Momentum Movers

• $QUBT up 65%, while other quantum computing-related stocks such as $RGTI, $IONQ, and $QBTS surged as well. Members of the US Congress recently introduced a bill that could authorize $2.7B in federal funding for quantum technologies. 
• $TSLA up 6% after Wedbush raised its price target on the stock to $515. 
• $SMCI down 8% after it was announced that the company will be removed from the Nasdaq 100 index later this month. 
• $AVGO up 11% after recently reporting strong earnings and guidance and multiple firms raised their price targets on the stock.
• $IBIT up 4% as Bitcoin rallied to new highs today.
• $MU up 5% in anticipation of its earnings release on Wednesday, 12/18/24. 
• $VRDN up 20% after the company announced Phase 3 results for its thyroid eye disease treatment trial.
• $PSX down 5% after the company announced its 2025 capital budget and disclosed its agreement to sell DCP GCX Pipeline LLC. 
• $CVS down 5% after Trump commented that his administration would seek to lower drug prices by targeting companies acting as “middlemen”. 
• $AEHR up 25% after the company announced it secured a $10M order for AI semiconductor testing. 

Sector Performance 

Market News

• $BTC made new all-time highs, crossing $107K Monday afternoon. 
• FTX’s chapter 11 plan is set to go into effect on January 3rd, 2025. 
• US services sector beat expectations with a robust PMI reading. 

Upcoming Events 12/17/24 

• Manufacturing Production
• 20-Year Bond Auction
• Earnings: $AMTM, $HEI, $REE