Dear Readers,

On Friday, stock markets showed marginal movement as the Dow Jones Industrial Average aimed to build upon its gains for the week, propelling the 30-stock average to record highs.

The S&P 500 is poised to reach its own historic peak, hovering less than 1.6% away from its previous closing high from January 2022. Meanwhile, the Nasdaq remains approximately 8% below its highest-ever close and about 9% shy of its peak intraday level.

Expectations of volatile trading loom as the S&P 500 and Nasdaq-100 undergo rebalancing, incorporating Uber into the S&P 500, along with DoorDash and MongoDB joining the Nasdaq-100. Concerns arise regarding potential disproportionate weightings of certain stocks in these indexes due to the rebalance.

The market experienced a surge this week following the Federal Reserve's acknowledgment on Wednesday that their actions to curb inflation are proving effective. The indication of three projected interest rate cuts in 2024 boosted investor confidence. Additionally, stronger-than-anticipated November retail sales data, coupled with milder inflation figures this week, fostered optimism that the Federal Reserve could achieve a smooth economic transition.

As of 11:36 AM ET, the Dow was up 30.5469 points, or 0.082%, at $37278.9. The Nasdaq Composite added 126.1582 points, or 0.7628%, at $16663.984. The S&P 500 rose 4.1104 points, or 0.0871%, at $4723.66. Among the 11 major S&P 500 sectors, 7 showed positive movement, with Information Technology leading the way with a 0.92% increase.

Top Movers: Under $5

Getaround Inc. (GETR) is up 120.70% today to trade at the current level of $0.36 following the release of its third quarter of 2023 earnings report.

Verrica Pharmaceuticals Inc (VRCA) zoomed 73.67% in today’s trade to $6.53 after announcing that its development and commercialization partner, Torii Pharmaceutical Co., Ltd. reported positive top-line results from its Phase 3 trial of TO-208.

In current trading, Bruush Oral Care Inc. (BRSH) stock is at $0.23. The company announced an agreement and plan of merger with Arrive Technology Inc.

Genius Group Ltd (GNS) rose 12.53% in the early hours of today's trading to move at $0.66 after updating financial guidance for the financial year ending December 31, 2023.

In the current trading session, Hub Cyber Security Ltd (HUBC) jumped 10.65% to $2.26 over a previous close of $2.04 after announcing a key collaboration agreement with one of Israel's top-three military contractors.

Ex-Dividends Stocks

Albany International Corp. (AIN) 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 $0.26 per share. The company has fixed December 19 as the record date for the same and will pay the actual dividend on January 08. Last year, the company distributed a total of $0.90 to its shareholders. Based on the last year's worth of payments, AIN has a trailing yield of 0.94% on the current stock price of $96.07.

Another stock that is shelling out dividends on Monday is PulteGroup Inc (PHM), having a market capitalization of $22.58B. It will pay a dividend of $0.2 per share, the payment date of which is January 03. Currently, the stock is trading at a trailing dividend yield of 0.62%.

Shares of Kaman Corp. (KAMN) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.2 per share, and in the last 12 months, the company paid a total of $0.81 per share. Last year's total dividend payments show that KAMN has a trailing yield of 3.38% on the current share price of $23.89.

Horizon Technology Finance Corporation (HRZN) is also set to go ex-dividend on Monday. The next dividend payment from HRZN will amount to $0.11 per share. December 19 has been designated as the record date for this dividend, with the actual payout scheduled for January 16. In the previous year, HRZN distributed a total of $1.32 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for HRZN stands at 10.08% based on the current stock price of $13.10.

Amphenol Corp. (APH) will be paying out a dividend of $0.22 per share to shareholders holding their shares as of the close of the business hours on the record date of December 19. Over the past 12 months, APH has paid out a total of $0.84 per share in dividends. Based on the total dividends paid out last year, APH boasts an impressive trailing yield of 0.84% on the current share price of $99.58.

Crypto Market Highlights

Most Shorted Stocks

Arbor Realty Trust Inc. (ABR) was one of the most shorted stocks as of latest short interest figures, with 33.0% 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 10.48. This represents a change of -5,879,068 shares. The average daily volume stands at 4.61M shares, and the market capitalization of the company is $2.95B.

The Lemonade Inc with the symbol LMND currently has a short interest of 33.6%. The short interest has changed by -455,731 shares. The days to cover ratio stands at 8.1. On an average day, 1.86M shares are traded, with the company's market capitalization totaling $1.27B.

For the stock Canada Goose Holdings Inc (GOOS), the current short interest is at 38.6%. This represents a significant short interest change of -1,507,051 shares. The days needed to cover the short positions amount to 14.69. The company sees an average daily trading volume of 1.43 million shares, reflecting a market capitalization of $1.30 billion.

With the symbol ALLO, the stock currently has a short interest of 27.9%. The short interest change is 486,563 shares. It would take approximately 14.09 days to cover all the short positions. The company boasts an average daily volume of 2.00M shares, contributing to a market capitalization of $458.56M.

The stock BLNK has a current short interest of 31.1%. There was a change of -581,077 shares in short interest. The ratio indicating the time required to cover short positions is 4.43. Trading activity averages at 3.38M shares per day, while the company's market capitalization stands at $218.75M.

Energy Stocks to Watch

According to our ST Score evaluation, Imperial Petroleum Inc (IMPP) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 68.0. The stock's valuation, financial strength, stock sentiment, and Piotroski Score are strong. Additionally, it is neutral in terms of profitability, performance, growth, and forecast.

Our ST Score also classifies Tsakos Energy Navigation Limited (TNP) as a high-quality Energy stock today, presenting a Score of 66.0. 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, Torm Plc (TRMD) has the ST Score of 64.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, profitability, financial strength, and stock sentiment but weak in performance. Growth, piotroski score, and forecast suggest a neutral outlook.

Scorpio Tankers Inc (STNG) stock has the ST Score of 62.0 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its valuation, profitability, stock sentiment, and Piotroski Score. However, it shows neutral outlook in performance, growth, financial strength, and forecast.

Gulfport Energy Corp. (GPOR) currently has the ST Score of 60.0, which signifies a huge upward potential. The Energy stock's strong points are its profitability, performance, growth, and stock sentiment. The stock's value, financial strength, Piotroski Score, and forecast indicate a neutral outlook.