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Barclays analyst Andrew Mok maintains RadNet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDNT#NASDAQ">RDNT</a>) with a Overweight and raises the price target from $79 to $85.

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RDNT

Barclays Maintains Overweight on RadNet, Raises Price Target to $85

Earnings

Retail Sales

General

Foot Locker Reports Q3 Comparable Sales Up 2.4%

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Ovid Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OVID#NASDAQ">OVID</a>) with a Buy and maintains $3 price target.

Reiteration

OVID

HC Wainwright & Co. Reiterates Buy on Ovid Therapeutics, Maintains $3 Price Target

Barclays analyst Tim Long maintains Pure Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) with a Equal-Weight and raises the price target from $56 to $61.

PSTG

Barclays Maintains Equal-Weight on Pure Storage, Raises Price Target to $61

VINC

Vincerx Pharma Announced Plans To Implement Cost-controls And Explore Strategic Alternatives To Support Advancing The Phase 1 Study Of VIP943, The Company's Novel CD123-targeted Antibody-drug Conjugate (ADC) Developed With The Company's Next-generation VersAptx Platform

Keefe, Bruyette &amp; Woods analyst Catherine Mealor upgrades Shore Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHBI#NASDAQ">SHBI</a>) from Market Perform to Outperform and raises the price target from $16 to $20.

Upgrades

SHBI

Keefe, Bruyette & Woods Upgrades Shore Bancshares to Outperform, Raises Price Target to $20

Foot Locker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) reported quarterly earnings of $0.33 per share which missed the analyst consensus estimate of $0.41 by 19.51 percent. The company reported quarterly sales of $1.96 billion which missed the analyst consensus estimate of $2.01 billion by 2.82 percent. This is a 1.56 percent decrease over sales of $1.99 billion the same period last year.

Foot Locker Q3 2024 Adj EPS $0.33 Misses $0.41 Estimate, Sales $1.96B Miss $2.01B Estimate

Eli Lilly Announced Topline Results From The SURMOUNT-5 Phase 3b Open-label Randomized Clinical Trial

Needham analyst Serge Belanger reiterates Heron Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRTX#NASDAQ">HRTX</a>) with a Buy and maintains $4 price target.

HRTX

Needham Reiterates Buy on Heron Therapeutics, Maintains $4 Price Target

It would seem that optimists currently see no reason to abandon their bullishness, with the benchmark S&amp;P 500 index again<a href="https://www.benzinga.com/news/earnings/24/12/42308304/sp-500-hits-another-high-as-apple-tops-242-for-the-first-time-fear-index-remains-in-greed-zone"> inking another record close</a>. What's more, the available data appears to justify an acquisitive posture. For example, job openings rose by 372,000 to 7.744 million in October, up from a revised reading of 7.372 million in the prior month. The latest figure also beat analysts' consensus view of 7.48 million.
So far this year, the venerable index has<a href="https://www.benzinga.com/markets/24/12/42309028/sp-500s-record-breaking-streak-in-2024-could-signal-caution-for-investors-in-2025-warn-analysts-stocks-do-not-go-up-forever"> printed 54 all-time highs</a>. In addition to labor market dynamics, the jump in the S&amp;P 500 can be attributed to Federal Reserve rate cuts, excitement over artificial intelligence and President-elect Donald Trump's pro-market policies. Nevertheless, analysts at Ned Davis Research sounded the alarm: the stunning rally may represent too much of a good thing.
"Historical data since 1928 shows that in years when the S&amp;P 500 hit more than 35 record highs, the median gain for the index the following year was a mere 5.8%, falling short of the long-term average of 8%," wrote Benzinga's Navdeep Yadav when covering the news. "In years with at least 50 record highs, the median return was -6% the following year."
Naturally, the concern is that "stocks do not go up forever," analysts quoted in the article remarked, adding that "Perhaps AI will drive another productivity and profit boom that will keep inflation and Fed policy benign. History suggests that is the exception rather than the rule."
To be fair, some notable exceptions exist, such as in 1996, when the benchmark index returned 20% despite inking 77 record highs the previous year. Still, the quoted strategists are quick to point out that these gains stemmed from the dot-com era's productivity spike.
Another warning to consider is the technical framework. While it's easy to celebrate the bull market, the bulk of the equity arena's returns hailed from only a handful of enterprises. "Continued narrowing would set the stock market up for a tougher 2025," the analysts warned.
The Direxion ETF: Investors who have similarly grown skeptical of the market's seemingly relentless march higher can exercise their contrarianism with the Direxion Daily S&amp;P 500 Bear 1X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPDN#NYSE">SPDN</a>). As the financial services provider states on its website, the SPDN is an exchange-traded fund that seeks 100% of the inverse (or opposite) performance of the namesake index.
A key advantage of the S&amp;P 500 bear fund is convenience. SPDN can be acquired in a similar vein to picking up a security. Therefore, investors don't need to participate in the options market, which may add a layer of complexity. However, it's important that traders do not hold their position for longer than one day. Otherwise, the effect of leverage compounding in an inverse fund can lead to value erosion.
The SPDN Chart: To no surprise, the SPDN ETF has been a poor performer this year, losing over 19% of its value since the beginning of January. Still, a possible turnaround has the potential to lead to significant upside.
<ul>
<li>Currently, the inverse fund is struggling against a decisively declining trend channel, punctuated with a price action below key moving averages.</li>
<li>At the same time, while the S&amp;P 500 index has climbed higher, the law of large numbers may be stymieing its progress.</li>
<li>Ideally, SPDN bulls (or market bears) will be looking for a baseline at or above the $10.50 mark, which may signal a sentiment reversal.</li>
</ul>
<figure class="wp-block-image"><img loading="lazy" decoding="async" width="810" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/04064529/image.jpeg" alt="" class="wp-image-676197" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/04064529/image.jpeg 810w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/04064529/image-300x167.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/04064529/image-768x427.jpeg 768w" sizes="(max-width: 810px) 100vw, 810px" /></figure>
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Long Ideas

