^{_{Welcome to the TraderTV Live Morning Research Note. Here's what's making major moves in the market today.}}

0830 - PPI y/y for March: Expected 3.3%; Prior 3.2%
0830 - PPI m/m for March: Expected 0.2%; Prior 0%
0830 - Core PPI y/y for March: Expected 3.6%; Prior 3.4%
0830 - Core PPI m/m for March: Expected 0.3%; Prior -0.1%
0900 - Fed’s Collins speaks
1000 - UMich consumer sentiment (prelim) for April: Expected 53.5; Prior 57
1000 - UMich 1-yr inflation (prelim) for April: Expected 4.3%; Prior 4.1%

JPMorgan, Morgan Stanley, and Wells Fargo

+2.21%

All three financial institutions reported earnings before the bell on Friday. JPMorgan posted GAAP earnings of $5.07 per share and sales of $46.014 billion, handily beating estimates of $4.62 and $44.111 billion, respectively. Morgan Stanley also beat estimates, with GAAP earnings of $2.60 per share and sales of $17.7 billion exceeding expectations of $2.21 and $16.57 billion, respectively. Wells Fargo reported GAAP earnings of $1.39 per share, above estimates of $1.22, but sales of $20.149 billion missed estimates of $20.748 billion.

JPM, MS, WFC

Chinese ADRs

+2.04%

China announced it is raising tariffs on U.S. goods to 125% from 84% in response to President Donald Trump's reciprocal tariff hikes, criticizing the moves as economically meaningless and threatening to ignore future increases. Fox contributor Charles Gasparino reported that the Trump administration is considering delisting Chinese stocks from American stock markets. Additionally, JD.com announced a 200-billion-yuan fund to support Chinese exporters by helping them sell their products domestically.

BABA, BILI, BIDU, PDD, JD, LI, XPEV, NIO, ZK, KWEB, FXI

Tesla Inc (TSLA)

-0.16%

Reuters reported that the company has unexpectedly halted new orders for its U.S.-made Model S and Model X vehicles in China amid escalating trade tensions between the countries. The move affects only the imported models; Tesla continues to produce and sell its Shanghai-made Model 3 and Model Y, which dominate its sales in China. Additionally, a report published by Cox Automotive indicates that Tesla vehicles comprised 43.5% of US electric vehicle sales in Q1 2025 despite an 8.6% year-over-year drop.

Meta Platforms and Alphabet

+0.72%

On watch as a pair after European Commission President Ursula von der Leyen indicated that the EU is preparing retaliatory measures, including potential levies on digital advertising revenues from U.S. tech giants like Meta and Google, in response to President Trump's new tariffs on European goods. While the EU seeks a balanced agreement during a 90-day tariff pause, von der Leyen warned that significant countermeasures could come into play if negotiations fall through.

META, GOOGL

Texas Instruments Inc (TXN)

-5.17%

The state-backed China Semiconductor Industry Association (CSIA) clarified which chipmakers will and will not be exempt from China’s tariffs on US goods, as reported by Reuters. The association clarified that U.S. chipmakers outsourcing manufacturing to countries like Taiwan—such as Qualcomm and AMD—will be exempt from China’s retaliatory tariffs because the chips will not be considered American in origin. However, firms with U.S.-based fabs like Intel and Texas Instruments may face tariffs of 84% or higher.

Crypto Stocks

+4.11%

Trading sharply higher as a group in tandem with early strength in Bitcoin, which has already traded above Thursday’s highs. The cryptocurrency opened Friday’s session around the $79,500 level and is trading just below $82,500 as of 7:30 AM ET. Bitcoin, however, has yet to break above the high near $83,500 made during Wednesday’s rally.

MSTR, RIOT, IBIT, ETHE, CLSK, COIN, MARA, IREN, CAN, HIVE, HUT

GameStop Corp (GME)

+1.92%

Trading higher premarket after one of the company’s directors disclosed a share purchase. According to SEC filings, Alan Attal purchased 10,000 shares of GameStop valued at $257,000. This follows a purchase of 500,000 GameStop shares by CEO Ryan Cohen, which was disclosed last Thursday after the bell.

Taiwan Semiconductor Manufacturing Co Ltd (TSM)

+3.29%

Bouncing back premarket after closing 4.8% lower on Thursday. The company announced its revenue for Q1 and March 2025 on Thursday morning. Taiwan Semi reported 46.5% year-over-year revenue growth for March, while Q1 revenue grew by 41.6% on a year-over-year basis. The company is scheduled to report earnings before the bell on Thursday, April 17.

iO Three Limited (IOTR)

+7.00%

On watch after debuting on the Nasdaq via an IPO during Thursday’s trading session. The stock opened at $3.60, below its IPO price of $4 and entirely outside of the pricing range of $4-$6. The company raised $8 million through the offering of 2.1 million shares, below the expected offering of 2.6 million shares.

American Rebel Holdings Inc (AREB)

+10.34%

Trading higher premarket after rallying on Thursday, beginning the session just above $6 and eclipsing $12 at its highest point in the session. On Thursday morning, American Rebel announced that CEO Andy Ross was part of a TV interview in Florida and had a slew of meetings in Mar-a-Lago. The stock has a float of under one million shares and a short float of approximately 13.28%.

MSP Recovery Inc (MSPR)

+115.62%

Gapping up after announcing plans to eradicate at least $1.2 billion in liabilities via a strategic term sheet. The company also announced new agreements and strategic partnerships to help drive further growth. The stock has a float of 422,000 shares.