Dear Readers,

Stocks experienced a downturn on Tuesday following a robust recovery in the previous session, with investors keeping a close eye on the Federal Reserve's upcoming rate decision and a wave of corporate earnings reports.

At latest check, the Dow was down -5.332 points, or -0.0162%, at $32923.63. The Nasdaq Composite added 0.5908 points, or 0.0041%, at $14336.098. The S&P 500 rose 5.8901 points, or 0.1414%, at $4172.71. Among the 11 major S&P 500 sectors, 8 showed positive movement, with Real Estate leading the way with a 0.45% increase.

Meanwhile, Treasury yields moved lower, influenced by the government's reduction in its borrowing estimate for the fourth quarter.

As anticipation builds for the Federal Reserve's expected decision to maintain interest rates unchanged on Wednesday, the key factor to watch will be Chairman Jerome Powell's remarks, which are poised to shape the future direction of the markets and influence bond yields.

Additionally, Friday's release of the October jobs report is set to be another pivotal event that could significantly impact market dynamics in the days ahead.

Top Movers: Under $10

SciSparc Ltd (SPRC) is up 66.86% today to trade at the current level of $5.69. This comes after news that it has been granted patent from the Australian Patent Office for its reduction of opioids use in pain management technology.

Cardio Diagnostics Holdings Inc (CDIO) zoomed 61.82% in today’s trade to $0.34 after winning innovative technology contract with Vizient for AI-Driven precision heart disease tests.

In current trading, BioVie Inc (BIVI) stock is up 17% at $4.49. This rally can be attributed to an upcoming conference call and webcast on Wednesday November 1, 2023 at 8:00 AM ET where the management and key opinion leader are set to highlight recent data on NE3017.

Pop Culture Group Co Ltd (CPOP) rose 34.96% in the early hours of today's trading to move at $1.90. The strong performance of CPOP stock came despite no apparent reason.

In the current trading session, X4 Pharmaceuticals Inc (XFOR) jumped 15.37% to $0.85 over a previous close of $0.73 after it revealed FDA acceptance with priority review of U.S. NDA for Mavorixafor in WHIM Syndrome.

Ex-Dividends Stocks

ASML Holding NV (ASML) 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 $1.3 per share. The company has fixed November 02 as the record date for the same and will pay the actual dividend on November 10. Last year, the company distributed a total of $6.65 to its shareholders. Based on the last year's worth of payments, ASML has a trailing yield of 1.11% on the current stock price of $600.03.

Another stock that is shelling out dividends tomorrow is Hope Bancorp Inc (HOPE), having a market capitalization of $1.05B. It will pay a dividend of $0.14 per share, the payment date of which is November 16. Currently, the stock is trading at a trailing dividend yield of 6.38%.

Shares of Northwest Bancshares Inc (NWBI) will be the talk of stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.2 per share, and in the last 12 months, the company paid a total of $0.80 per share. Last year's total dividend payments show that NWBI has a trailing yield of 7.69% on the current share price of $10.40.

Tomorrow, Trimas Corporation (TRS) is also set to go ex-dividend tomorrow. The next dividend payment from TRS will amount to $0.04 per share. November 02 has been designated as the record date for this dividend, with the actual payout scheduled for November 09. In the previous year, TRS distributed a total of $0.16 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for TRS stands at 0.66% based on the current stock price of $24.24.

Independent Bank Group Inc (IBTX) will be paying out a dividend of $0.38 per share to shareholders holding their shares as of the close of the business hours on the record date of November 02. Over the past 12 months, IBTX has paid out a total of $1.52 per share in dividends. Based on the total dividends paid out last year, IBTX boasts an impressive trailing yield of 4.29% on the current share price of $35.51.

Crypto Market Highlights

Most Shorted Stocks

2seventy bio Inc (TSVT) was one of the most shorted stocks as of latest short interest figures, with 33.33% 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 9.3. This represents a change of -450000 shares, which corresponds to a -2.96% decrease in short interest. The total value of the shares held short is estimated to be around $36.33 million. The average daily volume stands at 1.71M shares, and the market capitalization of the company is $123.46M.

The Trupanion Inc with the symbol TRUP currently has a short interest of 32.54%. The short interest has changed by 330000 shares. The days to cover ratio stands at 16.3. The estimated value of the shares held short is approximately $228.46 million. On an average day, 657.30K shares are traded, with the company's market capitalization totaling $867.30M.

The stock CHPT has a current short interest of 32.11%. The short interest percentage has experienced an increase of +23.36%% while there was a change of 17200000 shares in short interest. The ratio indicating the time required to cover short positions is 6.9. The calculated worth of the shorted shares amounts to around $31.14 million. Trading activity averages at 13.54M shares per day, while the company's market capitalization stands at $887.52M.

EV Stocks to Watch

According to our ST Score evaluation, Li Auto Inc ADR (LI) emerges as a high-quality stock in the EV industry, attaining an impressive score of 62.0. The stock's profitability, growth, financial strength, and Piotroski Score are strong. However, its value is weak. Additionally, it is neutral in terms of performance, stock sentiment, and forecast.

Our ST Score also classifies Cirrus Logic, Inc. (CRUS) as a high-quality EV stock today, presenting a Score of 56.0. The stock has strong fundamentals in terms of profitability, financial strength, stock sentiment, and Piotroski Score. However, it has weak growth. The value, performance, and forecast are neutral.

Another stock in the category, Albemarle Corp. (ALB) has the ST Score of 55.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, profitability, and growth but weak in forecast. Performance, financial strength, stock sentiment, and piotroski score suggest a neutral outlook.

Toyota Motor Corporation ADR (TM) stock has the ST Score of 54.0 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its profitability, and Piotroski Score, but its weaknesses are in its growth, and financial strength. However, it shows neutral outlook in value, performance, stock sentiment, and forecast.

Enersys (ENS) currently has the ST Score of 55.0, which signifies a huge upward potential. The EV stock's strong points are its profitability, and stock sentiment, while its weak points are its financial strength. The stock's value, performance, growth, Piotroski Score, and forecast indicate a neutral outlook.