U.S markets are headed for a weak start to the day this morning. In early morning trading, the S&P 500, the Dow and the NASDAQ are all in the red. The weakness is in tandem with similar trends in the European markets where key markets are all in the red.
The FTSE, the DAX, and the CAC 40 are all in the red this morning. This weakness follows data pointing to an increase in the number of COVID-19 infections and deaths. So far, the number of deaths from COVID-19 has crossed one million, and there is no clear cut solution to the problem at the moment. The fear of increased COVID-19 cases had dampened the mood in the market, even as investors wait for a possible stimulus package from the U.S government.
The rising number of deaths has also affected the oil markets as crude oil prices drop due to the sustained decline in demand. According to an AxiCorp market strategist, investors are now watching for signs of demand increase in the U.S markets.
Essentially, most markets are largely expected to trade in negative territory today. Despite the overall market weakness, there are stocks that are performing quite well this morning and are expected to do well in the day. Some of the top stock top performers this morning that could sustain momentum all through the day are as below:
Westwater Resources Inc [NASDAQ: WWR]
This is a top performer this morning and is up by over 50% pre-market. The interesting aspect to it is that there is no major news driving the momentum. However, the stock, like others in its sector, has been gaining upside momentum lately.
This is driven by increased demand for EV batteries as society increasingly adopts electric vehicles as a solution to fighting climate change. Part of this company’s portfolio is the exploration of lithium deposits, which are critical to the battery making process.
Greenpro Capital Corp [NASDAQ: GRNQ]
Greenpro Capital Corp is another top performer this afternoon and is up by over 50%. While there is no news around it, this stock is still riding on its earlier updates on its cryptoSX exchange and its Decentralized Finance businesses. These are key growth areas as blockchain continues to revolutionize the finance world, and investors expect these two businesses to drive Greenpro business long term.
LM Funding America Inc [NASDAQ: LMFA]
LM Funding America Inc is also quite strong this morning and is up by over 21%. Like most top performers this morning, this is largely a price action driven move, triggered by an increase in buying volumes.