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November 1, 2024: Top Pre-Market Stocks to Watch

$DJT $NVDA $AAPL

#StockMarket #PreMarket #DJT #NVDA #INTC #SQQQ #AMZN #AAPL #NASDAQ #Investing #TechStocks #TrumpMedia

The NASDAQ 100 Pre-Market Indicator is showing positive momentum, climbing 129.16 points to sit at 20,019.58. This bullish movement suggests that market participants are positioning themselves optimistically before the regular session begins. The trading activity is also significant, with an overall pre-market volume of 77,947,590 shares exchanged. This robust volume may reflect traders recalibrating their portfolios, particularly in light of recent earnings announcements and geopolitical developments. Traders are eyeing not only the tech giants but also newer sectors like media platforms with direct political ties.

Among the stocks taking center stage during the pre-market session is Trump Media & Technology Group Corp. (DJT), which saw a decline of $2.93, down to $32.41 per share. A substantial 6,303,996 shares of DJT changed hands, making it one of the most active in today’s early trading. The drop comes amid ongoing political scrutiny around Trump-linked businesses, which often face heightened volatility based on economic announcements or legal matters. Investors are likely weighing these risks carefully, as political involvement can bring both volatility and potential upside, depending on the general mood in the market and regulatory outlook.

Tech heavyweights such as NVIDIA (NVDA) and Apple (AAPL) continue to influence the broader NASDAQ Index. NVIDIA has been at the forefront of the artificial intelligence and gaming sectors, which are pivotal in tech’s ongoing growth story. That said, NVDA may face supply chain headwinds, inflation costs, or chip shortages that could hamper growth in the short term. Meanwhile, Apple continues to benefit from a strong ecosystem and customer loyalty, which has buffered it against market downturns. Both companies remain critical bellwethers, as their performance and forward guidance give insight into broader tech trends and consumer confidence.

As we move into the day, stocks like Intel (INTC), Amazon (AMZN), and ProShares UltraPro Short QQQ ETF (SQQQ) are also seeing increased activity. Intel remains in a transformative phase, seeking to harness next-generation chip technology to claw back market share in an increasingly competitive semiconductor landscape. Amazon, despite grappling with regulation and competition, remains a crucial part of the e-commerce landscape and could benefit from continued digital shopping trends. Meanwhile, inverse ETFs like the SQQQ, which allows investors to hedge against or bet on the downturn of the NASDAQ, remain popular among shorter-term traders looking for moves in either direction as market volatility increases. Market participants should continue to keep an eye on geopolitical factors, earnings reports, and inflation data, which will drive sentiment as the day progresses.