Buckle up for today's Fed meeting 🎢

U.S. benchmarks climbed on Tuesday after May's CPI report showed inflation continued to cool last month. The Dow added 0.4%, and the S&P 500 gained 0.6%. The Nasdaq outperformed with a 0.8% gain, and the small-cap Russell 2K rallied 1.2%.

S&P 500 contracts are up about 0.1% in early premarket trading.

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💲 Federal Reserve Policy Meeting Preview

The Federal Reserve will announce this month's interest rate policy decision this afternoon, and the market will be listening closely for clues about what's next for the central bank.
Policymakers have signaled that they will likely hold rates steady at the upcoming meeting, but there could be still be more rate hikes ahead. Fed Chair Jerome Powell's tone at the post-announcement press conference could also have a major influence on the today's trading session. If Powell sounds particularly hawkish, it could be a volatile trading day.

My Take: AMD is facing stiff resistance at $125 per share, but an Amazon deal could help it break through. This could be a "buy the rumor" opportunity.

NextDecade just landed a substantial investment.

Early Wednesday morning, French energy major TotalEnergies announced it will buy a 17.5% stake in the U.S. natural gas developer for $219 million.

The investment is part of a broader deal that will enable NextDecade's Rio Grande LNG export project to proceed.

TotalEnergies said the deal will add 5.4 million tons per year of LNG to its global portfolio and provide further security for Europe's gas supply.

NEXT is up 28.4% on news of the investment.

My Take: NEXT could be a promising LNG play. Europe has significantly boosted imports of U.S. LNG since sanctions were imposed against Russian exports in 2022, and the added demand could drive substantial earnings growth.

Inventiva [IVA] - Last Close: $3.67

Upbeat drug data is giving Inventiva a big boost in today's premarket.

Early this morning, the drug company announced positive topline results from a Phase 2 study of lanifibranor in patients with NAFLD and type 2 diabetes mellitus.

Inventiva said the study met its primary efficacy endpoint with a 44% reduction of fat in the bloodstream compared to 12% in the placebo arm.

The study also met multiple secondary metabolic endpoints, and results were consistent with previous findings from a Phase 2b NATIVE trial.

The drug also produced a favorable safety and toleribility profile.

IVA is up 32.1% after the promising clinical data release.

My Take: IVA appears to be entering a new positive trend. This tiny biotech could be worth watching as a speculative trade candidate.

Blue Water Vaccine [BWV] - Last Close: $0.79

Blue Water Vaccine is rallying after announcing several key acquisitions.

According to an early morning statement, the biotech firm has acquired six FDA-approved drugs from WraSer and Xspire Pharma.

Blue Water Vax says the purchased drugs include treatments for cardiology, otic infections, and pain management.

Under the terms of the deal, Blue Water will pay $8.5 million in cash, plus 1 million shares of BMV common stock on the closing date.

BMV is today's top premarket stock with a 118.9% gain on active trading volume.

My Take: BMV picked up these drugs at a steal of a price, and today's spike could help it pivot away from its downtrend.

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