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Technicals

Trading Ideas

ETFs

SPDN

Skeptical Contrarians May Find Opportunity In Direxion's S&P 500 Bear Fund

Guidance

DLTR

Dollar Tree Revises FY24 Consolidated Net Sales Outlook Range From $30.6B - $30.9B To $30.7B - $30.9B (Est $30.727B), Adjusted EPS Outlook From $5.20 - $5.60 To $5.31 - $5.51 (Est $5.38)

On December 3, 2024, the Board of Directors declared regular dividends on the various series of first preferred shares and a dividend of $1.14 per common share, up 4 cents or 4%, payable on February 1, 2025 to shareholders of record on December 30, 2024.&nbsp;

Dividends

NTIOF

National Bank of Canada Raised Quarterly Dividend By 4% To C$1.14/Share

Barclays analyst Saket Kalia maintains Okta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) with a Equal-Weight and raises the price target from $81 to $96.

OKTA

Barclays Maintains Equal-Weight on Okta, Raises Price Target to $96

Goldman Sachs analyst Mark Delaney maintains Symbotic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) with a Neutral and lowers the price target from $34 to $28.

Goldman Sachs Maintains Neutral on Symbotic, Lowers Price Target to $28

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates Cartesian Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNAC#NASDAQ">RNAC</a>) with a Buy and raises the price target from $41 to $45.

RNAC

HC Wainwright & Co. Reiterates Buy on Cartesian Therapeutics, Raises Price Target to $45

Barclays analyst Blayne Curtis maintains Marvell Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) with a Overweight and raises the price target from $85 to $115.

MRVL

Barclays Maintains Overweight on Marvell Tech, Raises Price Target to $115

Dollar Tree Says Family Dollar Review Of Strategic Alternatives Remains On Track

The company has launched an external search and to ensure a smooth transition, Davis has agreed to remain with the company through the filing of its fiscal 2024 Form 10-K.

Management

Dollar Tree,  Jeff Davis Agree That He Will Step Down From His Role As CFO

MKTX

MarketAxess Reported November 2024 Total Average Daily Volume (ADV) Of $44.9 Billion, Up 56% YoY, But Decreased 3% QoQ

