Momentum Movers

• $TEVA up 26% after the company and Sanofi announced that primary endpoints were met in Phase 2b trial of Duvakitug for ulcerative colitis and Crohn’s disease.
• $QUBT up 51% after the company announced it was awarded a prime contract by NASA to apply Dirac-3 for imaging and data process support. Other quantum computing related stocks such as $ARQQ, $RGTI, and $QBTS were also trading higher on heavy volume.
• $MRVL down 10%, possibly related to news that AIchip Technologies N3 AI project likely to win U.S. CSP. 
• $PFE up 4% after announcing it achieved its goal of $4B in net cost savings through 2024, and the company anticipates $500M in savings in 2025.
• $FOXA up 4% after the company announced its digital presence reached 2.4B total multiplatform views in November. 
• $MSTR down 5% on no particular news as $BTC hovered around $106K. 
• $VIX up 8% as protection buying into tomorrow’s Fed meeting ticked up.
• $TSLA up 3% after Mizuho upgraded the stock and raised its price target to $515. 
• $RCAT down 7% after the company reported worse-than-expected financial results. 
• $UNH down 2% as the stock continued its slide lower as Luigi Mangione was indicted for murder of UnitedHealthcare CEO. 

Sector Performance

Market News 

• BofA said the Fed will cut rates by .25% and will likely signal a pause in January. 
• China plans a record budget deficit to boost 5% growth target. 

Upcoming Events 12/18/24 

• Fed Interest Rate Decision
• FOMC Press Conference 
• Earnings: $GIS, $ABM, $MU, $LEN, $MLKN, $WS, $BIRK, $TTC, $SCS, $OGI, $EPAC