Happy Thursday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟩 | US stocks climbed on Thursday as investors bought the dip in tech stocks, anticipating a Federal Reserve rate cut next week. The S&P 500 gained 0.7%, trimming the S&P 500's September losses to 0.9% and leaving it 1.3% shy of a record high. The Dow rose 0.5%, and the Nasdaq added 0.9%.

• 📈 | One Notable Gainer: Petco shares surged 11%, building on a 33% post-earnings rally after executives highlighted a focus on cash flow improvement, and meme-stock trader Roaring Kitty reposted Reddit excitement about the stock. Despite the jump, Petco is down 14% over the past year.

• 📉 | One Notable Decliner: Moderna's stock 13% as the company announced $1.1 billion in expense cuts by 2027, plans to launch 10 new products, and will pause or discontinue work on some pipeline projects.

• 💊 | Tomorrow's Trade: Shrinking Waists, Growing Portfolios. Scroll down for more.

Plus, "Automated Options" are taking over the stock market by storm…

TOGETHER WITH PROSPERITYPUB

"Automated Options" are taking over the stock market by storm

Options expert, Nate Tucci, claims as long as you deploy a certain type of trade before the end of the week anyone could have a shot to target right around $1,250 in a matter of days (based on $2.5k invested). But that's not even the best part... Unlike most methods, you don't need to even know WHEN to exit this trade... Once the trade is activated, we can sit back and let it do its work... AUTOMATICALLY.

Click here to watch him place the next trade + claim a $1,250 surprise

MARKET MOVERS

Kroger, Gilead Sciences, Roku

KR (+7%) Kroger Stock Soars Amid 'Positive Customer Trends' (Investopedia)

GILD (+3%) Gilead Sciences Pops On A New $4 Billion Opportunity In HIV Prevention (Investor’s Business Dialy)

ROKU (+6 %) Roku Stock Pops on an Upgrade. Why Analysts Say It’s Worth the Risk. (Barron’s)

DEO (+4%) Diageo Executives Participate in Share Incentive Plan (TipRanks)

ORCL (+3%) How Oracle is giving Nvidia, other chip stocks a boost (Yahoo Finance)

OVERHEARD ON THE STREET

CNBC: Eli Lilly will invest $1.8 billion to expand manufacturing in Ireland for its Alzheimer's, diabetes, and weight loss drugs.

WSJ: JPMorgan and Bank of America to cap junior bankers' hours and improve tracking after WSJ investigation exposed Wall Street's overwork culture.

Bloomberg: Microsoft is cutting 650 jobs in its Xbox unit, focusing on corporate roles after the $69B Activision deal, with no studio closures or game cancellations.

Reuters: McDonald's has extended its $5 value meal offer through December at most U.S. locations to attract budget-conscious customers amid rising fast food prices.

WSJ: GM and Hyundai are exploring a partnership to jointly develop vehicles and cut costs on materials, focusing on EVs and hydrogen models.

TOMORROW’S TRADE IDEA, TODAY

Shrinking Waists, Growing Portfolios

New Player in the Game

In recent years, weight-loss drugs have been one of the biggest boons for companies and their stocks, second only to AI. And if JPMorgan (JPM) is correct, Viking Therapeutics (VKTX) could be the next GLP-1 drugmaker to see its stock price spike.

The pharmaceutical company is developing an obesity drug to compete with Novo Nordisk’s (NVO) Ozempic and Wegovy, and Eli Lilly’s (LLY) Zepbound. Its injectable version is currently in phase 3 trials, while the oral version is in phase 2.

Shares are already up 228% YTD. JPM thinks they have plenty more room to run. 

A Better Product

Analysts and investors alike are particularly excited about the results of the oral drugs testing, which could be a major catalyst for the stock. 

Analyst Hardik Parikh believes that results will show that patients are able to tolerate Viking’s product better than existing drugs, which carry adverse side effects that sometimes force patients to stop taking them. 

Many patients prefer swallowing pills to injecting themselves once a week. Oral drugs are typically cheaper to manufacture too.

A Growing Market

JPMorgan predicts that GLP-1 drug sales could hit $120 billion by 2030, and $30 billion in oral sales by 2035.

The bank currently holds an Overweight rating on Viking’s stock and has assigned it a price target of $80 per share. That is an upside of 46% from Tuesday’s closing price. 

GLP-1 drugs are still very new, and the market has been dominated by just two companies thus far. But JPMorgan believes there’s a new player in town, and investors may still have a chance to gain exposure before trial data drives the price up even more.

TOGETHER WITH PROSPERITYPUB

"Automated Options" are taking over the stock market by storm

Options expert, Nate Tucci, claims as long as you deploy a certain type of trade before the end of the week anyone could have a shot to target right around $1,250 in a matter of days (based on $2.5k invested). But that's not even the best part... Unlike most methods, you don't need to even know WHEN to exit this trade... Once the trade is activated, we can sit back and let it do its work... AUTOMATICALLY.

Click here to watch him place the next trade + claim a $1,250 surprise

ON OUR RADAR

Axios: Housing remains the primary inflation driver, keeping inflation data relevant despite Fed rate cuts and increasing focus on the labor market.

WSJ: The Treasury Department’s 603-page rulebook aims to implement Biden’s 15% minimum tax on big companies, a complex regulatory challenge.

AP: Stellantis delays reopening its Belvidere plant, putting 2,700 jobs at risk despite its pledge to the UAW, citing unfavorable market conditions.

QZ: Adtech CEO argues Google should be broken up to ensure a fairer ad market, as it faces its second major antitrust trial of the year.

The Verge: GM and EVgo are partnering to build flagship EV charging stations with 400 stalls across seven states, featuring fast chargers, amenities, and security.

YESTERDAY’S POLL RESULTS

Are you bullish or bearish on Lowe’s (LOW) over the next 12 months?

🟩🟩🟩🟩🟩🟩 🐂 Bullish

🟨⬜️⬜️⬜️⬜️⬜️ 🐻 Bearish