Dear Readers,

The S&P 500 rose Wednesday, led by a record-breaking performance from Nvidia and fueled by investor optimism about potential interest rate cuts from the Federal Reserve.

At 11:09 AM ET, the Nasdaq Composite added 215.15 points, or 1.1533%, at $18869.9837. The S&P 500 rose 28.3203 points, or 0.5352%, at $5319.66 meanwhile the Dow was down -41.0273 points, or -0.106%, at $38670.26. Among the 11 major S&P 500 sectors, 7 showed positive movement, with Health Care leading the way with a 1.21% increase.

Disappointing jobs data from ADP fueled speculation that the Federal Reserve might lower interest rates to address a potentially weakening labor market. While the services sector showed continued growth, some investors worry that overall economic data might be too weak for rate cuts to be a clear benefit. All eyes are now on jobless claims data tomorrow and the crucial May jobs report on Friday.

Top Movers: Under $10

ENDRA Life Sciences Inc (NDRA) is up 100.12% today to trade at the current level of $0.17. This comes after ENDRA Life Sciences Inc. revealed that it has priced a public offering with gross proceeds to the Company expected to be approximately $8.0 million, before deducting placement agent fees and other estimated expenses payable by the Company.

Moving iMage Technologies Inc. (MITQ) zoomed 60.00% in today’s trade to $1.12. This rally can be attributed to news that Moving iMage Technologies announced that it was awarded a new Alamo Drafthouse project for the new Georgetown location expected to open this Summer in Indianapolis, Indiana.

In current trading, Siyata Mobile Inc (SYTA) stock is at $1.74 following news that Siyata Mobile Inc. announced its partnership with JD Telecom, a premier telecom solutions provider of commercial-grade vehicle solutions and a strategic distribution partner for T-Mobile, to expand distribution of its SD7 handsets, VK7 Vehicle Kits and related components.

mF International Ltd (MFI) rose 24.62% in the early hours of today's trading to move at $1.62. This sharp rally comes without any clear news from the company.

In the current trading session, 3D Systems Corp. (DDD) jumped 20.95% to $4.18 over a previous close of $3.46 as, 3D Systems announced its expanded focus and technology roadmap tailored to deliver the largest range of solutions for a growing digital dentistry market.

Ex-Dividends Stocks

Aris Water Solutions Inc (ARIS) 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 $0.1 per share. The company has fixed June 06 as the record date for the same and will pay the actual dividend on June 20. Last year, the company distributed a total of $0.36 to its shareholders. Based on the last year's worth of payments, ARIS has a trailing yield of 2.39% on the current stock price of $15.05.

Another stock that is shelling out dividends tomorrow is Dun & Bradstreet Holdings Inc (DNB), having a market capitalization of $4.17B. It will pay a dividend of $0.05 per share, the payment date of which is June 20. Currently, the stock is trading at a trailing dividend yield of 1.59%.

Shares of Flowers Foods, Inc. (FLO) will be the talk of stock market on Thursday as the stock will turn ex-dividend. The company's next dividend payment will be $0.24 per share, and in the last 12 months, the company paid a total of $0.92 per share. Last year's total dividend payments show that FLO has a trailing yield of 3.98% on the current share price of $23.10.

Tomorrow, Mosaic Company (MOS) is also set to go ex-dividend tomorrow. The next dividend payment from MOS will amount to $0.21 per share. June 06 has been designated as the record date for this dividend, with the actual payout scheduled for June 20. In the previous year, MOS distributed a total of $0.61 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for MOS stands at 2.10% based on the current stock price of $29.09.

Noble Corp Plc (NE) will be paying out a dividend of $0.4 per share to shareholders holding their shares as of the close of the business hours on the record date of June 06. Over the past 12 months, NE has paid out a total of $1.10 per share in dividends. Based on the total dividends paid out last year, NE boasts an impressive trailing yield of 2.58% on the current share price of $42.70.

