JP Morgan (JPM) – A report going around Wall Street late Monday suggested JP Morgan’s trading desk said the S&P could rally up to 10% following a “soft” Consumer Price Index (CPI) reading. The data did indeed come in softer than expected Tuesday morning: the core CPI reading which excludes the volatile food and energy groups showed price growth of 6% on a year-over-year basis. Economists had been expecting a 6.1% year-over-year growth rate.
NIKE (NKE) – A play on some favorable analyst commentary. Analysts at Morgan Stanley Tuesday morning cited “stronger-than-expected topline results from most global brands” as potentially being optimistic for NIKE.
SoFi Technologies (SOFI) – Shares touched new 52-week lows last week. To start this week, shares broke above a notable level at $4.50. The stock was up more than 5% Tuesday morning following the move over the $4.50 level.
Adobe (ADBE) – A play on one of the world’s most recognizable software companies. Adobe will report quarterly results on Thursday after market close.
Trade Desk (TTD) – Analysts at Citigroup began coverage of Trade Desk with a Buy rating and $60 price target Tuesday morning. The new target represented potential upside of about 13% from where shares traded Tuesday morning.