US PREMARKET ACTIONS: Tuesday, January 6, 2026

Futures Indices

**Dow Futures: UNCH
**S&P 500 Futures: UNCH
Nasdaq 100 Futures: +0.13%

Market Environment

US futures are flat this Tuesday, fueled by yesterday’s momentum when the Dow Jones closed at a historic record. The mood remains constructive as investors digest a slew of clinical results in the biotech sector and adjustments in the bond market.

The rate market shows a divergence: the 2-year yield (US2Y) slips to 3.46%, while the 10-year (US10Y) rises to 4.17%. This steepening of the curve reflects cautious confidence in long-term economic growth.

Stocks to Watch Today

**Bright Minds Biosciences ($DRUG) | +44.0%** The biotech stock is soaring after the success of its Phase 2 trial for BMB-101. The drug candidate reduced absence seizures by 73% on average in patients with drug-resistant epilepsies.

**Arrowhead Pharmaceuticals ($ARWR) | +12.0%** Spectacular jump following news that its obesity therapy doubled weight loss when combined with Eli Lilly’s Zepbound (9.4% vs. 4.8% alone) over 16 weeks.

**Microchip Technology ($MCHP) | +3.6%** The stock benefits from positive momentum after Cantor Fitzgerald upgraded its rating to "Overweight" with a price target raised to $85.

**Zenas BioPharma ($ZBIO) | -52.0%** Sharp drop despite technically positive Phase 3 results. Investors view the data as insufficient to support the valuation after last year’s massive rally.

Recommendation Changes

Upgrades

Bank Of America ($BAC) → Buy, target $66 (Daiwa).
Axon Enterprise ($AXON) → Buy, target $742 (NorthCoast).
Truist Financial ($TFC) → Outperform, target $58 (Evercore).

Neutral

First Citizens ($FCNCA) → Neutral, target $2300 (Goldman Sachs).

Downgrades

AT&T ($T) → Sell, target $20 (Arete Research).
Comcast ($CMCSA) → Sell, target $23 (Arete Research).

Have a great session, everyone.