Dear Readers,

The S&P 500 edged up on Thursday, nearing a potential new record high. As 2023 approaches its end with only two trading sessions remaining, major stock averages are set to conclude the year with gains. The Dow Jones and the S&P 500 seem likely to close with increases of around 14% and 25%, respectively.

All three major indexes are heading towards their ninth consecutive week of gains, indicating a robust late 2023 market rally after a challenging third quarter. Notably, the S&P has risen by 11.7% for the quarter, marking its strongest quarterly performance in three years.

Looking ahead to 2024, the broader market's expansion and positive technical trends across major indexes are setting the stage for an optimistic outlook. According to Sarhan of 50 Park, this sets up a promising scenario for stocks next year, with expectations of rate cuts and continued inflation easing.

As of 11:44 AM ET, the Dow was up 45.7617 points, or 0.1215%, at $37702.28. The Nasdaq Composite added 28.5605 points, or 0.1689%, at $16935.361. The S&P 500 rose 6.96 points, or 0.1456%, at $4788.54. Among the 11 major S&P 500 sectors, 7 showed positive movement, with Utilities leading the way with a 0.61% increase. 

Top Movers: Under $10

Cingulate Inc (CING) is up 140.72% today to trade at the current level of $9.60 following the company’s announcement that the Nasdaq exchange would postpone delisting its shares for several weeks.

Sidus Space Inc (SIDU) zoomed 87.87% in today’s trade to $8.21 on news of remarkable 2023 achievements, paving the way for an eagerly anticipated Q1 2024 launch.

In current trading, Microbot Medical Inc (MBOT) stock is at $1.85 after announcing the successful completion of its GLP pivotal pre-clinical study, done under the guidelines of FDA-required levels of planning, controlling, monitoring, and reporting, using a porcine model.

DatChat Inc (DATS) rose 32.76% in the early hours of today's trading to move at $2.76 after reporting the release of its new AI social gaming platform and developer program for game designers and content creators.

In the current trading session, Enveric Biosciences Inc (ENVB) jumped 25.74% to $1.64 over a previous close of $1.30 after announcing that it has named EB-003 as its lead drug candidate from the Company’s next-generation EVM301 Series. EB-003 was selected

Ex-Dividends Stocks

Agilent Technologies Inc. (A) 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 $0.24 per share. The company has fixed January 02 as the record date for the same and will pay the actual dividend on January 24. Last year, the company distributed a total of $0.94 to its shareholders. Based on the last year's worth of payments, A has a trailing yield of 0.67% on the current stock price of $140.16.

Another stock that is shelling out dividends tomorrow is Cardinal Health, Inc. (CAH), having a market capitalization of $24.76B. It will pay a dividend of $0.5 per share, the payment date of which is January 15. Currently, the stock is trading at a trailing dividend yield of 2.03%.

Shares of Micron Technology Inc. (MU) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.12 per share, and in the last 12 months, the company paid a total of $0.36 per share. Last year's total dividend payments show that MU has a trailing yield of 0.42% on the current share price of $86.28.

Quanta Services, Inc. (PWR) is also set to go ex-dividend tomorrow. The next dividend payment from PWR will amount to $0.09 per share. January 02 has been designated as the record date for this dividend, with the actual payout scheduled for January 12. In the previous year, PWR distributed a total of $0.32 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for PWR stands at 0.15% based on the current stock price of $216.10.

CubeSmart (CUBE) will be paying out a dividend of $0.51 per share to shareholders holding their shares as of the close of the business hours on the record date of January 02. Over the past 12 months, CUBE has paid out a total of $1.97 per share in dividends. Based on the total dividends paid out last year, CUBE boasts an impressive trailing yield of 4.20% on the current share price of $47.02.

Crypto Market Highlights

Most Shorted Stocks

Sunrun Inc (RUN) was one of the most shorted stocks as of latest short interest figures, with 18.59% 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 2.8. This represents a change of -4950000 shares, which corresponds to a -10.89% decrease in short interest. The total value of the shares held short is estimated to be around $820.12 million. The average daily volume stands at 14.57M shares, and the market capitalization of the company is $4.41B.

The AnaptysBio Inc with the symbol ANAB currently has a short interest of 18.80%. The short interest has changed by -470000 shares. The days to cover ratio stands at 18.9. The estimated value of the shares held short is approximately $97.52 million. On an average day, 239.57K shares are traded, with the company's market capitalization totaling $575.99M.

For the stock Theravance Biopharma Inc (TBPH), the current short interest is at 20.30%. This represents a significant short interest change of -10000 shares, corresponding to a short interest percentage decrease of -0.11%. The days needed to cover the short positions amount to 23.2. The approximate worth of the shares held short is $105.13 million.

The stock AEHR has a current short interest of 19.13%. The short interest percentage has experienced decrease of -0.36% while there was a change of -20000 shares in short interest. The ratio indicating the time required to cover short positions is 4.7. Trading activity averages at 1.18M shares per day, while the company's market capitalization stands at $804.25M.

Biotech Stocks to Watch

According to our ST Score evaluation, Catalyst Pharmaceuticals Inc (CPRX) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 64.0. The stock's profitability, performance, stock sentiment, and Piotroski Score are strong. However, its value are weak. Additionally, it is neutral in terms of growth, financial strength, and forecast.

Our ST Score also classifies Voyager Therapeutics Inc (VYGR) as a high-quality Biotech stock today, presenting a Score of 60.0. The stock has strong fundamentals in terms of valuation, profitability, and performance. However, it has weak financial strength. The growth, stock sentiment, Piotroski Score, and forecast are neutral.

Another stock in the category, Krystal Biotech Inc (KRYS) has the ST Score of 60.0, which means that the stock carries the potential for higher returns. The stock is strong in performance, financial strength, and stock sentiment but weak in value. Profitability, growth, piotroski score, and forecast suggest a neutral outlook.

Amylyx Pharmaceuticals Inc (AMLX) stock has the ST Score of 59.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its profitability, growth, financial strength, and stock sentiment, but its weaknesses are in its performance. However, it shows neutral outlook in value, Piotroski Score, and forecast.

CytoMed Therapeutics Ltd (GDTC) currently has the ST Score of 52.0, which signifies a huge upward potential. The Biotech stock's strong points are its performance, financial strength, and stock sentiment, while its weak points are its value. The stock's profitability, growth, and forecast indicate a neutral outlook.