. The approximate worth of the shares held short is $2.76 million.

With the symbol EBS, the stock currently has a short interest of 23.76%. The short interest change is 150000 shares, compared with a short interest percentage change of +1.29%. It would take approximately 8.6 days to cover all the short positions. The company boasts an average daily volume of 1.34M shares, contributing to a market capitalization of $87.16M.

The stock WW has a current short interest of 22.37%. The short interest percentage has experienced increase of +2.97% while there was a change of 510000 shares in short interest. The ratio indicating the time required to cover short positions is 3.5. The calculated worth of the shorted shares amounts to around $60.4 million. Trading activity averages at 5.00M shares per day, while the company's market capitalization stands at $404.10M.

Energy Stocks to Watch

According to our ST Score evaluation, Geospace Technologies Corp (GEOS) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 67.0. The stock's profitability, performance, growth, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of value, stock sentiment, and forecast.

Our ST Score also classifies Tsakos Energy Navigation Limited (TNP) as a high-quality Energy stock today, presenting a Score of 69.0. The stock has strong fundamentals in terms of valuation, profitability, performance, growth, financial strength, and stock sentiment. The Piotroski Score, and forecast are neutral.

Another stock in the category, DHT Holdings Inc (DHT) has the ST Score of 69.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, growth, financial strength, stock sentiment, and Piotroski Score. Value, and forecast suggest a neutral outlook.

Dorian LPG Ltd (LPG) stock has the ST Score of 67.0 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its valuation, profitability, growth, financial strength, stock sentiment, and Piotroski Score, but its weaknesses are in its performance. However, it shows neutral outlook in forecast.

PBF Energy Inc (PBF) currently has the ST Score of 65.0, which signifies a huge upward potential. The Energy stock's strong points are its valuation, profitability, performance, and financial strength. The stock's growth, stock sentiment, Piotroski Score, and forecast indicate a neutral outlook.