U.S. Weighs Chip Exports Restrictions; Futures D own 📉

Stocks rallied back on Tuesday, with the tech-laden Nasdaq leading the push higher. The Dow added 0.6% and the S&P 500 gained 1.1%. The Nasdaq led with a 1.6% gain, and the small-cap Russell 2K rallied 1.4%.

Today, futures are down in early morning trading. S&P 500 contracts are currently showing a 0.1% loss.

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💻 U.S. Weighs New Restrictions on Chip Exports

The White House is considering new restrictions on the export of AI-capable chips to China, according to a Wall Street Journal exclusive published this morning.

According to the report, the U.S. Commerce Dept. could move to block chip exports from Nvidia, AMD,and other high-tech chip suppliers as soon as next month.

My Take: FI is running hot, and it just broke through a key resistance point. There could be more gains ahead for this under-the-radar performer.

Opko Health [OPK] - Last Close: $1.66

A new drug approval is lifting shares of Opko Health.

This morning, the company and its partner Pfizer announced the FDA had approved its Ngenla drug compound for pediatric growth hormone deficiency.

The once-weekly human growth hormone analog will be available for U.S. prescriptions starting in August, the companies said in their statement.

OPK is up 18.6% on news of the drug approval.

My Take: OPK has been in a nice positive trend since the start of the month, and it could find new support at $1.90 per share if it can hold onto its gains.

Theriva Biologics [TOVX] - Last Close: $0.8276

Theriva Bio is up after clearing a key regulatory milestone.

The micro-cap biotech said the FDA granted an Orphan Drug Designation (ODD) for VCN-01 as a treatment for pancreatic cancer.

Theriva's VCN-01 is currently undergoing a Phase 2b trial, including 92 adults across 25 sites in Europe and the U.S.

Previously, VCN-01 also received an ODD from the FDA as a treatment from retinoblastoma.

TOVX is trading actively with a 63.1% gain on the news.

My Take: TOVX has been locked in a sideways trading pattern since April, but it's finally beginning to break out. Shares could be on course for more gains in the weeks ahead if they can maintain their momentum.

Exponential Fitness [XPOF] - Last Close: $15.72

Exponential Fitness is rebounding from a big sell-off on Tuesday.

The gym operator was the subject of a scathing short report from Fuzzy Panda Research that sent shares tumbling to a 37.4% loss yesterday.

The report, which called the firm "an abusive franchise that is a house of cards" accused the company and its CEO of wide-ranging dishonestly and fraud.

However, Raymond James came out in support of the company, maintaining a strong buy rating and a $40 price target on the stock following the report.

Exponential Fitness itself has yet to respond, but shares are already rebounding from Tuesday's selloff.

XPOF is up 13.9% in early-morning trading.

My Take: I wouldn't touch this one with a ten-foot pole. If you're tempted, I suggest you read Fuzzy Panda Research's short report before you do anything rash. This company could be in trouble.

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