Futures fall in return from holiday 🇺 🇸

Stocks rolled into the holiday after notching modest gains in Monday's half-day session. The Dow gained less than 0.1%, while the S&P 500 added slightly more than 0.1%. The Nasdaq gained 0.2%, and the small-cap Russell 2K closed perfectly flat.

Today, index futures are falling in response to new data showing weakness in China's service sector economy. Dow and S&P 500 contracts are down 0.4%.

BREAKING: This Could Start a Big Rally 📈

This promising growth stock is in the news again this week, and today's news could be the final push it needs to explode.

The company just opened up a new market that could help it notch double-digit revenue growth in Q3.

It could ultimately provide a major boost to this tiny stock's valuation in the months ahead, but there's still time to get in early.

Get a Full Report on this Up-and-Coming Company Here

🇨🇳 Chinese Economy Shows Weakness

New data on China's services economy showed the sector expanded at a slower-than-expected rate in recent months. The news sparked a drawdown in stocks, as China is a key growth engine for the global economy.

My Take: The upgrade appears to be the only recent news that can explain GPC's movement today, but there could be more to this story. Either way, this stock has been red-hot lately, and it could offer momentum trade opportunities.

My Take: If DWAC can settle this merger, we might see the Truth Social merger finally go through in coming months. Upon closing, DWAC could see a big bump, so this could be worth watching.

Wolfspeed [WOLF] - Last Close: $56.74

Wolfspeed just landed a major supply deal.

This morning, the chip firm said it secured a 10-year deal to supply silicon carbide wafers to Renesas Elctronics Corp. [RNECY].

Under the deal, Wolfspeed will supply high-quality 150 mm silicon carbide bare and epitaxial wafers to Renesas, who expects to begin producing chips in 2025.

The deal also included a $2 billion upfront payment to Wolfspeed, and its production capacity is expected to increase ten-fold under the arrangement.

WOLF is up 16.3% in the wake of the breaking news.

My Take: TSLA is on fire lately. This stock has been going straight up for weeks, aside from a brief pullback a couple of weeks ago. I am bullish.

Impel Pharmaceuticals [IMPL] - Last Close: $1.25

Impel Pharma is on the rise after landing a crucial patent.

On Tuesday, the pharma firm announced it had been granted U.S. Patent for a potential Alzheimer's treatment.

The patent is titled: Respiratory tract delivery of levodopa and DOPA decarboxylase inhibitor for treatment of Parkinson's disease.

The company has yet to release an official statement on the patent, but the market is already reacting to the news.

Shares of IMPL are up 36.3% in Wednesday's premarket.

My Take: Any news pertaining to an Alzheimer's treatment can create a big buzz around a stock, and IMPL is basking in the wave of positive sentiment right now. However, I'm not confident this rally will last, so watch your six.

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