U.S. stocks could open on a positive note on Wednesday after the <a href="https://www.benzinga.com/news/global/24/12/42299162/us-stocks-pause-south-korea-etfs-fall-on-political-turmoil-oil-prices-rise-above-70-whats-driving-markets-tuesday">averages maintained a cautious stance on Tuesday</a>. Futures of all three major indices were up on Wednesday, pointing to an optimistic sentiment on Wall Street.
This is a day after the S&amp;P 500 closed at another record high, with AI stocks and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) giving the benchmark index a boost. Markets brushed off rising geopolitical tensions across the world, with South Korean President Yoon declaring an emergency and enforcing martial law.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.51%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.21%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.42%</td>
</tr>
<tr>
<td>R2K</td>
<td>0.07%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.22% to $605.23 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.54% to $519.68, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks closed on a mixed note on Tuesday, with the Dow Jones closing in the red while the Nasdaq and S&amp;P 500 edged up.
Crude oil prices edged up on Wednesday after the U.S. imposed sanctions on 35 Iranian entities.
Treasury yields rose as investors waited for crucial job data to be released.
On the economic data front, the number of job openings rose by 372,000 to 7.744 million in October compared to a revised reading of 7.372 million in September and higher than market estimates of 7.48 million.
Most sectors on the S&amp;P 500 closed on a negative note, with utilities, industrials, and financial stocks recording the biggest losses on Tuesday.
However, communication services and information technology stocks bucked the overall market trend, closing the session higher.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.40%</td>
<td>19,480.91</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.05%</td>
<td>6,049.88</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.17%</td>
<td>44,705.53</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.73%</td>
<td>2,416.35</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ryan Detrick, chief market strategist at Carson Group, maintained his bullish outlook on the prospects of equity markets in December. While December has traditionally been a strong one for investors, another metric shows why bears shouldn't bet against equities this month, according to Detrick.
"When the S&amp;P 500 was up 20% or more for the year heading into the final month, December has been up nine of the past 10 times," said Detrick in his latest note.
Data shows the S&amp;P 500 has gained over 28% since the beginning of 2024 through November, and going by past trends, December looks set to close in the green, too.
It's not just December that could be positive – Detrick's analysis shows that big gains in November set equities on a path for a rally in the new year, too.
"Do big monthly gains matter? We'd say yes, as the S&amp;P 500 is up an average of 13.5% a year later and higher nearly 84% of the time after a calendar month gain of more than 5%."
He notes that a 5% gain in November has historically been followed by an average 13% increase the following year, occurring three out of four times. This pattern underpins Detrick's optimistic outlook.
Wells Fargo strategists also expect a bull run in 2025, giving a target of 7,007 for the S&amp;P 500.
"On balance, we expect the Trump Administration to usher in a macro environment that is increasingly favorable for stocks at a time when the Fed will be slowly reducing rates," said Christopher Harvey and his team of strategists.
&#8220;In short, a backdrop where equities continue to rally.&#8221;
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
Wednesday's economic calendar is packed.
<ul>
<li>November's data on ADP employment will be released at 8:15 a.m. ET.</li>
<li>St. Louis Fed President Musalem will speak at 8:45 a.m. ET.</li>
<li>The S&amp;P final U.S. services PMI for November will be released at 9:45 a.m. ET.</li>
<li>The ISM services and factory orders data for November and October, respectively, will be released at 10:00 a.m. ET.</li>
<li>Fed Beige Book will be released at 2:00 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) <a href="https://www.benzinga.com/24/12/42309867/why-marvell-technology-shares-are-trading-higher-by-around-13-here-are-20-stocks-moving-premarket">stock surged 14% in premarket trading</a> on Wednesday after the company beat analyst estimates on the back of "strong demand from AI."</li>
<li>Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) stock rose 13% in premarket after the company <a href="https://www.benzinga.com/news/earnings/24/12/42302924/salesforce-q3-earnings-revenue-beat-eps-miss-free-cash-flow-up-30-ai-driving-groundbreaking-transformation-and-more">posted revenue</a> that topped forecasts. It also raised its fiscal year revenue guidance.</li>
<li>Okta Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) stock gained 15% in premarket after the security firm handily beat Street expectations with its <a href="https://www.benzinga.com/news/earnings/24/12/42303322/okta-q3-earnings-revenue-beat-eps-beat-strong-guidance-shares-surge">third-quarter results</a>.</li>
<li>Pure Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) <a href="https://www.benzinga.com/news/earnings/24/12/42303442/pure-storage-shares-soar-after-strong-q3-q4-guidance-above-estimates-details">stock rocketed 25%</a> in premarket after the company raised its annual revenue guidance.</li>
<li>Investors are awaiting earnings results from Dollar Tree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>), Hormel Foods Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>), and PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures surged in the early New York session, gaining 0.69% to hover around $70.42 per barrel.
The 10-year Treasury note yield edged up to 4.254%.
Major Asian markets ended mixed on Wednesday, and European markets were similarly mixed in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42310095/apple-shares-hit-new-high-despite-iphone-sales-slowdown-expert-reiterates-that-street-is-starting-to-realize-ipho">AAPL Stock Hits New High Despite Sales Slowdown: Tech Bull Says ‘Street Is Realizing' iPhone 16 Marks The &#8216;Start Of A Super Cycle&#8217; For Apple</a></li>
</ul>
Photo courtesy: Wikimedia

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US Stocks Likely To Open Higher As Investors Gear Up For A Historically Strong Month: Wells Fargo Strategists See Trump Policies Setting A Backdrop Where 'Equities Continue To Rally'

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