Good morning, Wake-Up Watchlisters! TGIF! Snag a cup of the brown stuff and let's review what's going on in the premarket. European banks continue to struggle, with German lending powerhouse Deutsche Bank in the spotlight today (see more on that below) after the multi-billion-dollar rescue of Credit Suisse. While the Federal Reserve is slowing down their planned rate hikes, Powell still bumped the rate 25 points on Wednesday despite the struggles of the sector. This has had a chilling effect as it is clear that the central banks are not going to completely halt monetary policy actions which could expose or highlight more vulnerabilities. Regardless of which side of the bed Jerome Powell wakes up on, we are winning in The War Room. This Monday we locked in two more 30%+ wins, and we're positioned for more. Take the guess work out of the market, click here to join The War Room. Now, let's take a look at the top-moving stocks this morning. Deutsche Bank (NYSE: DB) Deutsche is down 11.33% premarket. The bank's credit default swap insurance, to protect against default, now sits at a four-year high, and investors are rightfully concerned. The stability of all European banks might be in jeopardy as financial regulators and governments work to prevent the stresses of inflation and recessions from destabilizing the sector. While this banking crisis will be tough for many banks there are some who will thrive in this environment, and we just picked up one of the best for our Trade of The Day Plus Portfolio. Join us and get the pick now! Exelixis Inc. (Nasdaq: EXEL) Exelixis Inc. is up 4.12% premarket. This pop comes after company leadership announced a commitment to $550 million dollars in share buybacks this year. Although stock buybacks will not magically change the fundamentals of the biopharmaceutical company, shareholders are certainly not going to turn down the short-term gains. If you are more interested in long-term gains, our friend Alex Green has identified what could be the next revolution in healthcare and its gonna be big! Read more here! |
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