Crypto Market Highlights

• Bitcoin surged to a multi-week peak of over $71,250 after surpassing the $70,000 mark, driving a daily $80 billion increase in the crypto market, with altcoins like Binance Coin also posting significant gains alongside BTC's rally.

• Uzbekistan's highest Islamic authority has rescinded a fatwa against cryptocurrency, attributing its initial issuance to "carelessness" and stating that further study on the matter is ongoing. The move comes amid ongoing regulatory debates globally regarding the status and implications of cryptocurrencies.

• A recent study by Triple-A reveals a milestone in the cryptocurrency realm, with global investors surpassing 500 million, highlighting the growing mainstream acceptance of digital assets. Led by regions like Asia and North America, particularly notable is Asia's significant segment of 326.8 million crypto investors.

• KBank, a Korean digital bank heavily reliant on deposits from the Upbit crypto exchange, faces potential profit loss. This is due to a new law requiring interest payments on such deposits, a move that could significantly impact its financial standing, particularly as it prepares for a stock exchange listing.

• Austrian cryptocurrency exchange Bitpanda has formed a partnership with Deutsche Bank, enabling Bitpanda users to access German IBANs for real-time conversion of crypto to fiat and vice versa. This collaboration signifies a cautious but significant move for Deutsche Bank into the realm of cryptocurrency.

Most Shorted Stocks

Zentalis Pharmaceuticals Inc (ZNTL) was one of the most shorted stocks as of latest short interest figures, with 26.09% 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 24.4 Days to Cover. This represents a change of 1030000 shares, which corresponds to a +5.89% increase in short interest. The total value of the shares held short is estimated to be around $210.87 million. The average daily volume stands at 712.66K shares, and the market capitalization of the company is $808.05M.

The Guess Inc. with the symbol GES currently has a short interest of 32.55%. The short interest has changed by 40000 shares. The days to cover ratio stands at 6.5 Days to Cover. The estimated value of the shares held short is approximately $206.67 million. On an average day, 1.50M shares are traded, with the company's market capitalization totaling $1.25B.

With the symbol MED, the stock currently has a short interest of 30.42%. The short interest change is 120000 shares, compared with a short interest percentage change of +3.85%. It would take approximately 7.2 Days to Cover days to cover all the short positions. The company boasts an average daily volume of 465.21K shares, contributing to a market capitalization of $230.89M.

The stock ALLO has a current short interest of 30.07%. The short interest percentage has experienced increase of +7.56% while there was a change of 2560000 shares in short interest. The ratio indicating the time required to cover short positions is 15.7 Days to Cover. The calculated worth of the shorted shares amounts to around $7.55 million. Trading activity averages at 2.49M shares per day, while the company's market capitalization stands at $486.21M.

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 58.0. The stock's profitability, and financial strength are strong. Additionally, it is neutral in terms of value, performance, growth, stock sentiment, Piotroski Score, and forecast.

Our ST Score also classifies Aehr Test Systems (AEHR) as a high-quality EV stock today, presenting a Score of 59.0. The stock has strong fundamentals in terms of profitability, and financial strength. The value, performance, growth, stock sentiment, Piotroski Score, and forecast are neutral.

Another stock in the category, Kandi Technologies Group Inc (KNDI) has the ST Score of 46.0, which means that the stock carries the potential for higher returns. The stock is strong in financial strength but weak in Piotroski Score. Value, profitability, performance, growth, stock sentiment, and forecast suggest a neutral outlook.

Toyota Motor Corporation ADR (TM) stock has the ST Score of 51.0 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.

Baidu Inc ADR (BIDU) currently has the ST Score of 52.0, which signifies a huge upward potential. The EV stock's strong points are its valuation, profitability, stock sentiment, and Piotroski Score, while its weak points are its growth, and financial strength. The stock's performance, and forecast indicate a neutral outlook.

Best Regards,
Stocks Telegraph Team